U.S. Congressman MIKE POMPEO, Representing the 4th District of Kansas

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Pompeo Votes to Pass The Small Business Tax Cut Act

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Washington, Apr 19, 2012 | comments

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Pompeo Votes to Pass The Small Business Tax Cut Act
Bill will lower small business tax rates by 20%, spurring job growth

WASHINGTON, DC—Today, the U.S. House of Representatives passed The Small Business Tax Cut Act, by a margin of 235-173.  The measure will lower tax rates by 20% on millions of small businesses—from mom-and-pop stores to small manufacturing and service companies—allowing them to invest, expand and hire more workers.  Congressman Mike Pompeo (KS-04), a member of the Committee on Energy and Commerce, gave the following statement after passage of the measure: 

“Every American’s federal income tax rate will increase as Democrats allow the 2001 and 2003 tax cuts to expire.  In addition, Obamacare tax hikes will go into effect.  On top of that, the Alternative Minimum Tax will no longer be held harmless and many of its tax relief provisions expire.  Taxamaggeddon will be upon us come January 1, 2013.  That’s why it’s imperative that we do all we can to decrease the tax burden on Americans, and we should start with aiding our small business job providers.

“Today, I was pleased to support a plan that will lower tax rates on millions of small businesses in Kansas and across the country, allowing them to create jobs and to hire again.  Small business is a huge economic engine, and its success key to our economic recovery.  In order to spur the confidence to jump start this growth once more, we need to unburden our small business owners in Kansas by lowering tax rates and slashing onerous regulations.  This measure is a great step in the right direction.

“Additionally, The Small Business Tax Cut Act will reduce prices for the products and services sold by these businesses, helping families and increasing demand and sales.  Once fully implemented, this 20% small business tax cut will create on average more than 100,000 jobs per year in America. 

“I am hopeful that the Senate will approach this bill in an honest manner and consider it carefully for the sake of our economic recovery,” said Pompeo.

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