On the recordNovember 29, 2012
If we are interested in growth, Congress must avoid raising tax rates in the lameduck session and instead pursue tax reform, which sends a signal to the world that we are open for business. Short of going off the fiscal cliff entirely, passing the Senate tax increase instead of pursuing these progrowth and fiscal reform ideas is the worst idea on the table. Raising the top two marginal rates would reverse longstanding tax policy and hit nearly 1 million business owners in the process, and it would eliminate over 700,000 jobs. So if the President is genuinely interested in economic growth and higher tax revenues that come from it, he should drop his demands for the Senate bill and listen to the growing bipartisan consensus that higher taxes hurt growth and lower taxes help create jobs and prosperity. Exhibit 1 November 27, 2012. Hon. Harry Reid, Majority Leader, U.S. Senate, Capitol Building, Washington, DC. Hon. Mitch McConnell, Minority Leader, U.S. Senate, Capitol Building, Washington, DC. Hon. John Boehner, Speaker of the House, U.S. House of Representatives, Capitol, Washington, DC. Hon. Nancy Pelosi, Minority Leader, U.S. House of Representatives, Capitol, Washington, DC.…





