Political Quotes

“I yield myself such time as I may consume. This bill, H.R. 5486, the Small Business Jobs Tax Relief Act of 2010, is, in a few words, a continuation of our work to spur job creation and to really improve the quality of life in all of our communities. Since the beginning of this year, our economy has created 982,000 jobs. That is a reversal of 22 straight months of job losses, a very long stretch indeed. But we all know that far too many people today are out of work and the unemployment rate remains at a very unacceptably high 9.7 percent. So something considerable has been done, but we have to do more. According to the SBA--and I think we all know this--small firms created 64 percent of the net new jobs between 1993 and the third quarter of 2008. So small businesses help lead job creation in a recovery, but today, small firms are having difficulty accessing capital. So what does this bill do? It provides a total of $3.588 billion in tax cuts to help American small businesses. It is part of the partnership between the public and the private sector, relying on the private sector to do the job creation. And I want to emphasize, this bill does not add a dime to our deficit. It doesn't even add a penny to our deficit. So let me explain the provisions in H.R. 5486. First of all, relating to business stock, small business stock, and capital gains, presently there's an exclusion of 75 percent because of the Recovery Act, and I emphasize that.…”