On the recordApril 19, 2012
I thank the majority leader for yielding. Mr. Speaker, Tuesday was Tax Day, when Americans everywhere were reminded just how much Uncle Sam takes out of our pockets each and every year. But it was also a reminder that not all of our tax policies are created equal. Some in Washington want to raise taxes simply to feed the Federal Government's spending addiction, even when higher taxes on things like capital gains and investments would only discourage growth and shrink revenue in the long term. I think our Tax Code should be designed to promote simplicity, competition, and economic growth. We can do this by reducing the burden on small American businesses that are responsible for the majority of new jobs created in our country every day. This bill will provide an immediate 20 percent deduction for millions of small businesses, one-third of which, by the way, are owned by women and one-fifth of which are minority-owned. {time} 1140 Let's allow small businesses to reinvest in new jobs, new opportunities, and new products that will grow our economy. Mr. Speaker, I urge my colleagues to listen, as I have done, to the voices of their small business owners and operators back home.
