Dave Camp: “This bill contains many positive features but also some negative ones, and thus, I reluctantly plan to oppose it. Like…”

“This bill contains many positive features but also some negative ones, and thus, I reluctantly plan to oppose it. Like my friend on the other side of the aisle, I'm pleased to see that it does include some tax relief, albeit limited, for small businesses, including provisions championed by both Republicans and Democrats. I'm also pleased, unlike earlier versions of this legislation, the most objectionable revenue raiser, a provision that could provoke retaliation by other countries and that even the Obama administration officials warned would violate our international treaty obligations, has been dropped from this bill. But despite those positive features, I will be voting against this bill for several important reasons. First, while the tax relief in here is welcome, it's not enough and won't actually help small businesses create the jobs we need to reduce our stubbornly high unemployment rate. While I would certainly support further lowering taxes on small businesses, the last thing they need is higher taxes, which is exactly what they are facing from this Congress. Just last month, the majority pushed through an $11.2 billion tax hike on certain small businesses that would subject their profits to employment taxes, and at the end of 2010, all individual income tax rates, as well as taxes on dividends and capital gains, are scheduled to rise dramatically.”