Dave Camp: “In closing, I just want to say that we look at the costs that the individual mandate particularly is going to hit hard…”

“In closing, I just want to say that we look at the costs that the individual mandate particularly is going to hit hard on small businesses and how difficult that's going to make it for them to continue to be able to expand and hire workers. And we know that the small business health care tax credit is virtually a fraud; that 90 percent of small businesses won't be able to qualify for that because, again, that's so narrowly drafted that there's the rhetoric of being able to say, Aren't we doing all these great things? But the reality is there's nothing there. Let me just say that at the end of 2010, when all the individual income tax rates increase, as well as on dividends and capital gains, that's going to hit small business particularly hard because most small businesses file as individuals. And that's going to make it much more difficult for them to expand. It's going to make it much more difficult for them to hire and much more difficult for job creation to occur. Also, I would say that another difficult problem is that this bill, while it generates $7 billion in tax revenue, it only provides about $3.5 billion in tax relief.”