Political Quotes

“the motion to commit is very simple and self-explanatory, but at the same time, it is also very timely. It comes at a time when there are legitimate and growing concerns about the pending change in tax policy in America and how it might affect the most dynamic sector of the American economy, and that is, after all, small business. We know that literally 80 percent of the small businesses, 80 percent of the jobs that are created in the economy in America are created in small business, as has been defined under statute. We are anticipating that as this body moves forward and has passed a budget from the majority that implies the largest tax increase in American history, implies the phaseout of tax policies that have grown the economy since 2001, implies that in order to deal with the pending challenge of the AMT, that there is going to be a massive increase in personal rates, particularly at the high end, that affects subchapter S small businesses. We think that it is very important now to require the SBA administrator, under this motion, to consider small businesses as economically disadvantaged if they demonstrate an adverse impact due to the expiration of this tax relief.”