Kay Bailey Hutchison: “I applaud the Senator from Massachusetts for introducing the bill. He is trying to make a constitutional way so those…”

“I applaud the Senator from Massachusetts for introducing the bill. He is trying to make a constitutional way so those who have done the service for our country and earned the medals are assured that those medals mean something and cannot be in any way misrepresented without a consequence. I thank the Senator from Massachusetts. Tax Policy I rise to talk about this week's issue, which is taxes on our Nation's small businesses. Small businesses are the economic engine of America. It is not big business. Jobs are created by small businesses that grow and become medium-size businesses. They are responsible for driving most of the job growth in this country. Fifty-five percent of private sector jobs are created by small business. Punishing them with new taxes in a time of economic stagnation is incomprehensible. It is incomprehensible. This tax that is suggested by the President on those who make $200,000 to $250,000 or more will affect small business, make no mistake about it. I have been a small businessperson, and I know if someone is paying all the expenses they are paying, if they are taxed as an individual in their small business, they are not going to be able to hire new people--not with what is looming next year in increased taxes. Even the talk of it is part of the reason we have the stagnation we do. Seventy-five percent of the small businesses in our country pay taxes at an individual rate.…”