Political Quotes

“This amendment is designed to highlight the impact that increased taxes have on companies and their workforce. Like many Members of this body, I owned my own business prior to being elected to Congress. I know firsthand what it takes to make a payroll, expand your business, keep the lights on. Running a business takes the owner's blood, sweat, and tears to succeed, but it also requires capital. Heavier taxes can have significant impacts on a company's operation, certainly a company's access to capital and their overall fiscal health. If we are to follow the premise of this bill, that investors need the Federal Government to mandate the disclosure of immaterial information, then the impact of tax hikes must be included. That is why I am offering this amendment. This amendment would require publicly traded companies that pay Federal taxes to disclose the effects of any future U.S. corporate tax increases. Specifically, the company must calculate and disclose the difference between the amount in taxes it would have paid under laws in effect on June 1, 2021, and the actual amount paid after the taxes were increased. Additionally, the company must acknowledge in writing which President signed the higher taxes into law. Finally, the company must specify the decreased amount of capital that it now has to pay its workforce, reinvest in the company, or return capital to shareholders. So I do want to be clear.…”