Mr. Chairman, I rise to express my support for this bipartisan tax compromise. We need to do this. We need to do this to prevent a massive tax increase on the American people, on American families and on American businesses. The clock is ticking and the American people are waiting. If Congress doesn't approve this proposal, our small businesses will be saddled and crushed by a $858 billion tax hike. One-third of all business activity in the United States will see higher taxes--businesses that create 80 percent of our jobs in this country. Raising taxes on small businesses in the middle of a recession is absolutely the last thing Congress should do. Even those in Congress who want to raise taxes must question the timing of doing so when credit is scarce, wages are being cut, and people are losing their jobs. As I travel around my district, I hear one consistent theme over and over again from small business owners: they need certainty.
Editor's note · Context
The speaker is addressing the need for a bipartisan tax compromise to prevent tax increases on American families and businesses.
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