Congressman Bob Latta (R-Bowling Green) released the following statement on the Senate Democrats' tax measure that passed the Senate on party-line, this Wednesday:
“Despite a fragile economy and an unemployment rate that lingers above 8 percent, President Obama and Senate Democrats continue to move forward with their plans to increase taxes on small businesses. An independent study reports that this tax increase will kill more than 700,000 jobs in the U.S. and shrink the wages of struggling Americans.
Under this tax plan, 3.5 percent of small business owners who generate 53 percent of small business income will be exposed to higher taxes next year. Rather than slam small businesses with a tax hike that will make it harder to get the economy back on track and for Americans to find work, it is time to stop the tax hike, and to move forward with comprehensive tax reform that provides job creators, our small businesses and entrepreneurs, with the certainty they need to grow their businesses,” said Congressman Latta.