If we've learned anything during the recession, it's that we cannot tax and spend our way to prosperity. The best way to get people working again is to rein in the growth of government and end the uncertainty facing small businesses. By addressing both issues, our plan revives free enterprise and moves America away from a debt-driven economy.
We will help the economy by permanently stopping all tax increases, currently scheduled to take effect January 1, 2011. That means protecting middle-class families, seniors worried about their retirement, and the entrepreneurs and family-owned small businesses on which we depend to create jobs in America. 
In December 2010, the House passed and the President signed into law a bill to prevent all tax hikes for two years. Our work continues to protect Americans from tax hikes that will destroy jobs.
Give Small Businesses a Tax Deduction
We will allow small business owners to take a tax deduction equal to 20 percent of their business income. This will provide entrepreneurs with a much-needed infusion of capital for investment and new hiring.  The Fight Continues...The House Ways and Means Committee is working on legislation to provide this tax deduction for American small businesses
Rein in the Red Tape Factory in Washington, DC
Excessive federal regulation is a de facto tax on employers and consumers that stifles job creation, hampers innovation and postpones investment in the economy. When the game is always changing, small businesses cannot properly plan for the future. To provide stability, we will require congressional approval of any new federal regulation that has an annual cost to our economy of $100 million or more. This is the threshold at which the government deems a regulation “economically significant.” If a regulation is so “significant” and costly that it may harm job creation, Congress should vote on it first. The Fight Continues...Congressman Geoff Davis has introduced H.R. 10, the REINS Act, on January 20, 2011 which restricts unelected federal officials from imposing huge costs on the economy and American people through burdensome regulations. It is currently progressing through the legislative process.
Repeal Job-Killing Small Business Mandates
One of the most controversial mandates of the Democrats' government takeover of health care requires small businesses to report to the Internal Revenue Service any purchases that run more than $600. This 1099 reporting mandate is so overbearing that the IRS ombudsman has determined that the agency is ill-equipped to handle all the resulting paperwork. We will repeal this job-killing small business mandate. This Promise was Fulfilled on March 3, 2011With the passage of H.R. 4, The Small Business Paperwork Mandate Elimination Act of 2011, an expansion currently scheduled to take effect in 2012 of information that businesses must report to the Internal Revenue Service on Form 1099 was repealed. Vote Result • Text of the Bill [PDF]
Related Sections
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The House Republican Plan for America's Job Creators: Read about the plan here»
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The House Republican Plan for America’s Job Creators empowers businesses owners and entrepreneurs by allowing them to focus on what they do best - creating, innovating, and leading.
Our pro-growth agenda will remove government barriers to job creation without raising taxes on working families and small business owners.
Our pro-growth agenda will remove government barriers to job creation without raising taxes on working families and small business owners.
