WASHINGTON – House Republican Conference Chairman Jeb Hensarling (R-Texas) today issued the following statement regarding President Obama’s corporate tax reform “blueprint.”
“Again I find myself agreeing with 80 percent of what the president says but disagreeing with 80 percent of what he does. This blueprint appears to include many of the reforms that House Republicans have already passed – like closing tax loopholes – but it fails to address the need for comprehensive reform of our fundamentally unfair tax code.
“What’s being sold as corporate tax reform is a recipe for a small business tax hike. Combine that with the $1.9 trillion tax increase the president calls for in his budget and it appears these policies are designed to help the government pay for more spending, not to help small businesses pay more employees.
“House Republicans fought for fundamental pro-growth tax reform in our budget and through the work of the Joint Select Committee, but the Democrats rejected it both times. In the meantime, the constant threat of out-of-control spending, higher taxes, and excessive regulation from Washington has resulted in uncertainty for job creators and the worst unemployment since the Great Depression.
“The president’s major policies have already failed and are making things worse, in large part because he spent three years looking for ways to spend more taxpayer money when he should have addressed our fundamentally unfair tax code. Fairness is not found in taxing people and companies more, but in subsidizing them less. Americans deserve a tax code that is fairer, flatter, and simpler and will enable our businesses to compete with the rest of the world. What the president is offering isn’t it, but we stand ready and willing to work with him on comprehensive tax reform that will get the job done.”