WASHINGTON – House Republican Conference Chairman Jeb Hensarling (R-Texas) issued the following statement today in response to President Obama’s announcement of his plan to increase current tax rates on American families and small businesses.
“The president’s announcement today that he wants to permanently increase taxes on families and small businesses has an economic effect similar to siphoning gas from a car when it’s already running on empty. I hope that as he campaigns around the country, the president would start talking to the same kind of small business owners that I do. They tell me that they are struggling today, and that higher taxes to fuel more Washington spending will mean that they and their employees will struggle for years to come. One might expect that the grim economic data we’ve seen recently would spur the president to chart a new economic course, but unfortunately he has deemed maintaining his campaign’s narrative much more important.
“One of the last, major bipartisan acts we saw from this president was when he worked with Republicans to prevent a tax increase on all American families and small businesses just after the last election. He said then that it was no time to raise taxes, and for those small businesses who are struggling to make it during the worst employment crisis since the Great Depression, higher taxes will not help turn things around. House Republicans will vote later this month to stop the tax hike that threatens all taxpayers just under six months from now. We ask the president to work with us to ensure that Washington does not erect yet another barrier to job creators in this slumping economy.”