By SBE Council at 1 August, 2012, 5:03 pm
Dear Member of the United States House of Representatives:
The Small Business & Entrepreneurship Council (SBE Council) strongly supports H.R. 8, the Job Protection and Recession Prevention Act. The legislation will extend all current tax rates through 2013, which is a critical step in helping small business owners navigate and survive the weak economy.
SBE Council strongly opposes alternatives that seek to raise taxes on nearly one million entrepreneurs and small business owners. As reported last week, second quarter GDP growth came in at a pitiful 1.5 percent. Raising taxes will aggravate currently weak economic conditions, driving the economy and business confidence into the ground. Access to capital is very difficult. Voting to raise taxes on entrepreneurs would worsen these conditions, and only cause more pain for small business owners and the unemployed who are counting on them to create jobs.
Raising taxes during this tenuous economic period makes no sense. Washington should not be draining more resources out of our capital-starved economy. Entrepreneurs and the private sector need this capital for creating jobs, investing in their firms, rewarding employees, and for general business needs like paying down debt or expanding into new markets. Extending all tax rates will foster some stability, which is key for business growth and robust entrepreneurship.
SBE Council will KEY VOTE H.R. 8 as a vote for small business in our forthcoming Ratings of the 112th Congress.
Given the recent and wide support for extending tax rates in 2010, and the fact that economic conditions remain weak, there is no reason why H.R. 8 should not pass with strong bipartisan backing. Thank you, in advance, for your support of small business and entrepreneurship.
Karen Kerrigan, President & CEO