Roe Statement on H.R. 4853
Middle Class Tax Relief Act of 2010
WASHINGTON D.C. – U.S. Congressman Phil Roe, M.D. (TN-01) made the following statement on H.R. 4853, the Middle Class Tax Relief Act of 2010:
“At a time when many are struggling and unemployment is at a record high, this is not the time to raise taxes on any American. This will certainly have a negative impact on the state of the economy.
“History teaches us that our economy works best when we reduce regulations, lower taxes and allow families to keep more of what they earn. Yet, Democrats are raising taxes on small businesses, which will certainly hinder their ability to hire new employees.
“In addition, the tax rates for savings and investment will rise and the death tax will return in full-force. This is bad for American families, famers, small businesses and the health of our economy as a whole.
“Furthermore, according to the National Federation of Small Business, ‘the businesses most likely to face a tax increase by raising the top two rates are businesses employing between 20 and 250 employees. According to U.S. Census data, businesses with between 20 and 299 workers employ more than 25 percent of the total workforce.’
“This is not sound economic policy because those who are most likely to be hit by these tax increases employ 1 out of every 4 workers in this nation. This Democrat tax hike is putting a target on the back of every worker in every small business in America.
“Although I am glad Democrats have finally decided that some tax relief is helpful for economic growth, with record unemployment, we can’t afford a tax increase on any American.”