Chairman Graves: Small Businesses Need a Seat at the Table
House Small Business Committee Chairman Sam Graves (R-MO) today called on President Obama to include small business leaders in the effort to avert the “fiscal cliff.” The President met today with corporate leaders, but left out the nation’s chief job creators – small businesses.
“I appreciate that the President is getting important input from businesses, but I’m surprised and concerned that small businesses were overlooked,” Graves said. “I’d respectfully remind the President of all his rhetoric about looking out for small businesses. Now is a good time to put some action behind all those soundbites.
“Small businesses cannot afford a big hit on tax rates, and they need to be represented in these fiscal discussions,” Graves continued. “Small businesses are not confident that a one-size-fits-all approach for major corporations will also work for them, particularly if they file taxes as individuals, which the vast majority of small businesses do. Studies show that the President’s proposal would increase taxes on 53 percent of pass-through business income and more than 900,000 small businesses. Small firms create seven of ten new jobs and are crucial to a strong economic recovery, yet their hiring has already slowed to a crawl under the threat of tax increases. A balanced solution cannot make small businesses bear the brunt of the burden for Washington’s years of overspending.”