Rep. Kelly Votes for Small Business Tax Cut Act

Apr 19, 2012 Issues: Economy and Jobs, Tax Reform

Rep. Kelly Votes for Small Business Tax Cut Act

Washington, D.C. — U.S. Representative Mike Kelly (PA-03) issued the following statement on his vote today in support of the Small Business Tax Cut Act, which would provide all qualified small businesses with fewer than 500 employees a 20 percent deduction against active business income for tax year 2012:

“If we are going to get Americans back to work, we need to give small businesses the immediate tax relief they need to grow and hire new employees. I’ve listened to small business owners throughout the Third District describe their struggle to not only break even, but to stay alive in this struggling economy.

“Their stories and the stories of countless others have been heard. The Small Business Tax Cut Act will give these small businesses, which are responsible for employing half of all private sector employees, an opportunity to hire, promote, and retain employees, as well as invest in the tools they need to expand their market.

“Right now, many of our small businesses are paying one of the highest corporate tax rates in the world, putting American firms at a tremendous disadvantage in an increasingly global economy. This tax cut will level the playing field and create a truly simulative effect that will help grow our economy and create opportunity for the millions of Americans whose hopes have been dashed by a president who has produced little change in our nation’s unemployment crisis.”