Rep. Culberson Stands with Small Business Owners: House passes Small Business Tax Cut Act
by John Culberson on April 24, 2012 at 9:44 PM
I voted in support of H.R. 9, the Small Business Tax Cut Act that provides a one-year, 20 percent tax deduction for companies with fewer than 500 workers. According to the U.S. Small Business Administration Office of Advocacy, small businesses represent 99.9% of the 27.5 million businesses in America and employ about half of all private sector employees. H.R. 9 passed by a vote of 235-173, with one member voting present.
The House passed the Small Business Tax Cut Act lessening the tax burden on American business owners and job creators. While this is not a long-term solution, it will offer small business owners the short-term tax relief they need to succeed until Congress can pass broader tax reform.
We cannot continue to punish success, whether we are talking about an everyday American taxpayer or a business owner. The federal government cannot continue to tax and spend our way out of debt. It is time to start trusting and empowering individual Americans instead of the federal government.
Businesses with 500 employees or less account for 99.9% of the country’s employers. They are the cornerstone of our communities, and we must recognize their importance to our nation’s economy. Cutting taxes across the board will promote the kind of growth and prosperity that have defined America for generations.