Democrats Defeat Cornyn Amendment Requiring Congress To Approve Any Tax Increases For Businesses

Press Release

"I think this would encourage transparency and accountability and I think put the responsibility squarely where it sits"

U.S. Sen. John Cornyn, a member of the Senate Finance Committee, today offered an amendment to Sen. Baucus' Chairman Mark to increase accountability and require Congress to vote on the amount of taxes imposed on American businesses each year. By doing so, Congress and the President would both have to sign off on any tax increase for employers, which would ultimately be passed on to the workers. Once again, the Democrats rejected this amendment.

"The Chairman's proposal before us includes required payments for employees receiving premium credits-similar effects to the employer ‘pay or play' mandate, which we all know will have a negative effect on job creation and retention, and would reduce wages for hardworking Americans.

"Because of the nature of how health care is paid for, ultimately the cost burden is placed on the worker - not absorbed by the employer.

"My amendment is straightforward. It would simply have Congress vote on the amount of the tax on American businesses each year. I think this would encourage transparency and accountability and I think put the responsibility squarely where it sits - and that's with members of Congress as to whether we're going to impose a penalty on employers that will be passed down and disproportionately affect low-income workers."

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