Smith Votes Against More Stimulus Tax Increases

Statement

Congressman Adrian Smith (R-NE) today opposed H.R. 1586, a bill which authorizes billions in additional stimulus spending paid for with a job-killing tax hike on job creators.

The $26.1 billion bill contains $9.6 billion in tax increases on businesses - which will jeopardize jobs, reduce American competitiveness, discourage investment, and thwart economic recovery. The bill also has been criticized for its cuts to a renewable-energy loan initiative as well as for provisions tying states' hands on how to spend existing funds.

"Congress cannot continue to deny its responsibility for fiscal discipline and pass stimulus bill after stimulus bill. Another multi-billion-dollar federal bailout only sets a dangerous precedent of expanding the role of the federal government in local schools and diminishes the role of parents, teachers, and local communities.

"The more we increase taxes on America's job creators, the longer our nation's unemployment is going to hover near 10 percent. At a time when we should be doing all we can to encourage our economy, this legislation sends exactly the opposite message," Smith said.

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