Lummis Votes Against Tax Hike

Press Release

Today, U.S. Representative Cynthia Lummis (R-Wyo.) released the following statement after Congressional Democrats voted to raise taxes on Americans:

"Raising taxes on any American during a time when our economy struggles completely defies logic. With unemployment stuck near ten percent, many Americans are eager to get back to work. Washington needs to do all it can to help create jobs and get our economy back on track.

"Unfortunately, it seems Washington Democrats are intent on discouraging job creation and investment in our economy. After creating a climate of uncertainty this fall when business owners desperately needed clarity, today, Washington Democrats have again demonstrated that they don't have a clue about the priorities of the American people.

"We need to get back to the basics and free American job creators to do what they do best -- put millions of their fellow Americans back to work."

Background:

According to the National Federation of Independent Businesses (NFIB), 75 percent of small businesses owners file as non-corporate businesses (pass through entities) and instead pay individual income tax rates.

The Joint Committee on Taxation states that raising taxes "only" on small businesses with incomes above $200,000 / $250,000 would still subject approximately 50% of small business income to a tax increase.

Source