The Proposed Budget Hurts Small Businesses

Floor Speech

Mr. WILSON of South Carolina. Mr. Speaker, on Monday, the proposed budget for next year was released by the current administration. This budget fails to address the issue of Washington's 4-year spending excess.

The proposed budget freezes will not work. They will not provide a path to fundamental reform. The proposed budget destroys jobs by adding $1.3 trillion to the national debt. Bill Miller of the U.S. Chamber of Commerce reports that the budget leads to $175 billion in new tax increases. It cripples job creation by spending too much, taxing too much, and borrowing too much. Excessive borrowing by the government competes unfairly with small businesses.

I support fundamental cuts that will promote private sector job creation. We cannot expect to borrow the way to prosperity. House Republicans are committed to combining sound policy with practical solutions to create jobs. We need to cut spending, reduce borrowing, keep taxes low, and provide the necessary tools to jump-start job creation.

In conclusion, God bless our troops, and we will never forget September the 11th in the global war on terrorism.

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