Issue Position: Stimulating the Economy -- Creating Jobs

Issue Position

America is facing some of the most significant economic challenges since the great depression. I am committed to advancing policies that will allow the private sector to flourish and, consequently, for our national economy to recover. This includes lower taxes on individuals and small businesses, reasonable regulation of businesses, and a pro-American trade policy that promotes American products and workers.

Small businesses are the backbone of the American economy and the best way to end the recession we are currently experiencing and create private sector jobs is by creating an environment where small businesses can thrive. The success of these organizations is tied directly to individual tax rates. According to the National Federation of Independent Businesses, 75 percent of small businesses are organized as pass-through entities, meaning their taxes on business income are based on individual tax rates. In the state of Oklahoma, small business accounts for 97.4 percent of the state's employers.

When uncertainty exists in any market, business is reticent to build capacity or additional jobs. Over the past year, the Democrat-controlled Congress has completely rewritten the rules for the financial services and healthcare industries, with years of rulemaking left to go. This, in addition to the looming expiration of the Bush tax cuts, certainly creates an economic environment of uncertainty.

To get the economy moving again, Congress should permanently extend all of the tax cuts due to expire at the end of this year. Raising taxes on businesses while the economic recovery is still fragile could have disastrous consequences for job creation. The American people deserve -- and economic conditions require -- a straight up-or-down vote on extending tax cuts.

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