Chamber’s Donohue Blasts Tax Hike on Small Businesses
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Says Health Care Surtax Plan Would Harm Economic Recovery
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WASHINGTON, D.C.—U.S. Chamber of Commerce President and CEO Thomas J. Donohue today responded to a health care surtax plan under consideration on Capitol Hill.
“The intention of this plan is to tax high income households, but the real victims would be America’s small business owners,” said Donohue. “We need policies that help small businesses not harm them.”
Donohue said that small businesses led the U.S. economy out of the last seven recessions and create two out of every three jobs during a recovery.
A recent study by the Tax Foundation shows that a surtax to pay for health care will push the top marginal tax rate over 50% in 33 states. The Wall Street Journal notes that this surtax would hit small business owners particularly hard.
“Placing a big tax burden on the small business community would rob them of the resources they need to create the jobs that will lead us out of the recession,” Donohue continued. “Since when does our great free market country punish success? If there’s one sure way to kill the goose that lays the golden egg, this is it.”
The Chamber is dedicated to improving our nation’s health care system, especially in terms of lowering health care costs, improving the quality of care, and making sure every American has access to affordable coverage. However, we believe that some of the approaches under consideration in the House legislation would not improve the system, but in fact would jeopardize the parts of the system that currently work.
The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region. |
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