Washington, D.C. – U.S. Representative Chip Cravaack (MN) issued the following statement on Tax Day:
“After a failed $1 trillion ‘stimulus’ plan, three consecutive $1 trillion budget deficits, and three straight years of unemployment at or above 8 percent, the President is now proposing a tax hike on our nation’s job creators known as the ‘Buffett Rule.’
Even the president agrees that the ‘Buffett Rule’ is nothing more than a ‘gimmick’ and will do nothing to close the deficit. In fact, if enacted, it would only reduce our annual deficit of $1.2 trillion by less than half of 1 percent.
On the other hand, the House will move to pass the Small Business Tax Cut Act, which will give 22 million American small businesses – including RC Fabricators in Hibbing, Extreme Equipment Repairs in Harris, and the London Road Rental Center in Duluth – a much needed 20 percent tax break to hire and reinvest.
Americans worked 107 days this year just to earn enough money to pay this year’s combined federal, state, and local tax bill. What’s more, American families and businesses spend seven billion hours per year complying with tax filing requirements.
Minnesotans deserve better. I remain committed to common sense solutions, cutting wasteful government spending and instilling meaningful, pro-growth tax reform.”