Sunday, April 22, 2012
DAVE CAMP, CHAIRMAN OF THE HOUSE WAYS AND MEANS COMMITTEE CALLS FOR LESS SPENDING, GREATER ACCOUNTABILITY
FROM: CONGRESSMAN DAVE CAMP’S NEWSLETTER
April 17, 2012
Highlights from the House: Highlights from the House: Camp Calls for Less Spending, Greater Accountability & Comprehensive Tax Reform
Congressman Dave Camp met with constituents across Michigan’s Fourth District last week to listen first hand to their concerns. Camp answered questions about how economic uncertainty continues to dampen the nation’s economic recovery. Residents agreed with Congressman Camp’s plan to advance comprehensive tax reform to restore economic growth and job opportunities for hardworking Americans. Coupled with tax reform, Washington must be held accountable for the use of taxpayer dollars rein in out-of-control federal spending, which remains a significant threat to America’s economic future. AsCBS recently reported, the national debt has now increased more during President Obama's three years and two months in office than it did during George W. Bush’s presidency.
With spending and debt at record levels, it is no wonder that more than three-quarters of Americans believe the country is still in a recession. Historically, Small businesses have led the country out of recessions. Congressman Camp knows their recovery plays a key role to unlocking job growth and getting Americans back to work.
A recent survey shows that with taxes due tonight, cash-strapped small businesses are putting their scarce resources towards tax compliance, rather than growth and hiring. The good news is: the Senate rejected a tax hike yesterday. The better news is: Camp is leading House Republicans in tax reform efforts to boost small business job creation. On Thursday, the House will vote on Camp’s Small Business Tax Cut Act (H.R. 9) to give small businesses a 20% tax deduction. A Fiscal Associates study shows the Small Business Tax Cut with help create more than 100,000 new jobs a year once fully in place, directly benefitting 22 million small businesses. The president has called small businesses the "anchors of our Main Streets" hopefully he and will join the House to provide lower taxes and higher growth to America’s job creators.