FROM HOUSE WAYS AND MEANS CHAIRMAN CONGRESSMAN DAVE CAMP'S WEBSITE
Last week, the House passed a 2013 budget that upholds the pledge by House Republicans to change the way Washington spends taxpayer dollars by reducing federal spending and working to balance the budget – without job-killing tax increases. Congressman Dave Camp knows change doesn't come easily. However, he remains committed to leading the way with real solutions that will put America back on the path to economic growth. The House-passed budget gets spending under control, incorporates the next steps for pro-growth tax reform to spur economic growth and job creation, and keeps a promise to current and future seniors by taking steps to save safety net programs from bankruptcy.
Congressman Camp is often asked when speaking to America's backbone, small businesses and their owners, "how can we help spur a climate so the private sector can create jobs?" Simply put, both parties agree we need to do everything we can to help small businesses. With this in mind the House Ways and Means committee led by Congressman Camp approved H.R. 9, the Small Business Tax Cut Act of 2012. The legislation will allow businesses with fewer than 500 employees to take a tax deduction equal to 20% of their income and applies to business owners who pay their taxes at the individual or corporate
