In a weekly column released in his Congressional District, Speaker John Boehner says the president’s “fiscal cliff” tax hikes pose a real threat to middle class families and small businesses – and the Democrats who are willing to drive us over the cliff in their quest to enact those tax hikes are practicing “‘Thelma and Louise’ economics.”
The House passed a bipartisan bill to avoid the “fiscal cliff” by stopping all of the president’s tax hikes, and voted to begin fixing the tax code to help grow our economy and bring jobs home from overseas. Republicans are working to “fight the debt through economic growth,” says Boehner – “and we won’t have economic growth if we raise taxes on small businesses.” Here’s an excerpt from his column:
“Driving off the fiscal cliff would have disastrous effects for our country. The nonpartisan Congressional Budget Office (CBO) says it would send the struggling U.S. economy into recession. And credit agencies such as Moody’s indicate another downgrade of the nation’s credit status is likely if an agreement isn’t reached to steer clear.
“The stance being taken by these Democratic senators is rooted in the flawed belief that our country can spend, tax, and borrow its way out of debt.
“The problem, as the Ernst & Young report illustrates, is that raising taxes on small businesses will destroy jobs and inhibit growth. The only way we can fix the deficit and address the debt is to get the economy moving again, and keep it moving. That requires reform of both the tax code and the way the federal government spends taxpayers’ money. Instead of raising tax rates on small businesses, we need an overhaul of the tax code that supports growth by closing loopholes and lowering taxes instead of raising them.”