Sen. Chuck Grassley today made the following comment on tax proposals from the White House that are meant to encourage business investment:

"It's the old saying, the devil is in the details. Business investment incentives sound fine, but will they be paid for in a way that hurts job creation? The White House and congressional Democrats enacted a big state aid package in August that was paid for with a permanent tax increase on companies with overseas operations. Some of the biggest employers in Iowa -- John Deere, Rockwell Collins, and IBM - opposed the August bill.  The National Association of Manufacturers said the tax increases in that bill 'will jeopardize the jobs of American manufacturing employees and stifle our fragile economy.' So if the offsets for this new package are other tax increases, then it's a non-starter.  And it's disturbing that small businesses continue to get short shrift.  According to a November 2009 study from the Government Accountability Office, most of the benefits of the research and development tax credit go to large corporations. According to the non-partisan Joint Committee on Taxation, 50 percent of all small business flow-through income will be subject to a tax increase in January under the White House and congressional majority's plans. Small businesses create 70 percent of new jobs.  Raising taxes on job creators is the worst thing we could do right now."

Support the River Cities' Reader

Get 12 Reader issues mailed monthly for $48/year.

Old School Subscription for Your Support

Get the printed Reader edition mailed to you (or anyone you want) first-class for 12 months for $48.
$24 goes to postage and handling, $24 goes to keeping the doors open!

Click this link to Old School Subscribe now.



Help Keep the Reader Alive and Free Since '93!

 

"We're the River Cities' Reader, and we've kept the Quad Cities' only independently owned newspaper alive and free since 1993.

So please help the Reader keep going with your one-time, monthly, or annual support. With your financial support the Reader can continue providing uncensored, non-scripted, and independent journalism alongside the Quad Cities' area's most comprehensive cultural coverage." - Todd McGreevy, Publisher