Aug 1, 2012 Issues: Economy and Jobs, Tax Reform

Washington, DC (August 1, 2012) Congressman Pearce issued the following statement on the House of Representatives’ passage of the Job Protection and Recession Prevention Act (H.R. 8):

"Today, I voted to protect families, retirees and small businesses from President Obama’s proposed tax hike. We cannot fix the failed Obama economy by punishing job creators.  The Obama proposal would raise taxes on small business which are the engine of our economy.   I believe every American deserves the opportunity for success and by avoiding the proposed Obama tax hikes, we preserve that opportunity for everyone."

Today, the House of Representatives passed H.R. 8 in a bipartisan 256-171 vote.  This legislation extends all existing individual tax rates, keeps the top rate of 15% on capital gains, continues marriage penalty relief and extends $1000 child tax credit.