Congressman Says Healthy Small Business Key To Economic Recovery
AMARILLO TX - Congressman Mac Thornberry (TX-13) today toured one of Amarillos top small businesses and met with employees to discuss what Congress needs to do to help the countrys economy recover.
Thornberry toured Ditch Witch of West Texas at 8418 Canyon Drive visited with owner Lenny Sadler and spoke with the companys employees. Ditch Witch of West Texas was named the Amarillo Chamber of Commerces 2008 Business of the Year. It was also the number one dealer for Ditch Witch in the nation in 2007.
In each of the last ten years small businesses have created 60 to 80 of all of the net new jobs created in the nation. The key to our recovery is the health of small business pure and simple" emphasized Thornberry.
The budget passed by the House last week increases spending and debt to record levels. In addition it will mean a tax increase for many small businesses" Thornberry explained.
On top of all that Congress will try to impose new taxes on energy and new mandates on health care in the coming weeks. Im worried that small business will be drowned in this flood of spending taxes and regulations."
Thornberry recently proposed an alternative approach to helping small business that emphasized no tax increases and incentives to grow and create new jobs. The alternative budget proposal Thornberry supported in the House also contained lower levels of spending and less debt a point emphasized by a chart Thornberry showed which displayed the difference in spending between the two budget approaches.
Government taxation can reward some while it punishes others and the wrong tax policies will prolong the recession and even make it worse" concluded Thornberry. I am extremely concerned that unless serious tax reform is enacted we will soon have a system that is all punishment and no reward for small business."
