Congresswoman Bonamici Votes against Tax Giveaway to America’s Millionaires and Billionaires
Congresswoman Suzanne Bonamici (D-OR) voted no today on the latest GOP-sponsored tax giveaway to the nation’s wealthiest corporations and individuals.
The bill (H.R. 9) would give all businesses with fewer than 500 employees an immediate 20% deduction off their domestic business income taxes. Mislabeled as a bill to support small business growth, the legislation does not create new jobs, adds $46 billion to the deficit this year alone, and hands another tax cut to the nation’s highest earners – delivering an average tax cut of $58,000 to 125,000 millionaires.
“This is yet another example of tax cuts for the wealthy instead of legislation to strengthen America’s middle class and the economy,” Congresswoman Bonamici said following the vote. “In order to actually help small businesses, we must support policies that encourage investment, improve access to capital, and create jobs.”
Congresswoman Bonamici knows that small businesses play a key role in the nation’s economic recovery, driving innovation and job creation. She is a cosponsor of the Small Business Lending Enhancement Act, and she will continue to fight for access to capital for small businesses and other legislation that creates jobs.