Tags: Cantor | business | tax | cut

Cantor Wants 20 Percent Tax Cut for Business

Thursday, 05 Apr 2012 02:15 PM

By Greg McDonald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
House Majority Leader Eric Cantor is pushing a 20 percent tax cut for businesses with fewer than 500 employees, according to the Richmond Times-Dispatch.

The proposal by the Virginia Republican is expected to come up for a vote sometime around Tax Day, which this year falls on April 16. Cantor said it would give small business owners “more options” in making decisions about hiring and other issues that affect a company’s bottom line.

“We want small-business people to have more money go to their pockets, not the government’s, and then they have more money to make decisions about hiring, about retaining jobs and about creating more jobs,” Cantor told the Times-Dispatch Wednesday after a discussion on finance matters with high school students in Henrico County.

Critics of the proposal, however, say its price tag of about $46 billion in lost revenue is too much.

Michigan Democrat Sander M. Levin called it expensive and inefficient at a recent hearing, according to the newspaper.

“This bill is not a shot in the arm of economic growth, rather it is a shot in the dark,” he said, noting the benefit is not specifically tied to investment or hiring.



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Andrew Cuomo Finally Endorsed By New York Times Editorial Board

Monday, 20 Oct 2014 23:12 PM

Spurned by The New York Times editorial board in his primary race last month, New York Gov. Andrew Cuomo snagged the end . . .

Ross, Hutchinson Get Final Digs in on Tax Cuts

Monday, 20 Oct 2014 23:08 PM

Republican Asa Hutchinson and Democrat Mike Ross took swipes at each other's tax cut plans and political backgrounds Mon . . .

Poll: Roberts, Orman in Dead Heat in Kansas Senate Race

Monday, 20 Oct 2014 22:52 PM

The closely watched U.S. Senate race in Kansas is going down to the wire: incumbent Republican Sen. Pat Roberts and inde . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved