Once again, President Barack Obama is coming up with too little, too late, says House Speaker John Boehner. The White House announced Monday that it will propose extending capital gains tax breaks for small business in the 2012 budget proposal it releases next month, The Hill reports.
But the Republican leadership sees the effort as too small. It wants bigger tax benefits and more protection from regulation for small businesses.
The White House made the announcement as it introduced a new partnership with big business to boost investment in new businesses: Startup America.
Boehner’s office says the White House needs to do more for the economy than creating new phrases.
“It seems the only thing new being offered by the White House this morning is another catchphrase, says Brendan Buck, a Boehner spokesman..
"Not until the administration is prepared to break down Washington barriers to job creation — onerous mandates, costly regulations, and economic uncertainty resulting from massive budget deficits — will we see renewed confidence from American small business owners,” Buck added.
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