Rep. Walsh Holds Field Hearing on Small Business Job Creation

From the office of Rep. Joe Walsh (R, Illinois 8th District)…

Woodstock, IL – Today, Congressman Joe Walsh (IL-8), Chairman of the Small Business Committee’s Subcommittee on Economic Growth, Tax, and Capital Access, held a field hearing to examine how the economic uncertainty created by Washington is preventing small business owners and entrepreneurs from expanding their businesses and creating jobs. The subcommittee heard testimony from local businesses about how the federal government could promote a business climate that will actually foster small business job creation.

Walsh stated: “Washington-created uncertainty is the number one obstacle facing small businesses in my district and across the country. The best thing that Washington can do to create jobs is get out of the way of small businesses and let them grow and create jobs. Government doesn’t create jobs, American small businesses do.

“Temporary tax measures, like a one year extension of the payroll tax holiday, will have no effect on job creation. In fact, it will only make the job situation worse. Small business owners don’t just plan one year ahead, they plan ten or twenty years ahead, so one-year tax cuts don’t help their businesses at all. In fact, they know that the payroll tax holiday will take more money out of the social security fund, which will have to be paid back later by tax increases. That doesn’t create jobs.”

“New regulations from the Obama Administration are only making the job situation worse. The new healthcare law, environmental regulations, and financial regulations are increasing costs for American small businesses and preventing them from expanding and hiring new employees. I am proud to have co-sponsored the REINS ACT which passed the House last week. Bills like these and the 26 other House-passed jobs bills that are stuck in the Senate will help get government out of the way and help small business grow, create jobs, and put Americans back to work.”

Congressman Walsh heard testimony from three local small business owners: Eric Treiber, President and CEO, Chicago White Metal Casting, Inc., Bensenville, IL; Perry Moy, Owner of Plum Garden Restaurant in McHenry, IL, who testified on behalf of the National Restaurant Association; and Craig Larson, Founder and President of AHC Advisors Inc. in St. Charles, IL.

Some of the suggestions that the witnesses made about ways that Washington can help small business create jobs were: to stop tinkering with the tax code and make it permanent so that small businesses can plan for the future; make business lunches deductible and permanently renew the 15 year depreciation schedule for business construction and equipment; and place a moratorium on all new regulations. The biggest theme was that Washington should just get out of the way and let small businesses create jobs on their own.

http://walsh.house.gov/

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