Gibson Statement on Pro-Growth Tax Reform
Votes to Protect Small Businesses, Families from Higher Taxes
Aug 2, 2012 -
Washington, DC - Congressman Chris Gibson (NY-20) released the following statement regarding his vote in support of H.R. 8, the Job Protection and Recession Prevention Act. H.R. 8 extends for one year current tax rates and other tax provisions, including the child tax credit, the alternative minimum tax (AMT) patch, the estate tax, and marriage penalty relief. H.R. 8 passed the House by a bipartisan vote of 256-171.
Congressman Gibson’s statement is as follows:
“Creating jobs is our number one priority, and enacting comprehensive, pro-growth tax reform is essential to that goal. In March, I voted for the Cooper-LaTourette Bipartisan Budget Proposal, which I believe lays out the principles that will grow our economy and create jobs. Our current code is complex, burdensome, and unfair. We need to commit to closing loopholes while protecting middle class deductions and lowering tax rates for all. We need to give our local businesses and family farms the ability to continue to expand and hire more workers.
“As we work toward that goal, we must protect Upstate New Yorker families from facing higher taxes at the end of this year. Additionally, across my district, a number of small business owners and farmers have shared with me the impact higher taxes would have on their ability to sustain and grow their operations, particularly in these challenging economic times. For these reasons, I voted for H.R. 8, which extends current tax provisions for one year - giving us the time necessary to advance pro-growth reform.
“Today both parties advanced partisan approaches to tax reform. I voted ‘no’ on these measures. The parties need to work together to achieve comprehensive reform, with the bipartisan framework in Cooper-LaTourette as the basis for that negotiation.”
Furthermore, Dean Norton, President of New York Farm Bureau, said regarding the vote on H.R. 8 that "Maintaining the current estate tax exemption for our family farmers is absolutely critical. New York is home to excellent and high value farmland in areas like the Hudson Valley, which means that the estate tax can lead to the dissolution of the family farm upon the death of a parent. New York Farm Bureau strongly supports maintaining the current estate tax exemption to make sure that our farm families are able to continue farming through the generations."
“Congress must extend tax relief for small businesses,” said NFIB Vice President of Federal Public Policy Brad Close, “and we applaud Congressman Gibson for standing with America’s job creators. As the economy continues to limp along, it is imperative that small businesses are not burdened with a tax increase.”