If the Goal is to Help Small Business, Extend All the Tax Rates
John Engler, president and CEO of the National Association of Manufacturers, and Jerry Howard, president and CEO of the National Association of Home Builders, have an op-ed in today’s Wall Street Journal (subscription), “Tax Hikes and the Small Business Job Machine“:
Speaking at his first cabinet meeting after the midterm election, President Obama repeated his familiar call for extending the current tax rates for middle-class families. He also vowed to support business. “We’ve got to provide businesses some certainty about what their tax landscape is going to look like, and we’ve got to provide families certainty,” he said. “That’s critical to maintain our recovery.”
If Mr. Obama wants to help families, businesses and the recovery, then his course of action is clear: He should support the full extension of the 2001 and 2003 personal income tax rates that are now set to expire at the end of this year.