Posted on | February 28, 2013 | 6 Comments
The U.S. Chamber of Commerce strongly opposes the motion to proceed to S. 388, the “American Family Economic Protection Act.” This legislation would fail to address the federal government’s spending problems and would, instead, replace spending cuts with tax increases.
The Chamber has long stated that the sequester is bad public policy and should be replaced with prioritized spending cuts. But, this legislation would be worse than even the sequester. It would not prioritize less spending; rather, it would impose new taxes on businesses in specific industries. Like the sequester, this approach is not the answer.
S. 388 employs political rhetoric rather than seeking to implement good policy. It would increase taxes on some of the same successful small businesses that, just six weeks ago, were dealt a massive tax hike as a result of the fiscal cliff legislation. It also contains provisions that target American worldwide companies, moving the Code further from the territorial tax system we need to make American businesses more competitive in a global marketplace.
Read the whole thing. The deadbeat Senate wants some more tax money? Can we at least get an explanation of why the Senate can’t perform its budgeting task? My suspicion is that the fat baseline increases in the last approved budget are more dripping with pork fat than anything Reid could hope to pass in the current situation.
Then again, maybe Dingy Harry is just in total despair. Congress has to overcome the last four years of idiocy and do something in roughly the next fortnight to stave off a shutdown:
The only good drilling direction for Congress is vertically. That is, it mainly screws up.