February 16,2007

Grassley Urges Adequate Small Business Tax Relief Package After House Vote


To: Reporters and Editors
Re: House tax relief package
Da: Friday, Feb. 16, 2007

Sen. Chuck Grassley, ranking member of the Committee on Finance, today made the following comment in anticipation of House passage of a $1.3 billion tax-relief package addendum to a bill raising the minimum wage, compared to a Senate bill that offers $8.3 billion in tax relief for small businesses, with the cost offset by provisions to shut down abusive tax avoidance schemes.

“There’s been criticism that the Senate bill is too big, and gives too much tax relief to offset the effect of the minimum wag increase. But it’s peanuts compared to the tax relief in 1997, when we raised the minimum wage under President Clinton. If the Senate bill is peanuts, the House bill is a peanut shell. The House package is puny. I hope to see a final tax relief package that’s much closer to the of the Senate bill. We can reach some compromises, and we can get a minimum wage increase of $2.10. We can get a lot of tax loopholes filled. We can bring in more revenue, and we can help small businesses that sometimes are hurt by an increase in the minimum wage. So everybody win, win, wins.”