Grassley Urges Adequate Small Business Tax Relief Package After House Vote
M E M O R A N D U M
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.”
Next Article Previous Article
Recent News
- Wyden Announces Finance Committee Hearing on Pharmacy Benefit Managers and the Prescription Drug Supply Chain
- Wyden Hearing Statement at Finance Committee Hearing on the President’s Trade Agenda
- Wyden Statement on HRSA Announcement Breaking Up Monopoly Contract for Organ Procurement Oversight
- Wyden Hearing Statement at Finance Committee Hearing on the HHS Budget Proposal
- Wyden, Grassley, Cardin, Young Raise Alarm Over Dramatic Increase in Pancreata Procurement