Murkowski Opposes Tax Hikes for Small Business Owners

WASHINGTON, D.C. – U.S. Sen. Lisa Murkowski, R-Alaska, made the following statement today following her votes against two proposals that would increase taxes next year on America’s small business owners:

“Our nation is in the midst of a recession, and this week we learned that the unemployment rate inched up to 9.8 percent, yet the Senate majority’s answer today was to offer legislation that would levy a massive tax increase on small businesses. At a time when the number of Americans out of work continues to climb, it’s inconceivable that we would raise taxes on small businesses, our nation’s biggest creator of jobs. Failure to extend the 2001 and 2003 tax cuts for all income brackets would subject 750,000 small business owners to a colossal tax hike come January 1, making it even harder for the unemployed to find work. Though Republicans had sought a vote on a measure to continue the tax cuts for all brackets, the majority blocked that effort. This is too important of an issue to make it a simple yes or no vote. We need to come together as a Senate and work out a reasonable and commonsense solution. In the midst of one of the worst economic downturns since the Great Depression, Congress must not adjourn without stopping the huge tax increases that will take effect on January 1, including a resumption of the marriage penalty and estate taxes and an elimination of the child tax credit.”