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Business to Washington: Let Bush Tax Cuts Expire

A broad national coalition of business leaders has called on President Obama and Congress to let the Bush administration’s high-end tax cuts expire.

The CEOs of the U.S. Women’s Chamber of Commerce and The South Carolina Small Business Chamber of Commerce joined with Business for Shared Prosperity and other business groups and small business owners around the country to petition Washington to focus instead on growing jobs and rebuilding the failing infrastructure that is dragging down our economy.

“America is in the throes of the most consequential economic fight of a generation,” said Margot Dorfman, CEO of the U.S. Women’s Chamber of Commerce. “All across our country, families are fighting for their jobs, their businesses, their homes, their children’s education and their retirement .”

Frank Knapp, CEO of the South Carolina Small Business Chamber of Commerce, said that regardless of their political alignment, voters clearly saw job creation as a critical issue.

“Voters were demanding that Congress focus intensively on job creation on Main Street — not lobbyists and campaign donors from big business and Wall Street,” he said. “Politicians should not use small business to justify borrowing hundreds of billions from foreign countries to give big non-job producing tax cuts to the wealthiest 2 percent of Americans.”

“Expecting high-end tax cuts to trickle down as job creation is about as reasonable as pouring gasoline on your hood and expecting it to fuel your engine,” said Lew Prince, managing partner of Vintage Vinyl in St. Louis and a member of Business for Shared Prosperity.

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Reach BusinessNewsDaily senior writer Ned Smith at nsmith@techmedianetwork.com. Follow him on Twitter @nedbsmith.

Ned Smith

Ned was senior writer at Sweeney Vesty, an international consulting firm, and was Vice President of communications for iQuest Analytics. Before that, he has been a web editor and managed the Internet and intranet sites for Citizens Communications. He began his journalism career as a police reporter with the Roanoke (Va.) Times, and was managing editor of American Way magazine and senior editor of Us. He was a Captain in the U.S. Air Force and has a masters in journalism from the University of Arizona.