Reckless to raise taxes on job creators?
Sen. Thune weighs in on tax fight
- Duration 4:40
- Date Jul 12, 2012
Sen. Thune weighs in on tax fight
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-- stuck in an agreement soon.
President plan to give 90% of Americans certainly attacks won't -- -- the Republican plan to raise taxes.
-- million American families.
Democrats really have those votes right away.
We'll do it with simple majority.
And we can get back to the task at hand cutting taxes for millions of small businesses who want to expand and put Americans back to work.
That is just -- part of the debate played out on the senate floor without majority leader Harry Reid asking Republicans.
To allow a straight up or down vote on extending the bush era tax rates -- middle class incomes.
But not higher wages.
My next guest believes that would be a very bad idea South Dakota senator Johnston chairs the senate Republican conference and sits on the finance committee which is the tax writing committee.
In the senate.
Senator good morning to you welcome back -- Good morning bill up up or down vote simple majority rules -- -- think about.
We would love to have the opportunity to vote on the president's plan to raise taxes on almost a million small businesses in this country.
But we would like to see the text of the bill first they haven't they haven't put anything into legislative language yet bill we haven't seen any thing that that they want to vote on.
And we would like to have a procedure where Republicans can offer amendments right now what senator Reid has done -- -- -- And in legislative terms -- the amendment tree essentially blocking Republicans from offering amendments and furthermore hasn't given us anything to look at.
But we that we happen to -- were happy to have this debate we we welcome the opportunity to debate.
Whether or not we ought to be raising taxes on a million small businesses at a time.
What we're trying to get Americans back to work and get the economy growing and expanding again on that -- you called it president's push on this whole matter reckless.
-- come right well.
Well it is because you know the president said two years ago when we have when we had over 3% economic growth -- raising taxes on small businesses would be a blow to the economy.
Now we got even slower growth this year -- seen about 2% economic growth we've had.
41 now consecutive months of unemployment above 8% 23 million Americans who were either unemployed or underemployed.
And the weakest economic recovery literally since the end of World War II.
And the president's now talking about raising taxes on small businesses -- two years ago when growth was even at a slower level he thought that would be a blow to the economy.
It -- the only thing this changes this is now politically here he thinks this is good politics.
Frankly we think this is.
The wrong thing to do not only for the economy but it's the wrong thing to do politically as well as I want well we're happy to debated on on that point is this something that will be settled -- before November.
That's -- well I does congress have the wherewithal to do this or is this something that is just a campaign issue for the next 115 days he -- what after the election.
Well it should be settled before November because we need to provide people who create jobs in this country are small businesses certainty where -- we would welcome the opportunity to extend the tax rates.
For a year in the house is gonna have a vote sometime in a couple weeks on that very issue we hope to get a vote on that.
Here in the United States senate.
But that the problem you have right now is this is all.
A political exercise in the senate in fact.
It's such a charade the senate doesn't even under the constitution originate revenue measures the house does so we were to do something in the senate it would be blue -- in the house.
Anyway what the what senator Reid is trying to do its -- a political issue to try and rally his base.
During an election year it's the wrong thing for the economy.
And we're gonna do everything we -- to stop it we would however like to see tax rates extended.
For all Americans for the next year and particularly for those small businesses where we're.
Looking to to great job to get the economy -- he has it stands right now how many senate Democrats do you believe would vote with you.
On that well.
I would like to see means senator Lieberman's already come out expressed his reservations about raising taxes on small businesses we would think to that.
Senator tester of Montana senator Mike castle -- in Missouri.
Places where you've got top political campaigns and where people understand.
That it's the small businesses that create the jobs we shouldn't be raising taxes.
During a time we're trying to get the economy growing again and so what that the Eagles might be some Democrats would be available to us I hope we can get a handful of Democrats that would be for extending all the rates for another year would that be three or four or possibly more.
It would -- -- yeah and I've been around here long enough to know that when they start putting pressure on it's probably unlikely that it it's more than three or four -- you would think that would be.
Doesn't that would be available for an issue like this that's so important to our economy into economic growth and -- watching for the debate today and we'll see whether or not it moves Johnson thank you for your time senator.
Thanks bill good it would be good to have you back here ninety minute.