ORRIN HATCH ON WAY FORWARD ON PREVENTING TAX INCREASES ON AMERICAN FAMILIES, JOB CREATORS

Utah Senator Says Splitting Off Small Business Tax Relief is a “Non Starter” SALT LAKE CITY – U.S. Senator Orrin Hatch, a member of the Senate Finance Committee, issued the following statement today after President Obama indicated on CBS’ 60 Minutes that he is willing to work with Republicans on taxes:

“The fact that the President has indicated he would work with Republicans to ensure taxes don’t go up on millions of American families and a job creator is a step in the right direction.

“The best thing for our fragile economy would be to permanently stop the widespread tax hikes that are set to go into effect on January 1. That’s what Senator McConnell put forward, is something I strongly support and needs to be considered.

“However, splitting off the small business tax relief – or the top two marginal tax rates – is a non-starter. That’s a tax increase plain and simple that would be used to fund more Washington spending, while discouraging private sector job growth. That’s not what the American people or our fragile economy need.

“A reasonable path forward should be on the table. It would garner support from Democrats and Republicans alike. That path forward is an extension of all the tax relief well past the next election.

“Furthermore, Congress needs to act before January 1 – during the lame duck session of Congress to protect the American people from massive tax increases. The Democrat majority in Congress had four years to prevent these tax increases, but have irresponsibly failed to act. We have a limited amount of time left, so I hope the White House and its Capitol Hill allies step up to the plate to act in a responsible manner.” ###

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US Senator Orrin Hatch November 8th, 2010 Media Contact(s): Mark Eddington and Antonia Ferrier, (202) 224-5251