Hirono Urges “Real” Support for Hawaii’s Small Businesses
By Sonia Isotov
Congresswoman Mazie K. Hirono today voted against HR 9, tax legislation that supporters claim would provide tax relief to small businesses.
Hirono voted against this bill saying that in reality, this bill would add $46 billion to the deficit with half of the benefits going to persons who earn more than $1 million a year.
“The Small Business Tax Cut Act actually does very little to help the kinds of small businesses that make Hawaii so great,” said Congresswoman Hirono, in a written statement.
“Due to the broad definition it sets for a ‘small business’ — those with fewer than 500 full-time employees — and the type of tax benefits it would provide, this legislation will result in billions of dollars in handouts to corporate law partners, financial consultants, sports franchises, and entertainers,” added Hirono.
“In fact, the Joint Committee on Taxation found that this bill’s impact on economic growth and jobs is ‘so small as to be incalculable.”
Hirono also stated that she was disappointed that the House failed to adopt an amendment that would have provided targeted relief for small businesses that invest in growing and creating jobs in the United States.
To create jobs, Congresswoman Hirono has called on the House to allow a clean, up or down vote on the bipartisan, Senate-passed surface transportation bill or the Congresswoman’s bipartisan VISIT USA Act.