Cantor says GOP hopes to approve small-business tax cut by April 15

House Republicans outlined some of their near-term legislative goals Wednesday, including passage of a small-business tax cut by Tax Day. 

House Majority Leader Eric Cantor (R-Va.) sent out an email to GOP members of the House outlining the tax cut and plans to devote the next few months to providing funds for federal infrastructure programs, creating incentives for U.S. energy development and fixing what they see as a broken budgeting process.

Cantor said the party would build on efforts to ease federal regulations, reduce the deficit and create an environment for job creation.

"Our plan, which we will continue to build on throughout the year, is focused on helping small businesses grow and giving all hardworking taxpayers a fair shot and an opportunity to succeed," Cantor wrote.

On taxes, Cantor said House Republicans would introduce a small-business tax cut by March that gives companies employing fewer than 500 people a 20 percent cut, which he said would help them retain and create new jobs. "I hope every Democrat will join us in passing the small-business tax cut by April 15," he wrote.

Regarding infrastructure, Cantor said House leaders have started work on the American Energy and Infrastructure Jobs act, which would keep federal highway programs funded "near current levels." He added that Republicans will seek to add provisions to that bill aimed at boosting domestic energy production. He did not mention the Keystone pipeline approval bill, but Republicans are considering language to require the approval of that pipeline.

Cantor also outlined several bills aimed at improving the budget process. This week and next, the House will consider the Pro-Growth Budgeting Act (H.R. 3582), the Baseline Reform Act (H.R. 3578), the Expedited Line-Item Veto and Rescissions Act (H.R. 3521), and the Budget and Accounting Transparency Act (H.R. 3581).

Aside from noting bills up today on the floor aimed at curbing federal waste, he said the House would also what the Senate has been unable to do for nearly three years: pass a budget.

"Hardworking taxpayers do this every day and so will we at the end of March," he wrote. 

Budget Committee Chairman Paul Ryan (R-Wis.) "is preparing to put forward a fiscally responsible blueprint that builds upon last year's budget and honestly addresses the government’s 15 trillion dollar plus debt."

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