Pence: Demand needed to move economy, not another bill

House Republican Conference Chairman Mike Pence (Ind.) on Tuesday said demand will stimulate economic growth, and not the small-business bill the House is set to debate later today. 

"My constituents, small business owners, tell me whether it's the tax credit for hiring or whether it's the current proposal to borrow more money to make more loans available — they say the issue for them is demand for their goods and services," Pence told reporters.

The House is slated to begin debate later today on legislation that would provide loan and targeted tax cuts to small businesses. A final vote on the bill could happen Wednesday. 

Pence claims the bill is "boutique legislation" and that it is "no substitute for across-the-board tax cuts" that would better stimulate the economy. 

"We will not get this economy moving again until we abandon this approach of borrowing and spending, bailouts and takeovers, and we embrace the approach to provide immediate across-the-board tax relief for working families, small-business owners and family farmers," he said.