House Majority Leader Eric Cantor (R-Va.) shot back at the White House’s threat to veto his small-business tax-cut bill, accusing the administration of wanting to “micro-manage” the money held by small businesses.
“There’s been some indication from the White House that they want to help small businesses, but it seems that every time they say that there is always some string attached, there is always some desire to micro-manage some small-businessman or -woman’s money,” Cantor told Fox News on Wednesday. “And we believe that it’s best to trust the small-businessmen and -women, because they know how to create jobs; Washington doesn’t.”
On Tuesday, the White House threatened to veto a small-business tax cut bill being pushed by Cantor, calling it a $46 billion “giveaway” to the “most fortunate.”
In a lengthy policy statement, the White House blasted the 20 percent cut for companies with fewer than 500 employees as a salve to high-priced lawyers, consultants and “other wealthy individuals and corporations with the biggest profits.”
“I just think there’s a clash of visions here and something that will continue to play out here as we try to get things done in Washington,” Cantor continued.
“I think it’s indicative of where [Democrats] want to take this country, because this week is tax week, what they’ve done is put up for a vote in the Senate a tax hike,” Cantor said. “If job creation is our goal, and I think most Americans would say we’ve got to get this economy going again, they believe you raise taxes, we believe you let small business have a tax cut to create more jobs.”
On Monday, the Senate rejected the “Buffett Rule,” which was intended to ensure that millionaires pay a minimum tax rate. The proposal is part of the Obama campaign’s message on tax fairness and income equality.
— Peter Schroeder contributed.
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