Rep. Tom McClintock (R-Calif.), one of 10 Republicans to vote against the House GOP's 20 percent tax cut for small businesses on Thursday, criticized the bill for failing to reduce government spending at the same time.
"And thus it merely shifts current taxes into the future," McClintock said immediately after the 235-173 vote. "Once a dollar has been spent, it's already become a tax, taken either from today or tomorrow to pay off deficits.
"Nor does H.R. 9 do much to promote economic growth because it does little to reward new productivity at the margin," he added. "At best it produces a one-year 'sugar high' until the bills come due."
Read more on The Hill's Floor Action blog.
