6,900 Iowa Small Businesses Hit With Tax Hikes Under Liberal Health Plan

Steve King while Visiting a Farm

WASHINGTON, D.C. — Congressman Steve King (R-IA) today made the following statement about new research from the Heritage Foundation revealing that 6,900 Iowa small business owners will pay a 5.4 percent surtax under the liberal health care plan being debated in Congress. The Heritage study also states that the liberal plan will carry a $1.3 trillion price tag and will increase the tax burden of 2.04 million Americans, about half of them small business owners.

“Liberals have put forth a health care plan that will empower Washington bureaucrats to control our health care system. To pay for their plan, liberals are proposing more job-killing tax hikes – up to an additional 5.4 percent – on the engine of economic growth in America: small businesses.

“In Iowa and across America, many small business owners are doing all they can just to get by. Hard and smart working Iowa small business owners cannot afford these tax hikes. Iowa’s small businesses employ 668,226 people per year, and a number of these jobs will be lost if these tax hikes go through. Raising the taxes of small business owners will cost jobs and could result in some small businesses shutting their doors and closing their operations.

“Instead of destroying jobs and empowering Washington bureaucrats to control our health care system, I want to create new jobs and protect the relationship between patients and doctors. The liberal plan will decrease the quality of our health care, cost American jobs and raise our taxes to pay for more Washington spending.”

The full Heritage Foundation study is available at http://www.heritage.org/research/healthcare/upload/Surtax_table.pdf

Other stories of interest:

1. Rep. Steve King Signs Declaration of Health Care Independence
2. Liberal Stimulus Costs $862,498 per Job Created
3. Iowa Senator Tom Harkin holds Town Hall in Des Moines, Iowa
4. Iowa Congressman Steve King Receives Defender of Economic Freedom Award
5. King Signs Health Care Reform Pledge