Treasury: Tax cuts critical for businesses

LITTLE ROCK, Ark., June 3 (UPI) -- Making tax cuts permanent is crucial for small businesses, U.S. Treasury Secretary John Snow said Thursday.

"The best thing government can do for small business and entrepreneurship is to get out of the way," Snow told a small businesses roundtable.

Specifically, Snow said the burden of taxes, regulations, healthcare costs and abusive lawsuits must be lifted from small businesses as much as possible.

"We've seen it work with the president's tax cuts when the burden was lightened, our economy began to soar," Snow said.

Snow also said the U.S. economy is much stronger now than it was a year ago, and he argued more jobs will be created soon reflecting the economic rebound.