facebook
twitter
search
search

GOP proposes full tax-cut extension

July 10, 2012 at 5:48 PM

WASHINGTON, July 10 (UPI) -- A Republican U.S. senator Tuesday introduced legislation to extend the full raft of former President Bush's controversial tax cuts.

The move came in the form of an amendment to the Small Business Jobs and Tax Relief Act and was offered by Sen. Orin Hatch, R-Utah.

President Obama Monday proposed extending the tax cuts for everyone except upper-end Americans who earn more than $250,000 per year. But Hatch said that bracket included too many business owners who were being counted on to hire more employees.

"It is hard to conceive of a greater impediment to job creation," said Hatch. "All of these tax increases and the economic uncertainty that they cause are going into the investment and hiring decisions of businessmen and women today."

The Hill said Hatch's move was in line with congressional Republicans' longstanding insistence that the Bush tax reductions be extended for all income brackets.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Wisconsin's Walker in hot seat over open-records restrictions
Greek economy reaches low point on eve of referendum
9 injured when fireworks explode in crowd
Reddit moderators revolt after popular employee dismissed
Putin congratulates U.S. on Independence Day