WE CALL BULL:  Congressman Blunt Votes Against Jobs & Lower Taxes March 25th 2010

Instead Supports Loopholes for Corporations That Ship Jobs Overseas

Late yesterday, after weeks of campaigning about job creation, Congressman Roy Blunt once again voted against a jobs bill; this time, the Small Business Act.  The legislation includes commonsense measures that would cut taxes for small businesses so they can focus on creating jobs and close loopholes for corporations that ship jobs overseas.  In addition, the legislation extends the vital Build America Bonds program, which has helped spur jobs and economic growth across the state and is strongly supported by Senator Kit Bond (R-MO).

“At a time when Missouri’s economy is hurting, Congressman Blunt has again decided to side with corporate special interests and their lobbyists rather than with the small businesses that will create jobs for Missouri families,” said Linden Zakula, Robin Carnahan’s Press Secretary. “Congressman Blunt’s 13 year Washington record of supporting job-killing policies has hurt Missouri’s economy and shipped tens of thousands of jobs overseas.  Enough is enough, and we call bull.”

Here is a breakdown of the jobs bill that Congressman Blunt voted against yesterday and how it helps Missouri small businesses.

• Help for Small Business: $3.6 billion in tax credits to small businesses – to help them innovate and grow—including a full exemption from capital gains taxes for small business stock sales and the expansion of a deduction for small business start-up costs from $5,000 to $20,000 through 2011.
• Build America Bonds (BABs): allow states to continue to obtain much-needed funding, at lower borrowing costs, for new capital projects like the rebuilding of schools, sewers, hospitals and transit projects. In Missouri, the program is helping fund:
  • A new administrative center for Springfield public schools. [Springfield News Leader, 10/7/09]
  • A start up small business center in Creve Coeur. [Post Dispatch, 3/10/10]
  • More than a dozen facility projects on University of Missouri campuses in Columbia, Kansas City, Rolla and St. Louis. [Release, 7/16/09]
• Closes multinational corporate tax loopholes: requires U.S. subsidiaries of foreign-owned corporations to pay taxes they could previously avoid by sending the money overseas.