[Congressional Record Volume 157, Number 22 (Friday, February 11, 2011)]
[Extensions of Remarks]
[Page E214]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




INTRODUCING THE JUMPSTARTING OUR BUSINESS SECTOR ACT OF 2011 (JOBS ACT)

                                  _____
                                 

                           HON. PAUL C. BROUN

                               of georgia

                    in the house of representatives

                       Friday, February 11, 2011

  Mr. BROUN of Georgia. Mr. Speaker, today, I introduced the 
Jumpstarting Our Business Sector Act of 2011 (JOBS Act). This 
legislation permanently eliminates capital gains and dividends taxes, 
as well as the corporate tax rate. Additionally, it allows for 100 
percent of business expensing for 2012.
  As our Nation's unemployment continues to hover around 10 percent and 
the federal ``stimulus'' bill passed last Congress did little to 
improve our economy, it is time that Congress does what should have 
been done in the first place: help small businesses create jobs.
  Abolishing capital gains and dividend taxes would be a much more 
effective means of stimulating the economy than more government 
spending. The elimination of these taxes would not only provide a 
short-term ``stimulus,'' but they would encourage new long-term 
investment and growth.
  By the end of 2011, the United States will have the highest corporate 
tax rate of the 34 countries in the Organization for Economic 
Cooperation and Development (OECD). Eliminating the corporate tax rate 
will immediately increase the competitiveness of our economy, attract 
more investment, and lead to job creation.
  In addition, extending 100 percent of business expensing for 2012 
will provide an incentive for businesses to invest more money back into 
the business, setting the stage for expansion and the creation of new 
jobs.
  Small businesses are the engine of our economy and create the vast 
majority of new jobs in this country. And yet, nothing that the Federal 
Government has done so far to address our economic crisis has been 
directed towards helping our business community.
  We have seen the effects of unchecked and unwarranted Federal 
Government spending on our economy and employment. Now is the time to 
once again put our trust in the small businesses and entrepreneurs and 
to get the Federal Government off their backs and out of their way. I 
believe the JOBS Act will be a positive step towards that goal.

                          ____________________