Republicans: All Sizzle, No Steak – Small Businesses, Tax Cuts, and the GOP’s “Pledge”

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Last week, we pointed out that the small business, Tart Lumber, where the Republicans announced their “Pledge” would benefit from the small business jobs bill that Democrats passed and Republicans opposed that very same day. Evidently, Craig Fritsche, the President of Tart Lumber agrees, and told MSNBC “I do like that bill. And I’m glad they’re making efforts to help us borrow money.”

During their “Pledge” announcement, Republicans mentioned small businesses 18 times to demonstrate their alleged commitment to this vital engine of our economy. But within hours, Republicans broke their “Pledge” by voting almost unanimously against a bill that will benefit the very small business that hosted their announcement.

According to Deputy White House Communications Director, Jen Psaki:

The potential benefits to Tart Lumber in the Small Business Jobs Bill, signed into law by President Obama just yesterday, include:

  1. Businesses like Tart will be able to immediately write off its first $500,000 in equipment investment next year.
  2. Investors in firms like Tart would receive zero capital gains on their investments.
  3. A new Small Business Lending Fund will make capital more available to firms like Tart
  4. By expanding successful SBA lending programs, firms like Tart will have expanded opportunities to get the loans they need to grow

In the morning Republicans pledged an allegiance to small businesses; in the afternoon they opposed legislation that would benefit those same small businesses. This glaring duplicity highlights the dishonesty of recent Republican proposals.

Take the Bush tax cuts as another example. Despite claims that they are committed to balancing the budget, Republicans are pushing for tax cuts for the wealthiest two percent of Americans—a proposal that would add $700 billion to the deficit.

As President Obama explained at a back-yard discussion on the economy yesterday:

Part of the challenge, I think, particularly if we’re thinking about the next generation, is making sure, as we move forward over the next couple of years, that we have an honest and serious conversation about how we’re going to get control of our budget. That is going to be a big challenge.

And the choice that you make in this election I think should be based on facts and making sure that whatever politicians are saying, that they can back it up with some actual figures and numbers that work.