End Tax Cuts For Top 2 Percent; Reinvest in Main Street America, Say Business Leaders

Hundreds of small business owners sign letter sent to Congress today

WASHINGTON, Nov. 15, 2012 /PRNewswire-USNewswire/ -- Today, business leaders across the country called on Congress to end costly Bush tax cuts for the top 2 percent and reinvest in America. More than 600 small business owners and other business leaders signed the letter sent by the American Sustainable Business Council and Business for Shared Prosperity to Congress.

"Small business owners believe the pathway to economic growth and job creation is more investment in Main Street America – not continued tax cuts for the top 2 percent paid for by everyone else. The last thing we need is more layoffs of teachers, first responders and infrastructure workers, or cuts to Medicare, Medicaid or Social Security called for by many Wall Street and Big Business CEOs," said Scott Klinger, Tax Policy Director of Business for Shared Prosperity.

In the Letter to Congress, the business leaders said, "In the last decade, we've been cutting taxes on the wealthiest Americans and underfunding vital programs to pay for them. The high-end tax cuts are hurting our economy. It's time to end them, not extend them. This would be an important step in rebuilding an economy that grows our small businesses and middle class."

"The record is clear that lower tax rates for the highest incomes don't generate better job creation," said David Levine, CEO of the American Sustainable Business Council. "Congress should seize this unique moment to end these tax cuts and drive investment in our infrastructure, education and other critical areas that strengthen our economy for long-term job creation."

Read business letter.

List of signers.

The American Sustainable Business Council (ASBC) and its member organizations represent more than 150,000 businesses nationwide, and more than 300,000 entrepreneurs, executives, managers and investors. ASBC informs and engages policy makers and the public about the need and opportunities for building a vibrant and sustainable economy. www.asbcouncil.org

Business for Shared Prosperity (BSP) is a national network of forward thinking business owners, executives and investors, and is an ASBC member. BSP produced the report, The Business Case for Restoring Tax Rates for High-Income Taxpayers to Pre-Bush Levels. www.businessforsharedprosperity.org

SOURCE American Sustainable Business Council (ASBC)