Congressman Bob Gibbs to Hold Roundtable Discussion to Address Avoiding the Largest Tax Increase in History
WASHINGTON, D.C. – Congressman Bob Gibbs is joining in the House GOP effort to stop the impending tax hike that will take place at the end of the year if Congress does not act to prevent it. The George W. Bush-era tax cuts are set to expire on December 31, 2012, at which point Americans will be subject to massively increased tax rates. This Friday, July 27th, is “Stop the Tax Hike Day,” and Gibbs is linking together with his GOP colleagues to spread the word across the country that these scheduled tax increases on small businesses will kill jobs at a time when our country is burdened with the worst employment crisis since the Great Depression.
Congressman Gibbs will be holding a roundtable discussion on Friday morning at Bookmasters, Inc. with local members of the small- to medium-business community to discuss the disastrous effects this tax increase would have on their industries. Following the roundtable discussion, all attendees are invited to tour Bookmasters, Inc., a family-owned and operated company that offers publishing and distribution services. Bookmasters, Inc. is a medium-sized business in Ashland that has specific concerns about the tax increase adversely affecting their industry. Friday’s events were coordinated by the Ashland Area Chamber of Commerce for their members.
The details for Friday’s Roundtable and Tour are as follows:
WHO: U.S. Rep. Bob Gibbs (R-OH) and members of the local small- to medium-business community
WHAT: Roundtable Discussion on Avoiding January’s Tax Hike and Tour of Bookmasters, Inc.
WHERE: Bookmasters, Inc.
30 Amberwood Parkway
Ashland, OH 44805
WHEN: Friday, July 27, 2012
10:30 a.m. Roundtable Discussion
11:30 a.m. Tour of Bookmasters, Inc.
These events will be open to the media. There will be an opportunity for press availability at the end of the event. If you plan to attend, please RSVP to Caroline Califf in Rep. Gibbs’ office at Caroline.Califf@mail.house.gov.
Statistics Associated with the Pending Tax Hike:
• According to the Congressional Budget Office (CBO), January’s tax hike will increase taxes on small businesses and Americans by $4.6 trillion over ten years and $232 billion in 2013.
• According to the National Federation of Independent Business (NFIB), 75% of small businesses pay their taxes as individuals and could be subject to pending income tax increases.
• Also according to the NFIB, in the month of June, for the first time in 44 months, small businesses cited taxes as the single most important problem they are currently facing.