Pelosi Statement After House Republicans Block Passage of Tax Relief for Small Businesses

WASHINGTON, July 30 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi issued the following statement this evening after House Republicans blocked passage of the Small Business Tax Relief Act, which would have provided relief for small businesses from reporting requirements and eliminated tax breaks for companies that ship jobs overseas. The House voted 241 to 154 in favor of the bill, short of the 2/3 needed for passage.  Only two Republicans voted for the bill.

"Small businesses are the engine of the American economy; we must do all that we can to help them succeed after the failed economic policies of the Bush Administration resulted in the loss of 8 million American jobs.

"Today, House Democrats voted to help small businesses.  And we paid for this legislation by closing tax loopholes that promote corporations shipping jobs overseas.

"Yet virtually all Republicans voted no, and succeeded in blocking passage of the bill.  Instead of standing with America's workers, Congressional Republicans stood with the special interests that offshore American jobs.

"This legislation would have been a win-win for American jobs but yet again, Republicans sided against small businesses and against our nation's workers.  We must move America forward, not back."

SOURCE Office of the Speaker of the House

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