Taxes

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  • Simpson Says No to Higher Taxes
    Posted in Press Releases on August 1, 2012 | Preview rr
    Tags: Small Businesses, Taxes

    Idaho Congressman Mike Simpson today voted for H.R. 8, the Job Protection and Recession Prevention Act of 2012. This legislation would extend through December, 2013, the low-tax policies originally enacted in 2001 as part of the Economic Growth and Tax Relief Reconciliation Act. “I cannot support raising taxes on Americans while we struggle to emerge from a recession,” said Simpson. “Tax relief is vital to job creation, and in times of economic uncertainty it is especially important that we impl... Read more

  • Simpson Supports Lower Taxes for Small Businesses
    Posted in Press Releases on April 19, 2012 | Preview rr
    Tags: Small Businesses, Taxes

    The U.S. House of Representatives today passed H.R. 9, the Small Business Tax Cut Act of 2012, which allows businesses with fewer than 500 employees to reduce their profit subject to taxation by 20% in the 2012 tax year. Idaho Congressman Mike Simpson supported the measure, which passed with a final vote of 235-173. Small businesses currently face up to an astounding 35% federal tax. Additionally, the individual tax rates that apply to small pass-through businesses are scheduled to increase sign... Read more

  • Simpson, Labrador Call on Senate to Return to DC
    Posted in Press Releases on December 20, 2011 | Preview rr
    Tags: Small Businesses, Fiscal Responsibility, Taxes

    Idaho Congressmen support effort in House to reject two-month payroll tax extension bill, support conference committee process for full-year extension Read more

  • Simpson Joins Bipartisan Vote to Repeal Withholding Tax
    Posted in Press Releases on October 27, 2011 | Preview rr
    Tags: Taxes

    Idaho Congressman Mike Simpson today lauded passage of legislation to repeal a 3% withholding on government contractors. H.R. 674 passed the House by a strong bipartisan vote of 405-16. Simpson has been a cosponsor of this legislation since 2008. “Democrats and Republicans alike recognize that allowing this provision of law to go into effect would increase costs for state and local governments and adversely impact small businesses,” said Simpson. “Idaho businesses, universities, and communities... Read more

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