Small businesses represent almost 98percent of Missouri employers

If that were the case, then the current national deficitwould be enough to ensure our economic strength for decades to come," Bluntsaid. "The best way to stimulate the economy is to get the government out ofyour wallet by providing immediate tax relief. The government wildly spendinga trillion dollars won't create new jobs and only hurts our economy in thelong run." The plan Blunt supported would reduce the lowest individual tax rates by 5percent, immediately increasing family incomes as a result. The Republicanalternative allows small businesses to receive tax deductions that free upfunds to retain or hire employees.

Small businesses represent almost 98percent of Missouri employers. Blunt's alternative gives homebuyers a tax credit to encourage responsibleconsumers to enter the now-stagnant housing market. It would also makeunemployment benefits tax free so those between jobs are not further burdenedby irrational tax policies. The alternative proposal is below:House Republican Economic Recovery PlanImmediate Tax Relief for Working Families:Rather than a refundable credit based on payroll taxes, House Republicanspropose reducing the lowest individual tax rates from 15 to 10 and from 10to 5.

As a result every taxpaying family in America will see an immediateincrease in their income with an average benefit of $500 in tax relief fromthe drop in the 10 bracket and $1,200 for the drop in the 15 bracket. Amarried couple filing jointly could save up to $3,200 a year in taxes. House Republicans propose to allow smallbusiness to take a tax deduction equal to 20 of their income. This willimmediately free up funds for small businesses to retain and hire newemployees.