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GOP Address: House Leader Eric Cantor and the Problem with Taxes

Alex Wong/Getty Images(WASHINGTON) -- In this week's Republican address, House Majority Leader Eric Cantor focuses on rebutting the president’s tax proposals, but joins the president in wishing well for the athletes.

“Watching the Olympics this week, I am reminded that one of the things that sets America apart is that ordinary people have the freedom to accomplish extraordinary things,” Cantor states. "Every day I hear from Americans who are ready to do the extraordinary: Open a new business, create new jobs, build a better future for our children and theirs.  All they ask is that Washington get out of the way.”

“While we continue to work to provide solutions here at home, we wish our athletes in London the very best,” he said.

Cantor, like his colleagues who have delivered the address before him, says it is imperative to put a stop to the plan by President Obama and Democrats to extend tax cuts for households with incomes less than $250,000.  This week, the Democrat-led Senate passed this bill which would allow taxes to increase for wealthier Americans. Meanwhile, House Republicans voted in favor of a bill to stop the impending tax increase set to take effect for all Americans next year.

"The threat of higher taxes and more red tape has our small business owners anxiously sitting on the sidelines rather than starting a new business and hiring another employee," Cantor says in the address.

He adds, "These men and women know what some in Washington apparently do not, that higher taxes and more regulations do not create jobs.  Entrepreneurs do.  Red tape and new taxes just make the job of creating jobs that much harder."

The House leader notes President Obama's stance on tax increases less than two years ago, saying the president "actually agreed with House Republicans that a tax increase on our small businessmen and women would hurt our economy."

"This raises the question: does President Obama now believe our economy is doing so well that we can afford to raise taxes on small businesses?" Cantor asks.

Jobs data released Friday showed a jump in the U.S. unemployment rate from 8.2 percent to 8.3 percent, despite the addition of 163,000 jobs in June.  Cantor says that he is hopeful that Washington can come together on bipartisan legislation that will put the breaks on any tax hikes or red tape that he says would slow down job creation.

"We have made clear our willingness to be here in Washington if the President and Harry Reid will finally decide to join us in a bipartisan solution to stop the massive tax hike," he says.

Copyright 2012 ABC News Radio

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