Vote Comes Despite High Unemployment & Warnings From Pennsylvania Farmers & Small Business Owners That Higher Taxes Would “Devastate” Job Growth

Just as he’s done over 50 times while serving in Washington, Pennsylvania’s liberal Senator Bob Casey stood with President Obama today and voted for a massive tax hike on Pennsylvania small businesses, families, farmers and ranchers.  Casey even voted to reinstate the massive death tax.

“Liberal Bob Casey has never met a tax hike that he didn’t like and once again, standing behind President Obama was more important for Senator Casey than standing up for Pennsylvania farmers and small business owners,” National Republican Senatorial Committee (NRSC) spokesman Lance Trover said today.  “Under Bob Casey and President Obama’s watch we’ve seen 41 straight months of unemployment above 8 percent, an almost $16 trillion debt and over 1,100 days without a budget.  If Pennsylvanians want to reverse course and restore common sense in Washington, they can start by retiring Bob Casey in November.”

Remarkably, Casey’s vote came just hours after President Obama’s own Treasury Secretary testified before a House Committee and admitted that the “economy is not growing fast enough and unemployment is very high.”  

It also comes after a week of Casey misleading voters by being evasive when asked if he would support raising taxes on small business owners.

And just yesterday, the Pennsylvania farm bureau sent a letter to Senators saying, “this not only can cripple a farm operation, but also hurts the rural communities and businesses that agriculture supports.”

BACKGROUND.…

Treasury Secretary Timothy Geithner Admitted Just Today That “The Economy is Not Growing Fast Enough.” GEITHNER: “But I’ll tell you my general view on this. The economy is not growing fast enough. Unemployment is very high. Huge amount of damage left in the housing market.” (House Financial Services Committee, U.S. House Of Representatives, Hearing, 7/25/12)

Casey Claims He ‘Hasn’t Decided’ “Democrat Bob Casey, who is running for a second term in U.S. Senate for Pennsylvania, says he hasn’t decided whether to go along with President Barack Obama and Democratic leaders on a plan to allow tax rates to rise for people making $200,000 or families making $250,000 a year. Casey in an interview Friday with The Associated Press touted himself as working to find compromise and while pushing for legislation he believed would encourage more hiring. Casey says he’d prefer to let tax rates rise on people who make $1 million or more.” (“Casey Doesn’t Embrace Obama’s Plan On Tax Rates As Pa. Democrat Seeks 2nd Term In US Senate,” The Associated Press, 7/20/12)

July 13, 2012, Majority Leader Reid Announced A Tax Plan That Only Extended The Tax Cuts For Those Earning Less Than $200,000. “Senate Democrats will push a one-year tax cut proposal for individual Americans earning $200,000 or less annually, setting the stage for a showdown in coming weeks with Republicans over extending the Bush tax cuts, according to a new plan circulating on Capitol Hill.” (John Bresnahan, “Senate Dems Push One-Year Tax Cut,” Politico, 7/13/12)

• “With Only 53 Democrats – And Reid Calling For A Straight Majority Vote For Any Tax Proposal – Democratic Leaders Cannot Afford To Lose Any Support.” (John Bresnahan, “Senate Dems Push One-Year Tax Cut,” Politico, 7/13/12)

ADDITIONAL BACKGROUND….

Pennsylvania Farmers & Small Business Owners Spoke Out Against Bob Casey’s Tax Hike

PENNSYLVANIA FARMERS: “This not only can cripple a farm operation, but also hurts the rural communities and businesses that agriculture supports. Estate taxes hit family-owned farm operations especially hard because of the illiquid nature of farm and ranch business property.” (Letter, Pennsylvania Farm Bureau, 7/24/12) 

CHAMBER OF COMMERCE: “Increasing taxes now will undermine economic recovery, choke off job creation, and take money out of the hands of the individuals and businesses that create jobs, spur investment, boost consumption, and promote economic growth.” (“Key Vote Alert On S. 3412, The “‘’Middle Class Tax Cut Act,’” The Chamber Of Commerce, 7/24/12) 

• “The Chamber urges you to oppose S. 3412, which would impose a massive tax hike on American businesses.” (“Key Vote Alert On S. 3412, The “‘’Middle Class Tax Cut Act,’” The Chamber Of Commerce, 7/24/12) 

NATIONAL FEDERATION OF INDEPENDENT BUSINESS: “This legislation would raise tax rates on small businesses at a particularly fragile time for the economy, stifling growth and investment when we can least afford it.” (National Federation Of Independent Business, Letter To Senators, 7/24/12)

• “This tax hike disproportionately impacts small businesses… will shrink the economy by 1.3 percent and result in the loss of 710,000 jobs.” (National Federation Of Independent Business, Letter To Senators, 7/24/12)

• “…the maximum estate tax rate will revert to 55 percent while the exemption level will drop to $ 1 million. This will increase the number of estates hit with the tax from 3,600 to 46,700, including 21,700 small businesses.” (National Federation Of Independent Business, Letter To Senators, 7/24/12)

NATIONAL ASSOCIATION OF MANUFACTURERS: “…S. 3412 would result in higher taxes for the vast majority of manufacturers in the United States, threatening their ability to create jobs. …the possibility of these tax increases has forced many manufacturers to put investment and hiring plans on hold.” (National Association Of Manufacturers, Key Manufacturing Vote Letter, 7/14/12)

• “…the bill’s plan to restore estate tax rates and exemptions to pre-2001 levels would hit thousands of family-owned SMMs across our nation.” (National Association Of Manufacturers, Key Manufacturing Vote Letter, 7/14/12)

• “As our economy struggles to regain its footing, now is not the time to increase taxes on job creators and investors.” (National Association Of Manufacturers, Key Manufacturing Vote Letter, 7/14/12)

NATIONAL ASSOCIATION OF WHOLESALER-DISTRIBUTORS: “This legislation would in fact do very great harm to the middle class it purports to help.” (National Association Of Wholesaler-Distributors, Open Letter To Senators, 7/24/12)

• “Despite the unemployment crisis, the Senate is set to vote on legislation which will indisputably make matters worse.” (National Association Of Wholesaler-Distributors, Open Letter To Senators, 7/24/12)