Vote Comes Despite High Unemployment & Warnings From Job Creators That Higher Taxes Would “Devastate” Job Growth

Just as he’s done at least 55 times during his career in the Senate, Ohio’s liberal Senator Sherrod Brown stood with President Obama today and voted for a massive tax hike on Ohio small businesses, families and farmers.

“Liberal Democrat Sherrod Brown has never met a tax hike that he didn’t like and once again, standing behind President Obama was more important for Senator Brown than standing up for Ohio farmers and job creators,” National Republican Senatorial Committee (NRSC) spokesman Jahan Wilcox said today.  “If Ohioans want to reverse course and restore fiscal responsibility in Washington, they can start by retiring Sherrod Brown in November.”

Remarkably, Brown’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.”

BACKGROUND.…

Ohio Farmers & Small Business Owners Spoke Out Against Sherrod Brown’s Tax Hike

FARM BUREAU: “Estate taxes are especially troublesome for farmers and ranchers. [The Reid Proposal] fails to provide any estate tax relief which would allow a $1 million per person exemption and 55 percent top rate to be reinstated on Jan. 1, 2013. A $1 million exemption is not high enough to protect a typical farm or ranch able to support a family from estate taxes…”  (Letter To U.S. Senators, American Farm Bureau Federation, 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)