"We believe the best course is to encourage job creation by private companies," the Arizona senator says. "And the way to do that is to limit intrusion by Washington and to keep taxes at a manageable level."
Full transcript of the remarks after the jump:
“Hello. I’m Senate Republican Whip Jon Kyl of Arizona.
“The effects of the ongoing economic slump have been severe and have touched all Americans. Too many people have lost jobs; others are working reduced hours or for lower pay. The latest report shows that unemployment has stubbornly stayed at just below 10 percent. Nearly four million workers have lost their jobs since President Obama took office.
“The American people have been telling Washington that promoting job growth must be the first priority. But, for more than a year, Congress and the President have focused instead on a controversial health spending bill which a majority of Americans said they didn’t want.
“Recognizing that their $1.2 trillion stimulus has failed and in a frantic, election-year push, Democrats in Congress are labeling every bill they bring up as a ‘jobs’ bill. Most are just more government spending, leading to higher deficits and more debt—and very few jobs.
“Republicans have a better plan. We believe the best course is to encourage job creation by private companies. And the way to do that is to limit intrusion by Washington and to keep taxes at a manageable level.
“The federal government has been growing at an astonishing rate. Just last year, the government borrowed $1.4 trillion! The American economy cannot grow and create good jobs if Washington spending takes more and more resources out of the private economy.
“Second, we must not raise taxes. Under current law, unless Congress acts, taxes will rise dramatically on December 31st. Taxes will increase on families with children, on married couples, on income, on capital gains and dividends, and even after death. It comes to a total of $2 trillion in new taxes over the next 10 years. And that doesn’t include the more than $500 billion in new taxes in the health spending law.
“Since most small businesses pay taxes as individuals, the increase in marginal income tax rates will hit job creators hard. Businesses are reluctant to hire because they are unsure about their future tax costs. Congress and the President should act to prevent the coming tax increase. That would provide job creators with some much needed certainty so they can begin hiring again.
“Unfortunately, Democrats in Congress have yet to say whether they will prevent this massive tax hike. And, they’ve even proposed new taxes like the cap-and-trade bill. Republicans believe we need to act now, in a bipartisan way, to head off these tax increases. That would show job creators and families that it’s safe to invest and save.
“So, these are two Republican ideas: First, reining in Washington spending. Second, keeping taxes at a manageable level. If we do these two things, private businesses and American families will be able to save, invest, and plan for the future.
“Together, we can help put Americans back to work.”