NH GOP - SHAHEEN AD ATTEMPTS TO DISTRACT FROM ABYSMAL SMALL BUSINESS RECORD

Concord - In a desperate attempt to distract from her abysmal record, Senator Jeanne Shaheen released an ad today that tries to hide her support for the job-killing Obama-Shaheen policies that have damaged our economy.

 

"Jeanne Shaheen is desperate to distract from her abysmal economic record and her support for the failed Obama-Shaheen policies that have cost us jobs. As governor, Shaheen tried to destroy small businesses by imposing a disastrous sales tax. As a senator she voted to raise taxes on 2.1 million business owners and cast the deciding vote to impose ObamaCare's reckless tax hikes on job creators," said NHGOP Chairman Jennifer Horn. "New Hampshire job creators know that Senator Shaheen has been a disaster for small business, and they are ready to replace her with a responsible Republican in November."

 

Shaheen has also received poor ratings throughout career from leading business groups including the National Federation of Independent Business (NFIB), the United States Chamber of Commerce and the Small Business & Entrepreneurship Council.

 

 

THE ABYSMAL SHAHEEN SMALL BUSINESS RECORD:

 

The National Federation Of Independent Business

 

Shaheen Received A 45% Rating From The NFIB For The 112th Congress. (NFIB Website, www.nfib.com, Accessed 5/9/14)

 

Shaheen Received A 27% Rating From The NFIB For The 111th Congress. (NFIB Website, www.nfib.com, Accessed 5/9/14)

 

Shaheen Has A 43% Lifetime Rating From The Chamber Of Commerce

 

Shaheen Received A 50% Rating From The Chamber Of Commerce For 2013. (U.S. Chamber Of Commerce Website, www.uschamber.com, Accessed 5/9/14)

 

Shaheen Received A 45% Rating From The Small Business & Entrepreneurship Council

 

Shaheen Received A 45% Rating From The Small Business & Entrepreneurship Council For The 112th Congress. (SBE Website, www.sbecouncil.org, Accessed 5/9/14)

 

Shaheen Received A 15% Rating From The Small Business & Entrepreneurship Council For The 111th Congress. (SBE Website, www.sbecouncil.org, Accessed 5/9/14)

 

Shaheen Voted To Raise Taxes On Small Businesses Earning Over $250,000

 

In July 2012, Shaheen Voted To Increase Taxes On Single Filers Making Over $200,000 And Joint Filers Making Over $250,000. "Passage of the bill that would extend the 2001 and 2003 tax cuts for one year on taxable income of up to $200,000 for single filers or up to $250,000 for joint filers. The bill would set the tax rate for adjusted gross income above $250,000 at 33 percent and for adjusted gross income above $400,000 at 35 percent. It also would expand the child tax credit and extend the college tuition tax credit and the earned income tax credit. It would set tax rates for long-term capital gains and dividends at 20 percent. The bill also would allow a business property deduction of $250,000 and extend the alternative minimum tax provisions for 2012 income." (S. 3412, CQ Vote #184: Passed 51-48: R 0-46; D 50-1; I 1-1, 7/25/12, Shaheen Voted Yea)

 

Ernst & Young Determined The Tax Hike Would Impact 2.1 Million Business Owners

 

A 2012 Ernst & Young Study Determined Would Impact 2.1 Million Business Owners. "Commissioned by a host of pro-business advocacy groups, Ernst & Young conducted this latest study in an effort to predict the long-term economic impact of letting the top rates increase at year's end - and the findings stand in stark contrast to the repeated assurances from Democrats that their proposal would have minimal effect on small business owners. Researchers determined the plan would actually subject 2.1 million business owners to higher rates; specifically, those who pay pass-through taxes, like most partnerships, LLCs and S-Corporations." (J.D. Harrison, "Obama Plan To Lift Top Tax Rates Would Plague Millions Of Small Businesses, Study Warns," TheWashington Post, 7/17/12)

 

The Ernst & Young Predicted The Tax Increase Would Cost The United States An Estimated $200 Billion In Economic Output And 710,000 Jobs. "The result, less capital in the hands of business owners and diminished labor supply, would cost the United States an estimated $200 billion in economic output and 710,000 jobs." (J.D. Harrison, "Obama Plan To Lift Top Tax Rates Would Plague Millions Of Small Businesses, Study Warns," TheWashington Post, 7/17/12)

 

An NFIB Poll Showed 75 Percent Of Small Businesses Pay Taxes At The Individual Rate   

According To An NFIB Small Business Poll, 75 Percent Of Small Businesses . . . Must Pay Tax On Their Business Income At The Individual Rate. "According to an NFIB National Small Business Poll, 75 percent of small businesses are structured as pass-through entities (S corporations, limited liability companies, sole proprietorships or partnerships) that must pay tax on their business income at the individual rate.  Most small businesses do not pay the corporate tax." (NFIB, Accessed 8/28/13)

 

"NFIB Advocates To Keep Tax Rates Low Because Of The Many Operational Challenges Small Business Owners Face. Many small business owners struggle to keep a steady cash flow, which is needed to not only run their business, but also support their families. One in five small businesses has a continuing cash-flow problem, a common challenge among businesses of all sizes." ( NFIB, Accessed 8/28/13)