GRAIN VALLEY, Mo. - In an attempt to better understand the challenges small to medium size businesses are facing, U.S. Congressman Sam Graves is visiting companies throughout his district, which spans from Kansas City north to the Iowa-Nebraska border.
Thursday, he stopped by Haldex Brake Products in Grain Valley, where he bashed corporate tax policy, saying it burdens businesses, prevents growth and halts hiring.
"Taxes do have a huge impact," said Graves. "Right now - in the world - we have the second highest corporate tax rate of anyone out there. What that does is it translates directly into the cost of doing business and also it gets passed on to consumers."
Graves, who is also the chairman of Congress' Small Business Committee, is critical of the president's regulatory policy. He said committee is preparing to halt the Obama Administration from putting new regulation on businesses in place, at least until the economy turns around.
"You actually have three hurdles - you have the litigation hurdle that's out there," said the Congressman. "You have the regulatory environment and obviously taxes. But what we hear most is that regulatory environment. It's all the regulations being brought about through administrative action or regulatory authority."
His efforts to help small to medium size businesses continue next Wednesday when Graves' Committee on Small Business will conduct a hearing in Washington, D.C. that will examine obstacles to small business job creation and economic growth. The Congressman said the hearing will tell committee members of the most pressing obstacles facing small businesses to narrow their focus, so they can work toward job creation and economic growth.
Click here, for more information on the meeting.