White House Threatens To Veto $46B Small Biz Tax Bill

Law360, Los Angeles (April 17, 2012, 8:44 PM EDT) -- The White House threatened Tuesday to veto a Republican-sponsored tax bill set for a U.S. House of Representatives vote this week, calling a proposed $46 billion small-business tax cut a giveaway to millionaire lawyers and consultants that could actually reduce investment and hiring.

“Congress should act to help American small businesses hire and grow with targeted tax relief designed to boost jobs, rather than tax cuts for the most fortunate that actually discourage investment,” the White House said in a policy statement Tuesday, blasting H.R. 9,...
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