Business

Chamber economist: Obama tax increase would be ‘bullet in the head’ of recovery

interns Contributor

U.S. Chamber of Commerce economist Martin Regalia on Monday said the tax increases advocated by President Obama would essentially kill any chance for an economic rebound.

“That’s what you’re suggesting, is a corporate bullet in the head,” Regalia said. “That is going to be a bullet in the head for an awful lot of people that are going to be laid off and an awful lot of people who are hoping to get their jobs back.”

Regalia made the comment at an American Petroleum Institute event on the tax increases proposed by the Obama administration. Much of the discussion focused on tax cuts enacted by President George W. Bush that are slated to expire at the end of the year.

Full story: Chamber economist: Obama tax increase would be ‘bullet in the head’ of recovery – The Hill’s On The Money