Spin Cycle

News, views and commentary on Long Island, state and national politics.

David Malpass, the former Reagan adminstration official now running for the U.S. Senate, made two visits on Long Island Friday to warn about the economic impact on small business owners if the Bush tax cuts for big income earners are allowed to expire later this year.

"Across New York, small business owners are trying to find ways to grow and with tax rates going up, they will have an added burden,” said Malpass, underlining his message during a visit to the Riverhead Chamber of Commerce and at a similar stop in Nesconset.

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The 54-year-old former chief economist for Bear Stearns is facing former Nassau legislator Bruce Blakeman and former U.S. Rep. Joseph DioGuardi in the September 14 Republican primary. The winner will face incumbent Democratic Sen. Kristen Gillibrand in the fall.

Malpass took aim at President Barack Obama’s deficit-reduction plan that would let the current 35 percent tax rate for top households earning more than $250,000 return to a 39 percent rate, allowing it to go back to the former tax rate prior to the tax cut legislation enacted under President George W. Bush.