NFIB's Duggan: Tax Reform Starts with Small Business

Date: April 06, 2017

Dear NFIB Member:

As you know, the U.S. House of Representatives failed last month to consider the American Health Care Act (AHCA). Congressional leaders and the White House have signaled that they will move on to tax reform. It’s a critically important undertaking for the sake of small business and the larger economy. That will be our primary focus for the remainder of the year. 

According to the 2016 NFIB Small Business Problems and Priorities Report, five of the top 10 concerns for small business owners are tax-related. The most severe tax problem is “federal tax on business income.” Thirty percent of small business owners say it is a critical problem.

The second most severe tax problem is “tax complexity.” The proliferation of new tax rules and laws makes it very difficult for small business owners to keep up with the changes. Large corporations typically have in-house tax experts and lawyers to help them navigate the code. Eighty-eight percent of small and independent business owners must hire outside professionals, which is expensive and time consuming.

NFIB supports tax reform that ensures small and independent businesses don’t pay a higher tax rate than their large competitors, and that also reduces the complexity of the code. More than 99 percent of all U.S. employers are small businesses. You and your fellow small business owners create more than half of all jobs and generate half of the country’s GDP. If the purpose of tax reform is to boost the U.S. economy and create more jobs, then tax reform must start with small and independent business.

We are pleased that the White House plan for tax reform seeks to simplify the tax code, lower the rates, and eliminate the disparity between large companies and independent businesses. We will work with Congress to ensure that its plan includes those goals.

NFIB is working hard in the states as well. Many of you have already attended a NFIB Small Business Day at the Capitol event. If you haven’t, please consider it. Every year, most of our state offices invite members to their state capitol for the day to be briefed by governors, cabinet officials, and legislative leaders on key issues. More importantly, it’s an opportunity for those public officials to hear directly from you. It’s one of the many ways that NFIB helps small business owners get direct access to policy makers and amplify their voices.

Thank you again for your membership. As always, please don’t hesitate to contact us with any concerns or questions.     

Sincerely,

Juanita Duggan, NFIB President and CEO

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