President Trump unveiled the broad strokes of his tax reform plan April 26, and Minnesota small business owners see a plan to make American businesses competitive, according to the Star Tribune. While details of the plan are forthcoming, the major point of lowering the corporate tax rate to fifteen percent has garnered support.
“This will have a positive effect on our [and all] business and allow us to invest more capital back into growing our company,” said Andrew Clark, CFO of C.H. Robinson to the Star Tribune. “Investing more capital means hiring more people and purchasing more services — investments that help grow the economy.”
The Minnesota Business Partnership also signaled its enthusiasm for the tax plan. Executive director Charlie Weaver said that the reduced corporate tax rate would bring American businesses in line with other countries and allow them to become more competitive.
NFIB is a strong supporter of the president’s plan.
“We applaud President Trump for continuing to push for tax reform that would provide relief to businesses of all sizes and structures,” said NFIB president and CEO Juanita Duggan. “Small business makes up nearly half of the economy and nearly half the jobs. If the goal of tax reform is to boost the economy, then tax reform must start with small business.
“The President’s proposal for rate parity would make American businesses immediately more competitive. A low, single business tax would supercharge the economy, and create an even playing field for small businesses and large corporations. We are very happy that the White House has listened to small businesses.”
