Bill from Rep. Buchanan would create level playing field for businesses of all sizes
For Immediate Release
Andrew Wimer, 202-314-2073 or 703-298-5938 (cell)
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Washington, D.C. (November 18, 2016) – The National Federation of Independent Business (NFIB) announced its support for legislation from Rep. Vern Buchanan (FL-16), the Main Street Tax Fairness Act. The bill would reduce taxes on small businesses and ensure that all businesses compete on a level playing field going forward.
“For small businesses, tax parity with big corporations is an important principle,” said NFIB President and CEO Juanita Duggan. “The vast majority of small businesses are pass-through entities that pay taxes at the individual rate. Some of them actually end up paying at a higher rate than the big corporations they compete against. We are grateful to Congressman Buchanan for introducing the Main Street Fairness Act, and we strongly urge that it become a central feature of comprehensive tax reform in the next Congress.”
“The time is right for Washington to pass a tax reform package that grows our economy and unleashes the power of small businesses,” Buchanan said. “It’s absurd that small businesses face a higher tax rate than ExxonMobil. We have to level the playing field as part of tax reform.”
This week, the NFIB issued a letter supporting H.R. 5076, the Main Street Fairness Act. Small businesses strongly support tax reform that would unlock economic growth.