Voice of Free Enterprise Buys Radio Ads Urging Lawmakers to Override Veto of Tax-Relief Bill
UPDATE: August 6, 2013 – The Voice of Free Enterprise Inc. has introduced a second radio ad. Listen to the MP3 here.
JEFFERSON CITY, July 16, 2013 – The Voice of Free Enterprise Inc., today launched a statewide radio ad campaign urging lawmakers to override Gov. Jay Nixon’s veto of a bill to cut taxes on individuals and businesses.
The VFE, along with its affiliate, NFIB/Missouri, is part of Grow Missouri, a broad coalition of business and consumer groups focusing on efforts to override the governor’s veto of House Bill 253.
If the bill becomes law, it would reduce taxes on individuals and corporations and create a new deduction for business income reported on individual tax returns.
“This is a big deal to small, family-owned businesses, especially those organized as pass-through entities,” said Brad Jones, state director of NFIB/Missouri and a spokesperson for VFE.
A pass-through entity is any company that is organized as a sole proprietorship, a partnership, LLC, or S Corporation. They are taxed at the individual rate, not the corporate rate. The term “pass-through” comes from the way the income earned by the business passes through to the owner. HB 253 calls for a 50-percent tax cut for these businesses over the next five years if state income exceeds expenditures.
Seventy-five percent of small businesses operate as pass-through entities, according to the most recent NFIB figures.
“Cutting taxes on small business would give a tremendous boost to the Missouri economy by making it easier for businesses to expand and create jobs,” Jones said.
Legislators will return to Jefferson City in September to consider possible veto overrides.
Download VFE’s ad (MP3).
Here is a transcript of the ad:
“Here’s a question for all Missourians. If small business if the backbone of our economy, then why not let them keep more of what they make? That will happen if the legislature overturns the veto of HB 253. NFIB, the National Federation of Independent Business, supports the growth of our Missouri entrepreneurs. Please visit GrowMissouri.com today and encourage your legislators to give all Missourians a tax break for the first time in 100 years. Paid for by the Voice of Free Enterprise.”
Voice of Free Enterprise (VFE) is dedicated to promoting free enterprise and entrepreneurship in communities large and small across America. We believe that America’s entrepreneurial spirit is our greatest resource, and must be protected and fostered in order to give our nation’s current entrepreneurs, and the and next generation of innovators, job creators and risk takers, the greatest chances to succeed in the ever-changing global economy. VFE is committed to enhancing American free enterprise through education and awareness at the national, state and local levels. As an advocate for all Americans concerned about the current state of small and independent businesses, the VFE will fight to increase opportunities for participation in our free enterprise system, and for responsible, pro-growth government policies that promote American business ownership and entrepreneurship. VFE is affiliated with the National Federation of Independent Business (NFIB).
Since 1986, our small business members have told us that increasing healthcare costs are their No. 1 problem. NFIB has worked tirelessly to offer solutions and encourage Congress to pursue reforms that will help lower healthcare costs and provide affordable options for small businesses. Given the sweeping new law, the Patient Protection and Affordable Care Act (PPACA), there are many small business owners looking for help on how to comply. NFIB will continue to pursue reforms and repeal measures that minimize the potential harm from the new law and offer solutions to the serious challenges that small business owners and their employees face.
Overzealous regulation is a perennial cause of concern for small business owners and is particularly burdensome when the nation’s economy teeters on the brink of disaster. Unfortunately, the regulatory burden on small business continues to grow. Congress must step in and curtail costly regulations, particularly those of such anti-small business arms of government as the Environmental Protection Agency and the Department of Labor, which fail to fairly and effectively weigh the costs and benefits of excessive regulations to the American public.
NFIB is fighting to prevent an end-of-year tsunami of bad tax policy that will impact all Americans. If Congress fails to act, a slew of expiring tax provisions will raise taxes on both business owners and their customers. Among the tax provisions scheduled to dramatically increase at the end of 2012 are marginal tax rates for individuals, the estate tax, capital gains and dividend rates. We are committed to advocating for a permanent solution to this problem that will provide both tax relief and certainty to small businesses.
Small business owners know that employees are their most valuable resource. They work hard to train and retain employees by creating a rewarding workplace. However, government rules and regulations have made labor issues more complicated than ever. Small businesses operate differently than large businesses; they do not have human-resources departments to track the changing standards and mandates that affect their workforce and workplace. NFIB urges Congress to simplify the employment process for small business, eliminate burdensome mandates and prevent cumbersome regulations that inhibit job creation.