NFIB leaders are discussing the threat of the $3.5 trillion taxing and spending bill in a series of national and local radio interviews
The $3.5 trillion spending bill in Congress is still a threat to small businesses. If it becomes law, small businesses are looking at a slew of tax increases that would hit them from many angles including raising small business income taxes, capping the small business deduction, and raising capital gains and estate taxes.
In the continuing fight on behalf of small businesses, NFIB President Brad Close, NFIB Vice President of Federal Government Relations Kevin Kuhlman, and Research Center Executive Director Holly Wade are taking part in a series of radio interviews across the nation, urging Congress to vote NO on tax hikes on small businesses.
“The House members’ voting record right now is pretty poor,” said Close in a recent radio interview. “But we are just telling them all they have got to vote no on these tax hikes. They are going to crush small businesses. Everyone’s trying to get out of the recession, trying to get out of this pandemic, and this is just going to put a nail in the coffin for so many people.”
The radio tour includes stops in Texas, Nevada, California, Iowa, Georgia, New Hampshire, West Virginia, Ohio, Florida, Arizona, New York, and Michigan with more being added. Last week, NFIB also expanded its multi-state paid advertising campaign to now include Iowa, New Hampshire, Virginia, and Kansas. The campaign encourages members of Congress to vote against devastating tax hikes on small businesses.
Proposals in the $3.5 trillion taxing and spending bill include raising the top income tax rate on individuals, increasing the top corporate tax rate, a tax increase for pass-through businesses like LLCs and Sole Proprietorships, mandating businesses with six or more employees provide auto-enrollment retirement plans, and mandating paid leave.
“We’re doing everything we can to kill this bill when it comes up for a vote,” explained Close. “They call it a spending bill but it’s just a huge tax hike bill that will enable the government to grow significantly. They don’t have a clue how these taxes hurt small business and they are going to hit lots of businesses that are well under the threshold of what they call rich.”
Your U.S. Representative and U.S. Senators need to hear from you on how your small business would be impacted by Washington’s proposed tax increases and mandates. Even if your members of Congress have already voiced opposition to the Build Back Better Act‘s tax hikes and mandates, they need to hear your stories to reinforce why their opposition is absolutely crucial. Our Take Action system makes it easy to customize your message when you tell Congress to vote no on any small business tax increases.