Issue Campaign Will Oppose Proposals To Increase Taxes, Mandates On Small Business
WASHINGTON, D.C. (May 21, 2021) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, today announced the launch of the Small Business Survival campaign to protect America’s small businesses by opposing new tax increases and regulations that would harm their fragile economic recovery. Both the proposed American Jobs Plan and the American Families Plan would increase taxes and mandates for millions of America’s small businesses, family-owned businesses, and farms.
The Small Business Survival campaign is a coordinated advocacy effort that will include targeted traditional and digital advertising, media initiatives, research, grassroots, lobbying, and other efforts that will highlight why tax increases would be harmful to small businesses while holding members of Congress accountable for their support of the tax hikes and mandates.
More about the campaign can be found here: NFIB.com/SmallBizSurvival
“Small Businesses have been hammered by the pandemic and government-imposed shutdowns. They have spent the last year trying to help their employees, keep their doors open, and are ready to hire and grow. But just as the small business recovery is beginning to take hold, Washington wants to hit small businesses with massive tax increases and new mandates,” said NFIB President & CEO Brad Close. “Small businesses bore a huge part of the economic pain last year, are finding it increasingly difficult to fill job openings, and facing rapidly rising prices. With a record-high 44% of small businesses unable to fill job openings, it is unbelievable that Washington’s answer is to increase their taxes and create more regulations.”
After the Tax Cuts and Jobs Act was enacted in 2017, 54% of small business owners reported that the tax law had a positive impact on their business according to NFIB’s tax survey. A quarter of small business owners who reported tax savings from the law raised spending on employee compensation and wages. Owners also reported spending on business investments and expansion. The tax savings motivated 16% of small business owners to hire additional employees.