WASHINGTON, D.C. (July 7, 2022) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement regarding the latest plan by the Senate to implement the Small Business Surtax and raise taxes on Main Street:

“This plan to implement a Small Business Surtax is a direct attack on Main Street when they can least afford it,” said Kevin Kuhlman, NFIB Vice President of Federal Government Relations. “With excessive inflation, high gas prices, worker shortages, and supply chain disruptions, a tax increase dishonestly masked as closing a ‘loophole’ or ‘funding Medicare’ is not only problematic, but it could also trigger a small business recession that would have a devastating impact on economic recovery. Congress should immediately reject this anti-small business provision and NFIB will actively work against its passage.”