“Wall Street companies have permanent tax relief, while Main Street businesses like mine have been preparing for the Small Business Deduction to expire at the end of this year. If that sounds unfair, that’s because it is.”
NFIB launched a campaign opposing tax increases on small businesses
Main Street will pay more if the 20% Small Business Deduction is allowed to expire in December.
Senate and House leaders are hoping to adjourn before Easter.
Advocates for restoring higher income taxes are proposing legislation that is a variation of a 2016 referendum proposal. LD 1089 would impose a 4% surtax in taxable incomes above $1,000,000 and use the revenues to support State funding of local education costs. As proposed, LD 1089 would make Maine second only to California for the highest state tax rate on taxable incomes over $1 million.
“The MTA payroll tax was increased just two years ago and congestion pricing began in January — it is baffling that Albany is already talking about another tax hike,” said Ashley Ranslow, the New York director of the National Federation of Independent Business. Raising the tax, Ranslow argued, would lead to “more vacant storefronts and a higher cost of living for all New Yorkers.”
Vermonters and Lawmakers Rally to Repeal Clean Heat Tax.
Michigan State Director Amanda Fisher testified before the House Finance Committee
NFIB issued the following statement following President Trump’s speech before a Joint Session of Congress.
The U.S. House budget resolution would allow Congress to use the budget reconciliation process to make the 20% Small Business Tax Deduction permanent. NFIB designated this as a Key Vote to track lawmakers’ support.
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