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Policy Agenda: Tax Policy

Publisher: 
Small Business Majority
Date: 
Sat, 1 Apr 2017

The nation’s tax code must create opportunities for small businesses and encourage startups and entrepreneurs. To do that, we must take steps to level the playing field, simplify the tax code and ensure fairness. This includes: 

  • Eliminating wasteful corporate loopholes while lowering corporate tax rates in a manner that ensures a net revenue increase to bring down our deficit and fund key programs.
  • Ensuring any changes to the corporate and personal tax code have a significant, direct benefit to small businesses, as opposed to large businesses and wealthy individuals. 
  • Cracking down on the ability of large corporations to reduce their tax burden simply by moving their headquarters outside the country.
  • Ensuring parity between online and bricks-and-mortar businesses with a reasonable and fair Internet sales tax solution.
  • Simplifying and expanding the small business tax credit created by the Affordable Care Act—helping more small businesses qualify for and utilize it.
  • Passing healthcare tax equity for the self-employed so that freelancers can deduct their healthcare expenses from their FICA tax obligations.
  • Upholding the estate tax in its current form, understanding that it currently protects virtually all small businesses and family farms. 
  • Creating tax incentives for angel investors. More than half of states offer tax incentives for angel investors. Federal support of these efforts would encourage more local and state governments to consider such measures. 

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