Action Center
To remain competitive, small businesses require a tax code that prioritizes their sustainability and growth, enabling them to make investments in their operations and workforce. However, our nation’s current tax code does not work for Main Street. The tax system favors large corporations over small businesses. As economic uncertainty continues to weigh on Main Street, it’s no surprise that 88% of small businesses have listed tax relief and incentives as their top priorities for the 119th Congress. Congress must stand with America’s entrepreneurs and act quickly to provide the true tax relief that so many lawmakers claim they want for small businesses.
Recent (and proposed) actions taken by the administration, including federal funding freezes, the termination of many federal contracts and the downsizing of the U.S. Small Business Administration (SBA) may have impacts on small businesses. In order to understand how and if these changes are affecting small businesses, we are collecting stories and feedback. If your business has encountered an economic setback due to these actions or if you are feeling optimistic about these policies, we want to hear from you.
Small business owners are the backbone of our economy, but unfair tax policies and rising costs threaten our ability to thrive. This year, Congress will consider key tax reform policies that will have a far-reaching impact on Main Street. If Congress extends tax breaks for corporations and the wealthy while letting critical healthcare tax credits expire, small businesses and their employees will face higher premiums and greater financial strain. What's more, today's small business tax code isn't truly delivering for Main Street - our coalition supports implementing reforms that drive benefits to the smallest businesses, not tax gamers. Instead of more corporate giveaways and an extension of the status quo, this Congress, lawmakers should invest in policies that support small businesses—like tax reform that levels the playing field for Main Street, protecting programs that foster access to affordable health and child care support.
Sign this petition to tell Congress: Don't cut programs like premium tax credits, or care economy investments, to pay for tax cuts for large corporations!
Currently the federal Truth in Lending Act (TILA) requires that consumer creditors disclose critical financing information, including annual percentage rate (APR), in a clear and comparable format. However, Congress has yet to extend these disclosure requirements to small business loans and other credit products, which means small businesses are vulnerable to irresponsible lenders. As small businesses recover from the pandemic, it should go without saying that transparent lending shouldn’t be up for debate. Small businesses deserve to safely shop for capital without being concerned about exorbitant APR and unfair or opaque loan terms.
When healthcare and prescription drug costs continue to rise, employers must either absorb those or pass them on to their employees. And with drug prices continuing to rise, it’s becoming increasingly more difficult to purchase life saving medications for myself, my employees and their families. In fact, between 2015 and 2019, the average increase in the annual cost of prescription drugs rose by 26.3% for Virginians. That’s why it’s important for Virginia legislators to establish a Prescription Drug Affordability Board (PDAB), which would give third party, nonpartisan medical experts the power to review and set cost limits on certain drugs. A PDAB would help address the cost of prescription drugs that businesses–and our employees–struggle to afford.
A paid family and medical leave program in Georgia would allow small business owners and their employees to contribute to an insurance pool that would help provide access to paid leave when employees need time to care for their families. At the same time, it would help small businesses compete with larger employers that can afford to offer paid family and medical leave on their own. What’s more, these programs find strong support among the small business community. We urge lawmakers to move forward and pass a paid family and medical leave program in 2025.
Small Business Majority maintains a story bank that chronicles the personal experiences of small business owners across the United States. In today’s world, entrepreneurs like you often make tough decisions affecting their bottom line, and we want to hear about them. We are committed to ensuring your voice is heard by policymakers on some of the most important issues affecting small businesses so we can advocate on your behalf. To tell us your story, please fill out this form and we’ll be in touch.
