Small Business Views on the Fiscal Cliff and Proposals to Address it
As small business owners prepare to close the books on 2012, our country is fast approaching the edge of what’s been dubbed the “fiscal cliff.” This critical situation—created by a host of tax cuts set to expire at the end of 2012, coupled with billions of dollars in automatic spending cuts that will be triggered if Congress and the president can’t agree on a way to reduce the deficit by year’s end—has dire consequences for small businesses. Many of the tax provisions set to expire benefit small businesses and the middle class, small businesses’ core customer base.