Tax policy

As 2012 progresses, the political heat in Washington is climbing faster than summertime temperatures, and small business is becoming increasingly central to policy debates in Congress. Entrepreneurs make up a core constituency in the United States. With National Small Business Week having recently ended, now is a better time than ever for legislators to reflect on these individuals’ needs and work to address them — one of which is tax relief. Luckily, Congress will have a chance to do just that when the Small Business Jobs and Tax Relief Act of 2012 comes up for a vote in June.

It was disappointing to see the Paying a Fair Share Act, or the “Buffett Rule,” fail to pass the Senate today. According to national opinion polling, small business owners believe they’re at a disadvantage when it comes to taxes and agree individuals earning more than $1 million should be taxed at a higher rate. The Buffett Rule was in line with their views and could have been an important first step in much-needed comprehensive tax reform.

Small business owners believe they’re at a disadvantage when it comes to taxes and support a higher tax rate for individuals earning more than $1 million a year, according to national opinion polling. The Paying a Fair Share Act (also known as the Buffett Rule), introduced today and slated to be voted on in the Senate next week, is in line with the views of our primary job creators and is one piece of much-needed comprehensive tax reform.