Small Business Majority has created a comprehensive state policy agenda to ensure entrepreneurship is at the center of a thriving and inclusive economy in Georgia. The state’s 1 million small businesses comprise 99.6% of all businesses in the state, and they employ 1.6 million residents—nearly half of all Georgia employees.
The White House's $2 trillion proposed American Jobs Plan—an infrastructure reform plan—continues to be hotly debated on Capitol Hill, and proposals to pay for infrastructure investments via tax reforms are some of the most contested pieces of the plan. A new small business survey reveals that small businesses strongly favor key provisions of the American Jobs Plan, and they support paying for them by enacting reforms that would require wealthy corporations and individuals to pay a higher share of taxes.
Small Business Majority will submit testimony to the Senate Finance Committee in suport of House Bill 21-1312 on May 26, which would provide tax relief for small business owners through the Business Personal Property Tax Reform and eliminate wasteful tax loopholes that don’t benefit our economy.
Today, John Arensmeyer submitted a letter to congressional House and Senate leadership outlining the key provisions in the American Families Plan that would support small businesses. Additionally, the letter provides recommendations for how to structure tax reforms to ensure they level the playing field for small businesses.
As a leading representative of America’s 30 million small businesses, we offer the following recommendations on what small businesses are hoping to hear in President Biden's remarks when he addresses Congress on Wednesday, April 28.
Today, John Arensmeyer submitted a letter to Congressional House and Senate leadership outlining the key provisions in the American Jobs Plan that would support small businesses. Additionally, the letter provides recommendations on how to better support small businesses in changes to the tax code that would level the playing field.
A year into the pandemic, many small businesses in Illinois continue to struggle to keep their doors open. While government funding programs have provided a crucial lifeline for many businesses, one-off funding opportunities are not going to be enough to support the long-term recovery of our small business economy. The proposed Illinois Earned Income Credit (EIC) expansion would help address this by closing the gaps in federal funding relief programs and putting more money into the pockets of low-income and working-class Illinoisans.
Small Business Majority wrote to the Georgia Senate Finance Committee to request that language establishing a state earned income tax credit (EITC) be added to HB 593, the Tax Relief Act of 2021. This would put money directly in the pockets of small business owners and stimulate local economies.
Small Business Majority submitted a letter to the Georgia Senate Finance Committee to ask them to remove legislation implementing a CAPCO tax credit program from HB 587, which would provide $150 million worth of tax credits to “certified capital companies.” The CAPCO model is fundamentally flawed and this money would be much better spent directly supporting Georgia's small businesses.
Today, Small Business Majority submitted a letter to Senate leadership supporting healthcare provisions in the current iteration of the American Rescue Plan, which has vital measures that will strengthen access to healthcare and lower costs for small businesses and their employees.
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