Tax policy

The Agenda for New Mexico's entrepreneurs

Small Business Majority has created a comprehensive state policy agenda to ensure entrepreneurship is at the center of a thriving and inclusive economy in New Mexico. It’s critical that state lawmakers enact short- and long-term policies to support and empower entrepreneurs by guaranteeing their access to capital, an infrastructure that can support their ability to offer quality jobs, and their ability to compete fairly now and in the future. To achieve these goals, policymakers should consider the following policy proposals. 

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Submitted by Awesta Sarkash on Mon, 12/19/2022 - 11:02

The Agenda for Wisconsin’s Entrepreneurs

Small Business Majority’s policy agenda ensures that small business is at the center of a thriving and inclusive economy in Wisconsin and advances policies that promote equitable pathways for entrepreneurship. The state’s 461,000 small businesses employed 1.3 million people in 2021, and small businesses have historically driven job growth .  Yet, small businesses in Wisconsin continue to face setbacks from the COVID-19 crisis and struggle to access critical financing and resources.

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Submitted by sbm-admin on Fri, 01/03/2020 - 13:14

The Agenda for Virginia’s entrepreneurs

Virginia is home to more than 850,000 small businesses, employing 1.5 million people and accounting for 99.6% of all businesses in Virginia. Small Business Majority has created a comprehensive state policy agenda to ensure small business ownership and entrepreneurship are at the center of a robust, equitable, and competitive economy for the Commonwealth.

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Submitted by sbm-admin on Tue, 12/10/2019 - 11:57

Tax Reform

: Tax Reform

When crafted with the needs of America’s smallest businesses in mind, our tax code can serve as a critical tool in fostering a level playing field between large corporations and the small businesses that rely on tax incentives to grow their operations. However, the current tax code does not work for small businesses. Small Business Majority’s research found that 82% of small businesses believe the current tax code favors large corporations over small businesses.

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Submitted by sbm-admin on Mon, 12/16/2024 - 13:59

Small Business Majority testifies on the importance of enacting bottom-up tax reforms ahead of the 2025 tax policy debate

On November 19, Small Business Majority Founder and CEO John Arensmeyer testified before the Joint Economic Committee at a hearing titled “Building on the Success of TCJA: The 2025 Tax Policy Debate.” John’s testimony highlighted the shortcomings of the 2017 Tax Cuts and Jobs Act (TCJA) for small businesses and the need to implement equitable, bottom-up tax reforms which deliver real benefits for the smallest, most under-resourced businesses ahead of the forthcoming expiration of several TCJA provisions in 2025.

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Submitted by Connor Coursey on Wed, 11/20/2024 - 09:33

Small Business Majority submits comments to House Ways & Means Committee Main Street Tax Team

On October 15, Small Business Majority Founder and CEO John Arensmeyer submitted comments to the House Committee on Ways & Means’ Main Street Tax Team which outlines how Congress can prioritize bottom-up tax reforms for small businesses in the 2025 tax debate.

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Submitted by Connor Coursey on Tue, 10/15/2024 - 07:30

Small Business Majority submits written testimony detailing the importance of supporting entrepreneurs through bottom-up tax reforms

On September 20, Small Business Majority Founder and CEO John Arensmeyer submitted written testimony to the U.S. Senate Committee on Finance which outlines how tax provisions enacted through the 2017 Tax Cuts and Jobs Act have disproportionately benefited larger, wealthier entities as opposed to Main Street businesses.

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Submitted by Connor Coursey on Fri, 09/20/2024 - 08:05

Opinion poll: Small businesses support bottom-up tax reforms

Publisher: 
Small Business Majority
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Date: 
Wednesday, August 28, 2024

Small Business Majority’s new national opinion poll of small businesses reveals that they believe they’re not competing on a level playing field in the federal tax system with large corporations. While many small business owners are aware of and take advantage of the 20% pass-through deduction, the benefits of this deduction are skewed in favor of a small number of the wealthiest businesses. As a result, they support several reforms, including a fixed standard deduction. Additionally, entrepreneurs support maintaining increased IRS funding so that they can properly execute their mission to improve customer service and increased audits of wealthy taxpayers and large corporations.

Small Business Majority submits comments in support of the DEA’s proposed rule to reschedule marijuana as a Schedule III substance

On July 17, Small Business Majority submitted comments in response to the U.S. Drug Enforcement Agency’s proposed rule to reschedule marijuana under the Controlled Substances Act. Due to current restrictions, cannabis businesses, the majority of which are small businesses, are unable to access key tax deductions, government-backed financing, and additional small business resources to help support their enterprises.

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Submitted by Connor Coursey on Fri, 07/19/2024 - 09:49

Small Business Majority submits written testimony on reforming the tax code to foster a thriving and equitable small business economy

On April 5, Small Business Majority Founder and CEO John Arensmeyer submitted written testimony to the House Committee on Small Business ahead of their hearing entitled “Tax Day: Exploring the Adverse Effects of High Taxes and a Complex Tax Code.”

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Submitted by Connor Coursey on Mon, 04/08/2024 - 07:28

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