On February 25, the Small Business Tax Fairness Coalition (SBTF) sent a petition to Capitol Hill signed by nearly 250 small business owners from across the country which urges Congress to prioritize small business growth and protect access to healthcare through targeted tax reform. The petition outlines how Congress can support small businesses by reforming the 199A pass-through deduction, expanding the Child Tax Credit (CTC), extending the Affordable Care Act's Enhanced Premium Tax Credits, and adopting commonsense revenue measures, such as raising the corporate tax rate.
Policy Statements
On February 24, Small Business Majority sent a letter to House leadership in opposition to the Republican budget resolution which outlines up to $2 trillion in spending cuts and makes way for upwards of $4.5 trillion in tax cuts that will largely benefit large corporations at the expense of small businesses. This destructive spending plan would cut funding for the programs that small businesses rely on everyday, including Affordable Care Act (ACA) subsidies, Medicaid, and U.S. Department of Agriculture loan and grant programs that support rural businesses and farmers.
On February 21, Small Business Majority submitted a Statement for the Record in response to a recent U.S. House Committee on Small Business hearing titled “Driving Economic Growth: SBA Lending Programs and the Vital Role of Community Banks.” The statement emphasizes the need to protect Section 1071 of the Dodd-Frank Act to enhance transparency in small business lending, expand access to small-dollar loans, and support the ongoing implementation of the State Small Business Credit Initiative (SSBCI).
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 York. 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 on a level-playing field. To achieve these goals, policymakers should consider the following policy proposals.
On February 19, Tracy DuCharme, owner of Color Me Mine in Colorado Springs, testified in support of House Bill 11 which would establish a paid family and medical leave program in New Mexico. She shared the positive impact of Colorado's paid family and medical leave program on both her employees and her business.
On February 19, Small Business Majority Colorado Director Hunter Nelson testified in support of House Bill 25-1021, legislation that would extend Colorado’s Employee Ownership Tax Credit to Establish or Expand through income tax year 2037. It would also increase the percentage of conversion or expansion costs that are eligible to be claimed for the credit from 50% to 75% beginning in tax year 2026.
On February 19, Small Business Majority Colorado Director Hunter Nelson testified in support of House Bill 25-1090, legislation that would provide greater transparency in pricing of goods, services and property for both consumers and small businesses, including common area maintenance (CAM) fees for small businesses.
On February 19, Kristen Worthington, owner of Worthington Farms, testified in support of House Bill 11 which would establish a state-run paid family and medical leave program in New Mexico.
On February 18, Small Business Majority Hunter Nelson testified in support of House Bill 25-1094, legislation that would require Pharmacy Benefit Managers (PBMs) to be compensated only through a flat fee on each transaction.
On February 18, Small Business Majority Colorado Director Hunter Nelson testified in support of HB25-1011, legislation that would protect Colorado's entrepreneurs, families and childcare small businesses from the negative impacts of an institutional investment entity acquiring a childcare center.