Small Business Leaders: Ways & Means Tax Plan is a "Pro-Business Agenda" That Would Boost Small Business
Washington, D.C.— As the House Ways and Means Committee continues its markup of the Build Back Better agenda today, small business advocates gathered for a press call hosted by Invest in America Action to discuss the Committee’s draft tax plan and how it will benefit small businesses. A recording of the call is available here.
The Ways and Means Committee’s plan would pave the way for a once-in-a-generation investment in child care, education, housing, and more that will create millions of jobs and lower costs for American families. It would also correct inequities in a tax system that has for far too long benefited big corporations at the expense of small businesses. A recent report from the Treasury department found that the Build Back Better Agenda would protect 97 percent of small business owners from income tax rate increases. What’s more, the plan would deliver tax cuts to more than 3.9 million entrepreneurs.
Main Street Alliance Co-Executive Director Stephen Michael, Small Business for America’s Future Co-Chair Anne Zimmerman, and Small Business Majority Founder and CEO John Arensmeyer made the following statements at a press call:
“This is a pro-business tax agenda. It recognizes that fair taxation and economic equality are bottom lines for a strong small business economy,” said Stephen Michael, Co-Executive Director of Main Street Alliance. “Small businesses do better when the communities in which they operate do better and when their customers have spending power — a fair tax system is a key part of that. If we maintain this status quo, which is a tax system stacked against small businesses and not enough public investment in core social safety net programs like paid family medical leave, health care, and child care, then businesses are going to struggle to recover. That’s why we’re calling on our elected officials to do the right thing and stand with our small business and community.”
“As the Delta variant threatens our recovery from the pandemic, it is essential we address the long-term needs of our small business community. This means bringing more resources to the table to help invest in our infrastructure and care economy,” said Anne Zimmerman, Co-Chair of Small Business for America’s Future. “According to a Small Business for America’s Future survey from this spring, 75% of small business owners said that they believe large corporations do not pay their fair share of taxes, and a striking 67% of small business owners support increasing taxes on corporations to pay for proposed infrastructure investments. The proposed tax plan from the House Ways and Means Committee is an important step towards building a more equitable tax code, leveling the playing field for small businesses, and would be a boost for Main Street communities.”
“Coming off of the pandemic, we have seen the disproportionate impact on the smallest businesses — businesses in the most underrepresented communities and communities of color,” said John Arensmeyer, Founder and CEO of Small Business Majority. “Now is exactly when we need to be investing in small business owners who are creating jobs in underrepresented communities and across the country, whether it comes to health care affordability, paid family medical leave, child care, or expanding access to capital.”
About Small Business Majority
Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and equitable economy. We engage our network of more than 85,000 small businesses and 1,500 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.