11.15.17

‘Tax Relief To Enable Small Businesses To Grow’

National Federation Of Independent Business ‘Strongly Supports The Chairman’s Mark’

JUANITA DUGGAN, President & CEO, NFIB: “On behalf of the National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, I am writing to thank you and your staff for your continued commitment to America’s small businesses. NFIB strongly supports the Chairman’s Mark, as modified, to provide appropriate tax relief for America’s small businesses.” (Juanita D. Duggan, NFIB, Letter To Sen. Hatch, 11/14/2017)

  • DUGGAN: “Ninety-nine percent of all American businesses are small, and they create half of all private sector jobs and contribute half the nation’s gross domestic product. The Chairman’s Mark will provide much needed tax relief to enable small businesses to grow and create jobs. NFIB strongly supports and urges the Committee to adopt the Chairman’s Mark.” (Juanita D. Duggan, NFIB, Letter To Sen. Hatch, 11/14/2017)

LINDA McMAHON, Small Business Administration Administrator: “I think the best solution that we can offer for our small businesses as well as large businesses and our middle-income families is to make sure that we are reducing those taxes so that they have more money in their pockets to invest in their businesses.” (“McSally And SBA Administrator Linda McMahon Hold Tax Reform Round Table,” News 4 Tucson, 11/10/2017)

SEN. GRASSLEY: ‘Small Businesses Will … See Significant Tax Relief’

SEN. MITCH McCONNELL (R-KY): “The plan before the committee fulfills important goals that all of us should share. It aims to make taxes for families lower, simpler, and fairer. … It also aims to make it easier for small businesses to grow, invest, and hire. For Kentucky’s small businesses and for those across the country, this proposal will help do just that by creating incentives to bring investment and jobs home and keep them here.” (Sen. McConnell, Floor Remarks, 11/15/2017)

SEN. ORRIN HATCH (R-UT), Finance Committee Chairman: “The [latest version of the tax reform bill] streamlines pass-through provisions, ensuring more small businesses – the engines of job creation for our economy – have greater access to the benefits.” (U.S. Senate Finance Committee, Press Release, 11/15/2017)

SEN. CHUCK GRASSLEY (R-IA): “Our bill recognizes the importance of small businesses in our economy.” (Sen. Grassley, Congressional Record, S. 7141, 11/09/2017)

  • SEN. GRASSLEY: “Small businesses will also see significant tax relief from the rate reduction on the individual side but also from an innovative, new small business income tax deduction…. It will provide much needed tax relief to nearly all small businesses, down to the smallest family-owned corner store and family farmer…. The tax savings they receive could be spent on a new hire. It could be spent on giving raises to employees in those same small businesses. It could be invested in a growing company. All of this adds up to Americans seeing more ‘Now Hiring’ signs throughout our country.” (Sen. Grassley, Congressional Record, S. 7141, 11/09/2017)

SEN. JOHN CORNYN (R-TX): “If what we want is more, better paying jobs--and we do--then we have to focus on lowering rates on all the job creators, including small businesses … The framework we have developed was designed to cut taxes for middle-class families ... It is to help small businesses grow and create more jobs.” (Sen. Cornyn, Congressional Record, S. 7141, 11/09/2017)

SEN. JOHN THUNE (R-SD): “Our bill is also going to reform the business side of the Tax Code to give Americans access to the jobs, the wages, and the opportunities that will set them up for a secure future. We are going to make it easier for small businesses to raise wages and to hire new workers.” (Sen. Thune, Congressional Record, S. 7142, 11/09/2017)

SEN. ROB PORTMAN (R-OH): “Everyone has agreed that we need to lower the rates on small businesses. … to be sure that small businesses are taken care of because that's where a lot of the growth innovation is going to occur.” (Bloomberg, 11/9/2017)

SEN. TIM SCOTT (R-SC): “I had the great pleasure to be a small business owner before entering Congress. Many small business owners represent the backbone of our economy. Most jobs created in the future will be created by a small business owner. We are going to lower your taxes so that you can hire more people and make long-term investments in building the greatest economy this country has known in more than a generation.” (Sen. Scott, Congressional Record, S. 7141, 11/09/2017)

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Related Issues: Jobs, Middle Class, Tax Reform, Taxes, Economy