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House GOP Tax Bill a “Great Step” for Small Businesses & Self-Employed
FOR IMMEDIATE RELEASE : CONTACT: Kristofer Eisenla, LUNA+EISENLA media kristofer@lunaeisenlamedia.com 202-670-5747 (mobile)
Plan Simplifies Tax Code; Overall Reduction in Tax Rates, including the Individual Rate, Plus Doubling of the Standard Deduction High Points of Package WASHINGTON, D.C. – Keith Hall , President and CEO of the National Association for the Self-Employed (NASE) , the nation's leading advocate and resource for the self-employed and micro-businesses, issued the following statement in reaction to today’s release of the House GOP tax proposal:
“The most precious resource for America’s small business community is their time – time to operate, time to save, time to grow, and time to create more new jobs. Any tax reform proposal that seeks to promote a more simplified and efficient tax code will ultimately save small businesses time and money, and create the economic growth that only small business can sustain.
“The House GOP tax proposal released today is a great step in simplifying the burden of overall tax compliance. Reducing the number of tax brackets from 7 down to 4, reducing the number of itemized deductions while increasing the standard amount, and eliminating the alternative minimum tax and the estate tax will all provide significantly easier tax returns and easier tax planning for small business owners.
“The reduction of overall tax rates, including the tax on small business income and the aggressive expensing of new business equipment, can provide needed capital for small businesses to expand their operations and create even more needed jobs for our communities.
“Throughout this process, we are committed to providing a voice for America’s smallest businesses, those ‘Mom and Pop shops’ along every Main Street in America with ten or less employees. I encourage small business owners everywhere to let your voice be heard as well. Let your congressional leaders know what is important to you.
“These proposed changes to the tax code would have a significant impact on the over 27 million self-employed and micro-business owners who file their returns as individuals. It is important that we continue to work towards creating equity between corporations and small businesses. During this long process of producing a final tax reform package, we look forward to working with both Congress and the Trump Administration in sharing our views on how to create a plan that both ensures parity and saves time for the American small business community.”
To speak with Keith Hall about the implications of this proposal on the small business community, please contact Kristofer Eisenla at Kristofer@lunaiesenlamedia.com
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The National Association for the Self-Employed (NASE) is the nation's leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy.
The NASE Next Biz Thing helps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support.
The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's website at NASE.org