President Barack Obama announced he will support a 1-year tax cut extension for earners making $250,000 or less, Kristie Arslan, President and CEO of the National Association for the Self-Employed (NASE) reacted today with weariness over one more temporary fix in the tax code:
“The symbolic approach to leveling the tax playing field for millions of small businesses across the country is appreciated, yet this solution cannot be applied piecemeal to the tax code. Self-employed business owners contribute nearly a trillion dollars to our economy and they need a more permanent solution. Temporary tax provisions do nothing but make for difficult tax planning. Additionally, while we support the idea of the tax cut, we believe that moving the threshold to $1 million would better account for the profits and revenues of the nation’s micro-businesses (10 or fewer employees) and self-employed. We will continue to work with lawmakers on both sides of the aisle to press for comprehensive tax reform that addresses the inequalities of the tax code for the self-employed.”