Congress: Here We Go Again

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Welcome to the Self Made. This is a blog focused primarily on the self-employed and micro-business and full of fantastic posts by not only our team of experts but by YOU!  We realize that there are many ways to help the small businesses out there which is why we invite other business minded individuals to post here and help the rest of the community as well.

Congress: Here We Go Again

Apr 25, 2012

Posted by Katie Vlietstra - The continued back and forth between the Senate and House on legislation aimed and helping the self-employed and small business community has resulted in possible bipartisan collaborations. In addition, recent statements in the press have indicated interest in moving a large package that would group together several bipartisan pieces of legislation, including tax credits for reinvestment and hiring of employees in advance of the November election. 

The NASE believes this would be a natural vehicle to attach the Small Business Tax Extenders bill to, allowing for a diverse, powerful piece of legislation that would speak directly to the self-employed community. 

As reported earlier this week, Senators Mark Warner (D-Va.) and Marco Rubio (R-Fla.) are interested in putting forth a package of small-business incentives, which would group together several already introduced pieces of legislation. At the heart, it would show how the Senate would like to address expired or expiring tax breaks benefitting the self-employed community.

The NASE has continued to argue that, of late, proposed legislation targeting the small business community virtually ignores the 22 million strong self-employed community, which face continued inequities in tax policy.   

In light of the partisan struggles that have eclipsed the Senate and the House, reports indicating that conversations are occurring across the aisle in the Senate shed a glimmer of hope that both chambers will be spurred to action and address both individual and corporate tax reform before the November election.  The greatest mischarge would be waiting until after the November election and rush through legislation that is short-sided in its scope.  

Once again, the NASE asks lawmakers to address the health insurance deduction, startup deduction, and move forward with the simplification of the home office deduction, all three equaling real dollars back in the pockets of the self-employed. 

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