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On Thursday, September 9, 2021, GCCA joined 119 other associations in sending a letter in the House Ways and Means Chairman Richard Neal urging him to reject any measures that would raise taxes on small businesses as part of the upcoming reconciliation bill. The package of tax hikes being considered by the Biden administration and Congress represents a direct assault on small business owners. Proposals to raise rates on pass-throughs and C corporations, cap the Section 199A deduction, increase the capital gains tax, and impose a new “double death tax” would raise taxes on small businesses when they operate, when they are sold, and when they are passed on to the next generation. Congress should avoid tax policies that harm small businesses at any time and especially while we are amid a pandemic. GCCA continues to have active grassroot campaigns urging congress to reject tax increases. If you have not done so already, please take action HERE.
Read the full coalition letter HERE.