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Throughout 2017, the U.S. Chamber of Commerce has traveled across the country to speak with small business owners about what actions Congress needs to take to unleash Main Street growth.
The message from job creators is clear: they want to hire more workers, purchase new equipment and technology, and invest in their local communities. However, with a tax rate as high as 44.6 percent, many small businesses are forced to send the money they would’ve used to grow their businesses back to Washington.
To ignite small business growth, Congress must pass comprehensive tax reform that lowers tax rates for job creators. When Main Street is able to keep more of the money they earn and send less money to Washington each year, workers across the country will see higher paychecks, more job opportunities, and a stronger economy.
As Caroline Harris, U.S. Chamber of Commerce vice president of tax policy and chief tax counsel, said in a new video:
For too long America’s 28 million small businesses have been straining under the burden of an outdated, uncompetitive, and overly complex tax system. There is nothing more important we can do to support our nation’s job creators than passing tax reform.
Maxine Turner, U.S. Chamber Council on Small Business chair, reinforced the importance of tax reform at the U.S. Chamber’s annual Small Business Summit:
We've been waiting for tax reform for a long time. It's important that it happens. If Congress gets tax reform done, I think it’s going to be a tremendous boost to this country. Small business has been on hold for way too long.
That’s why the U.S. Chamber is urging Congress to jumpstart the U.S. economy by passing comprehensive, pro-growth tax reform that lowers tax rates for small businesses and simplifies today’s tax code maze.
Last week, the U.S. Chamber launched a media campaign in several New York congressional districts asking families, workers, and job creators to call their U.S. House Representative to tell them, “The time for tax reform is now.”
It’s been 31 years since the last overhaul of our nation’s tax code in 1986, and America’s Main Streets cannot wait another 31 years. Now is the time for Congress to pass comprehensive, pro-growth tax reform that accelerates small business growth.