Everyone knows that reforming America’s tax system is among the tougher tasks lawmakers consider every year, which is why our tax code has undergone few significant changes over the last two decades. This slow pace of progress, however, is deeply harmful to small businesses that are consistently held back by tax rules that favor large corporations while hindering small firms. On this Tax Day, I offer politicians a common-sense proposal that would correct this problem: eliminate wasteful corporate loopholes while lowering corporate tax rates in a manner that ensures a net revenue increase to bring down our deficit and fund key programs.
President Donald Trump has said repeatedly that he wants to create a paid maternity leave program. During a recent address to Congress he even went a step further, pledging to work with both parties to craft legislation that would benefit new dads as well as new moms. If the new administration is serious about advancing paid parental leave, it should get behind proposed legislation that would create a national paid family and medical leave program, which small businesses overwhelmingly support based on the results of a new survey. Continue reading
Across the Tar Heel State, small businesses brighten up main streets, drive innovation and provide a paycheck to nearly half of the private sector workforce. In a state that’s known as a research and innovation hub and a basketball powerhouse, entrepreneurs depend on a steady stream of tourists, loyal customers and talented employees to keep their businesses thriving. That’s why the fallout over HB 2, the state’s anti-LGBT law, has been particularly harmful to small firms. While the state legislature passed a replacement measure for HB 2 last week, many entrepreneurs are concerned the new law is just as discriminatory and won’t be enough to bring business back to the state.
Lawmakers who dream of gutting the Affordable Care Act (ACA) do not seem to care about its importance to small business owners, particularly those who are solo entrepreneurs. What these politicians fail to understand is that the health care law is the first meaningful insurance reform available to entrepreneurs in decades. In fact, for many self-employed business owners, their firms would not exist without it. That’s why repealing the law is going to be a sizable setback for entrepreneurship. Continue reading
In light of President Trump’s recent address to Congress in which he called for corporate tax reform, some are imploring lawmakers to save small businesses from what has been termed “some of the most anti-business tax rates and rules in the world.”
While tax reform is essential to helping small businesses, many clamoring for changes to the tax code are thinking only of the wealthiest entrepreneurs and not the rest of America’s 28 million small businesses that would benefit from lower corporate tax rates only if that reduction is accompanied by the elimination of costly loopholes that boost profits for large corporations. Continue reading