U.S. Rep. Allyson Y. Schwartz (PA-13) issued the following statement at today's House Ways and Means Select Revenue Measures Subcommittee hearing on the Small Business and Pass-through Entity Tax Reform discussion draft. A champion for small businesses, Rep. Schwartz is the lead Democratic member of Congress serving on the bipartisan Ways and Means Working Group on Small Businesses and Pass-throughs. Working closely with the working group Chair Republican Vern Buchanan (FL-16), Schwartz has met frequently with small business owners, tax experts, consumers and think tanks to hear their thoughts on best practices and policy ideas to improve the tax code to promote economic growth.
Small businesses are the backbone of our economy and with the right tools they can create a stronger business climate that encourages growth, innovation and job creation. Small and medium-sized businesses represent 98% of all employers in Pennsylvania and are a large and integral part of our local economy that are vital to our future economic growth. To promote economic growth, jobs and small businesses, Congress must focus on reforming our outdated tax code to ensure our nation's small businesses will be able to put more Americans to work and build long-term economic growth.
I look forward to working to simplify and update the tax code to grow the economy and strengthen America's small businesses. The draft proposal has many ideas that enjoy bipartisan support and will better incentivize entrepreneurship and innovation.