Dear Friends,
Once again, small businesses are being left out of President Obama's economic plans. He announced this week that he is willing to consider tax reform for corporations, but his plan leaves out the vast majority of America's 28 million small companies. Small businesses commonly file as individuals and often face steeper tax rates than larger companies, yet it is these firms that will create the jobs necessary for a full and robust economic recovery. Tax reform must be comprehensive so that all businesses, both large and small, can see relief from the burdensome tax code.
The United States is in a very slow economic recovery that is shifting far too many Americans out of the labor force or into part-time jobs, as evidenced by today's unemployment report. Yet it seems that the President continues to overlook what small businesses do for this economy. Instead, the Administration is raising unnecessary obstacles to small business growth through higher taxes, along with the regulatory burden and the health care law requirements. This approach is all wrong; small businesses need lower, simpler taxes. And small businesses should not be asked to foot Washington's bill.
Sincerely,
Sam Graves
Chairman