Congressman Biggs Introduces the Small Business Prosperity Act

Statement

This week, Congressman Biggs introduced the Small Business Prosperity Act, which builds on his longstanding efforts to extend the enormous economic momentum spurred by the historic Tax Cuts and Jobs Act to hardworking business owners across the country. This bill:

Lowers the maximum tax rate on small business revenue to 21 percent--the same low rate that major multinational corporations have been benefiting from since 2018.
Allows business owners full flexibility to change the structure of their companies (for example, from an S-corp to an LLC, or vice versa) without incurring a tax penalty.
Eliminates the estate tax, which should more accurately be labeled the "death tax," since it frequently forces the families of deceased small business owners to forfeit the fruits of generations worth of hard work.
Congressman Biggs issued the following statement:

"There are over 30 million small businesses in the United States. These enterprises are the backbone of the American economy, and they dominate the landscape of the East Valley. The more money our Main Street business owners are able to keep in their own pockets, the better able they will be to expand their operations and hire more workers--it's as simple as that. The Small Business Prosperity Act will ensure that the benefits of President Trump's tax cuts are spread as widely as possible to all my hardworking constituents."

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