Op-Ed: Congress Should Keep Taxes Low for Small Businesses
By Palmer Schoening | Family Business Coalition | DC Journal
“Hundreds of companies across the country responded to TCJA by increasing pay, expanding worker benefits, handing out bonuses, planning for new investments, and adding employees. In the years after the enactment of TCJA, the United States experienced higher GDP growth, faster job creation, and increased wages.
Throughout the pandemic and the subsequent years of challenges, our economy held up stronger than almost every other industrialized country, and the tax cuts were a major reason. Congress should immediately get to work on extending the Tax Cuts and Jobs Act while avoiding turning the dial back on any of the important corporate or individual side tax relief in the process.
America’s family-owned and operated businesses, which create jobs and enrich the communities they are a part of, are counting on Congress to prevent an automatic tax hike next year.”
