Partner Op-Ed: Protect Small Businesses from Massive Tax Increases
Margaret Luculano | Christian Employers Alliance
Small businesses nationwide are fighting an uphill battle, with rising costs and inflation, workforce challenges, and increasing uncertainty about the future all posing major hurdles that can be extremely difficult to clear.
The last thing small businesses and small business owners need right now is to be hit with a massive tax increase that could jeopardize their ability to keep their doors open. Sadly, that’s precisely what is set to happen at the end of this year and next, when a range of tax cuts and credits are scheduled to expire. Lawmakers should work together to avoid what could be a disaster for small and mid-sized businesses nationwide.
Passed during the first Trump administration, the Tax Cuts and Jobs Act (TCJA) of 2017 implemented several sweeping changes to the U.S. tax code that helped strengthen U.S. businesses, from large companies to small businesses and start-ups.
