While President Biden has promised not to increase taxes on Americans making under $400,000 a year, a $3.5 trillion budget proposal in Congress is expected to do just that for American small business owners and farmers. To help Congress understand what’s at stake for small businesses, their employees, customers, and communities, NFIB members and leaders in states across the nation are speaking out against the proposed tax increases Congress is considering. Here’s what they’re saying:
In North Carolina, NFIB member Gordon Hunt was the latest to join fellow NFIB members in the In Their Own Words video series featuring small business owners from around the country. Hunt emphasized how tax increases would be harmful to his business and employees.
On behalf of NFIB members in Arizona, an editorial from NFIB’s Chad Heinrich was published in the Phoenix Business Journal describing the harmful impact of proposals being considered in Congress. Heinrich urged U.S. Sen. Kyrsten Sinema to vote against them: “These small employers are not big in any way, shape, or form, but they’re staring down the barrel of a 33% tax hike…That’s a lot of money from a lot of small businesses; money that would be far better spent building up the business, boosting employee wages, or buying new equipment.”
Stephanie Camarillo, an NFIB member in Idaho explained in an In Their Own Words video how she has been able to invest in two employees’ careers because of the Small Business Deduction (line 13 on the 2020 IRS form 1040) established a few years ago. Hear how she used the important Small Business Deduction:
In West Virginia, The Exponent Telegram published an opinion piece by NFIB’s Gil White calling on U.S. Sen. Joe Manchin to vote against President Biden’s American Families Plan. White said, “Only in Washington, D.C. could raising taxes on small businesses seem like a good idea in these difficult times. The results will be as predictable as they will be damaging. Fewer jobs. Less investment in West Virginia’s future. Weaker communities. Unrealized dreams — for entrepreneurs and the entire state. That’s a nightmare, no matter how you look at it.”
In Massachusetts, NFIB member Jeanne Bell urged Congress not to pile on to existing death taxes with another tax at death for family-owned businesses and farms. Hear what she says about the proposal’s damage to her family-owned business:
An editorial by NFIB’s Ronda Wiggers published in Montana’s Helena Independent Record called on U.S. Sen. Jon Tester on behalf of NFIB members in the state: “President Biden has proposed massive tax hikes, even though last year he promised small businesses wouldn’t see their tax rates rise. Now the Senate could take up his proposal as early as this month. Senator Tester could be the swing vote, and by voting these tax hikes down, he’ll save the job creators that are the engine of Montana’s economy.”
In an In Their Own Words video describing how his small family-owned camp in Alabama would be affected if Congress raised the corporate tax rate, NFIB member Allen McBride of Alabama urged Congress to account for small businesses like his that are organized as C-Corporations. Watch Allen’s story:
NFIB is fighting to protect small businesses from the proposed tax hikes and new mandates Congress is considering, and right now, you can help to make the voice of small business heard in three important ways:
- This month, many U.S. Senators and Representatives are hosting in-person or virtual townhall-style events in their communities. Check your representatives’ websites and social media pages to find a meeting you can attend. Click here for tips on effectively communicating with your lawmakers.
- See what other small business owners are saying in NFIB’s In Their Own Words video series and email us to tell your story too.
- Email your members of Congress concerning the tax increases and mandates that threaten to break the fragile recovery. Our simple Take Action system makes it easy to customize your message:
If you have questions about the tax increase legislation Congress is considering, click here for a brief overview of the status of Congress’ “infrastructure” legislation.