Cruz Proposes Flat Tax To Aid Small Businesses

Date: December 03, 2015

Cruz Third Candidate To Speak As Part Of NFIB Co-Sponsored Teleforum Series

Women’s Wear Daily reported that GOP presidential candidate Sen. Ted Cruz (R-TX) “participated in a teleforum and addressed questions posed by members” of a coalition of business groups on Wednesday, addressing questions about the economy and regulations. In addition to addressing questions from NFIB members, Cruz responded to questions from members of the National Retail Federation, National Association of Manufacturers, Associated Builders and Contractors, Associated General Contractors, and Business-Industry Political Action Committee. According to Cruz, “Two of the most important things for economic growth and two of the most important things for small businesses are tax reform and regulatory reform.” Cruz has proposed implementing a flat tax of 16 percent on businesses instead of the current 35 percent corporate income tax, and has also called for eliminating payroll taxes, saying the “impact” of this tax plan on “small business owners is dramatic.” The Dallas Morning News adds that Cruz, “the third presidential candidate to participate in the coalition’s tele-forum series,” covered other issues, including health care, trade and tort reform, but focused on small businesses. He discussed his time working for his family’s small business, commenting, “I’ve seen the ups and downs of a small business. My parents went bankrupt when oil collapsed.” Regarding his philosophy for growing the economy, Cruz said, “If we have an environment where small business are growing and expanding, and the economy is moving that lifts all ships. Tax reform and regulatory reform are the two most important levers that Washington has to help small businesses grow and prosper.”

What This Means For Small Businesses

Small business owners have largely been ignored during the 2016 presidential campaign. Presidential debates in particular have seemed to focus more on partisan attacks than on substantive discussion of issues important to the small business community. Efforts by a coalition of business groups, including the NFIB, to bring small businesses’ questions to presidential candidates is a welcome addition to the campaign, and will hopefully prompt further discussion of the issues important to a key group of US job creators.

Additional Reading

Construction Dive also covered Cruz’s teleforum discussion. NFIB previously announced the teleconference, noting the other GOP and Democratic presidential candidates who have also been invited to speak with small business owners.

Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.

Related Content: Small Business News | Elections

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