CHANNEL 1 LOS ANGELES
- Taxes are the No. 1 concern for small business owners.
- The majority of small business owners support reducing business tax rates and deductions, two ideas central to President Trump’s tax relief framework.
- The President’s framework cuts rates not only for corporations, but also for pass-through entities that account for 95 percent of businesses and 83 percent of small businesses in America.
- Lowering the rate for pass-through businesses ensures small businesses get to keep more of their hard-earned money.
- The tax code is so complex that for many small businesses the cost of complying with the tax code is greater than their tax bill.
- The president’s framework simplifies the tax code to reduce the compliance burden that falls disproportionately on small businesses.
- Small Business Owner Rob Berger Said, A “Significant” Part Of Trump’s Tax Proposal Is Cutting The Corporate Tax Rate For Pass-Through Entities, “These Are The ‘Mom And Pop’ Businesses That Power Much Of The Employment In Our Country.” “Trump has proposed cutting the corporate tax rate from 35% to 15%. Significantly, this proposal would apply not only to large corporations. It would also apply to small pass-through entities like limited liability companies and subchapter S corporations. These are the ‘mom and pop’ businesses that power much of the employment in our country.” (Rob Berger, Op-Ed, “A Small Business Owner’s Take On The Trump Tax Plan,”