Subcommittee on Economic Growth, Tax and Capital Access
September 13, 2012
Adding to Uncertainty: Small Businesses’ Perspectives on the Tax Cliff
As many small businesses are organized as “pass-through” entities, where business owners pay their taxes at individual rates, the hearing examined how the potential expiration of the 2001 and 2003 tax relief is influencing small businesses’ decision making. The hearing also examined small businesses’ perspectives on the Obama Administration’s tax proposal to allow the top two marginal tax rates to increase for taxpayers with income in excess of $200,000 a year ($250,000 if filing jointly).
Opening Statement:Chairman Joe Walsh (R-IL)
Witnesses and Testimony: