Taxes

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  • Chairman Graves Statement on Small Business Surveys
    Posted in Press Releases on October 4, 2012 | Preview rr
    Tags: Taxes, Regulatory Reform / Regulations

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement in response to the third quarter survey of small businesses by the U.S. Chamber of Commerce. The Chamber poll found that 89% say tax increases will hurt their small businesses, 83% will not hire over the next year and 23% expect to have fewer employees. Another survey of small business owners commissioned by the nonpartisan organization Common Good, was released earlier this week revealing that 69% of ... Read more

  • Graves & Ranking Member Snowe Challenge Sec. Geithner on Definition of Small Business
    Posted in Press Releases on September 6, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) and Senate Small Business and Entrepreneurship Committee Ranking Member Olympia J. Snowe (R-ME) today sent a letter to Treasury Secretary Timothy Geithner about the Department’s attempt to change the definition of a small business. In the letter, Graves and Snowe expressed concern about the legal authority, justification and purported use of new definitions outlined in a Department of Treasury’s Office of Tax Analysis report from last Aug... Read more

  • Chairman Graves Statement on the CBO Outlook and Fiscal Cliff
    Posted in Press Releases on August 22, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement on the Congressional Budget Office report that says a recession is likely next year if Congress fails to act on the fiscal cliff: “I don’t know what could be more convincing to the President and his liberal supporters than this CBO report that shows how tax increases are bad for the economy. On August 1st, the House acted to stave off a tax hike by passing an extension of current tax rates, with 19 Dem... Read more

  • Committee Hearing Highlights Small Business Strategies in a Recession
    Posted in Press Releases on July 25, 2012 | Preview rr
    Tags: Taxes, Regulatory Reform / Regulations, Rural America

    WASHINGTON, D.C. — The Committee on Small Business, led by Chairman Sam Graves (R-MO), today showcased success strategies that helped small firms survive the challenging economy. The hearing was titled, Tales of Resilience: Small Business Survival in the Recession. Despite the tough economy, some small businesses had successful growth strategies. The Committee examined their business models and methods of adaptability during the worst of the recession. Small firms were hit particularly hard dur... Read more

  • Small Business Tax Increases on January 1, 2013
    Posted in In Case You Missed It on July 19, 2012 | Preview rr
    Tags: Taxes

    How Will Taxmageddon Impact Your Small Business? Without Congressional action, a large number of tax provisions will expire on December 31, 2012. Many of these expiring provisions were enacted in tax legislation in 2001 and 2003 and reduced marginal income tax rates, marriage penalty rates, and the estate tax. President Obama's plan to expire tax rates for all income over $200,000 for individuals and $250,000 for married couples would raise taxes on thousands of small businesses whose companies... Read more

  • New Study Proves Fiscal Cliff Will Harm Small Business Job Creation
    Posted in Press Releases on July 17, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement on a new Ernst and Young study that shows the president’s small business tax hike will cost our economy jobs: “The evidence continues to mount against the President’s tax plan. This week’s U.S. Chamber of Commerce small business survey shows that 90 percent of small business owners believe the impending fiscal cliff is contributing to economic uncertainty, and almost 60 percent believe that the expirat... Read more

  • Fox News Highlights Small Business Hearing on Death Tax
    Posted in Press Releases on June 7, 2012 | Preview rr
    Tags: Taxes

    Report Points Out Yet Another Tax Burden That Awaits Small Businesses At The Year's End Last night, Fox News' "On The Record With Greta" show highlighted last week's Small Business Subcommittee hearing to examine the impact of the estate tax on small businesses and the economy. The current estate tax law rate is 35%, with an exemption of $5 million. If Congress does not act on this policy, the estate tax will revert to pre-2001 levels of a 55% rate and a $1 million exemption on January 1, 2013. ... Read more

  • Chairman Graves Statement on May Jobs Report
    Posted in Press Releases on June 1, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement after the U.S. Department of Labor reported that only 69,000 jobs were created in May, and the unemployment rate rose to 8.2 percent: “This disappointing unemployment report should serve as a strong message to the President that his policies are simply not working. The private sector is under a tremendous amount of pressure due to uncertainty because federal regulations are at an all-time high, a barra... Read more

  • Subcommittee Examines Negative Effect of Death Tax on Family Companies
    Posted in Press Releases on May 31, 2012 | Preview rr
    Tags: Taxes

    House Small Business Subcommittee on Economic Growth, Tax and Access to Capital Chairman Joe Walsh (R-IL) today held a hearing to examine the impact of the estate tax on small businesses and the economy. The estate tax, also known as the death tax, is frequently cited as one of the most important issues for small businesses. Without Congressional action, the current federal estate tax rates will expire on December 31, 2012, and revert to the higher pre-2001 levels. “During our sluggish economic ... Read more

  • Chairman Graves in the Omaha World-Herald: Ease Tax Burden on Small Businesses
    Posted in Op-Eds on May 21, 2012 | Preview rr
    Tags: Taxes

    Ease Tax Burden on Small Businesses By Chairman Sam Graves In 1789, Benjamin Franklin famously wrote, “In the world, nothing can be said to be certain except death and taxes.” As many small-business owners recover from the frustration of completing their tax returns last month, some may now have to prepare for a more grim possibility: the death of their business by taxes. Small businesses are more sensitive to high tax rates and changes in the tax code, since they sometimes don’t have the staff... Read more