On Thursday, November 3rd, Economic Growth, Tax and Capital Access Subcommittee Chairman Joe Walsh (R-IL), will hold a hearing entitled, Pro-Growth Tax Policy: Why Small Businesses Need Individual Tax Reform. The hearing will take place at 10:00 am in Room 2360 of the Rayburn House Office Building.

The purpose of this hearing is to examine the importance of “pass-through” entities and the need for Congress to consider individual tax reform in tandem with corporate reform. 

“About 95 percent of U.S. businesses, and over 80 percent of small firms, are organized as pass-through entities, which pay taxes on their share of the profits on their individual income tax returns,” said Rep. Walsh. “These firms account for 54 percent of all U.S. business net income, and employ 54 percent of the private sector workforce.  Pro-growth policies, including tax reform, will allow them to create jobs and grow. Our local small businesses, not the government, are the ones that are going to create jobs and pull us out of this recession.”

The hearing will include testimony from Robert J. Carroll, Principal of the Qualitative Economics and Statistics Group at Ernst and Young LLP in Washington, DC; William R. Smith, Chief Executive Officer at Termax Corporation in Lake Zurich, IL, testifying on behalf of the Precision Metalforming Association; Stephen Capp, President and CEO of Laserage Technology Corporation in Waukegan, IL, testifying on behalf of the National Federation of Independent Business; and Gary Marowske, President of Flame Furnace in Warren, Michigan, testifying on behalf of the Air Conditioning Contractors of America.

Materials for the hearing are posted on the House Small Business Committee’s website HERE.

WHAT:           House Small Business Subcommittee on Economic Growth, Tax and Capital Access hearing entitled, Pro-Growth Tax Policy: Why Small Businesses Need Individual Tax Reform

WHEN:          Thursday, November 3, 2011
                     10:00 a.m. ET

WHERE:        2360 Rayburn House Office Building