On Thursday, September 13, 2012, at 10:00 A.M. the Subcommittee on Economic Gowth, Tax and Capital Access held a hearing titled, Adding to Uncertainty: Small Businesses’ Perspectives on the Tax Cliff. The hearing was held in Room 2360 of the Rayburn House Office Building.

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:

Theresa Kern, MA Steel Erectors, Inc., Palos Heights, IL

• Testifying on behalf of Women Construction Owners and Executives, USA
• Testimony 
• Witness Disclosure

Doug Harmon, CEO, Twin City Die Castings Co., Minneapolis, MN

• Testifying on behalf of North American Die Casting Association
• Testimony 
• Witness Disclosure

Scott Hodge, President, The Tax Foundation, Washington, DC

• Testimony 
• Witness Disclosure

Jeffrey A. Porter, CPA, MST, Porter & Associates, CPAs, Huntington, WV

• Testifying on behalf of the American Institute of Certified Public Accountants
• Testimony 
• Witness Disclosure

Additional Items:

Official Hearing Notice

Official Witness List

Official Hearing Memo

Hearing Press Release

Hearing Video