Tax Reform

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  • Small Business Optimism Hits 45-Year High
    Posted in Press Releases on September 11, 2018 | Preview rr
    Tags: Tax Reform

    WASHINGTON – Today, the National Federation of Independent Business (NFIB) released its Small Business Optimism Index from August, which marks a new record high in the survey’s 45-year history. “With small business optimism at the highest its been in 45 years, it’s clear that Americans are prospering, and small businesses are thriving. These historic gains are proof that the new tax law and a reduction in regulations are significantly driving our economic gains. I look forward to seeing continue... Read more

  • Chairman Chabot: Our Economy is Full Speed Ahead
    Posted in Press Releases on September 7, 2018 | Preview rr
    Tags: Tax Reform

    WASHINGTON – Today, House Small Business Committee Chairman Steve Chabot (R-OH) released the following statement after the United States Department of Labor reported that 201,000 jobs were created in August, with wages up 2.9 percent for the year, the largest increase since June 2009. “Our economy is going full speed ahead, as evidenced by today’s jobs report released by the Department of Labor. With the unemployment rate remaining near historic lows of 3.9 percent and 201,000 jobs added in Augu... Read more

  • Tax Cuts and Jobs Act Benefits Ohio Small Businesses
    Posted in In Case You Missed It on September 6, 2018 | Preview rr
    Tags: Tax Reform

    WASHINGTON – This week, the Small Business Administration (SBA) Great Lakes Regional Administrator Rob Scott wrote an op-ed for the Pike County News Watchman sharing how the Tax Cuts and Jobs Act has directly benefited the almost one million small businesses in Ohio. “Thanks to the recent federal tax cut, local business owners are making investments in their businesses and employees by raising wages, increasing benefits and purchasing equipment to grow their businesses and create new jobs. The o... Read more

  • Chairman Chabot Praises Economic Growth and its Positive Effect on Small Businesses
    Posted in Press Releases on September 6, 2018 | Preview rr
    Tags: Tax Reform

    WASHINGTON – Today, House Small Business Committee Chairman Steve Chabot (R-OH) released the following statement after the U.S. Department of Labor released figures indicating the lowest filings for unemployment benefits in five decades. “With productivity on the rise and unemployment claims at a 49-year low, it is evident that small businesses are experiencing the ripple effect our economy is creating,” said Chairman Chabot (R-OH). “Through the Tax Cuts and Jobs Act, not only are small business... Read more

  • Small Business Owners Strongly Optimistic About Their Companies and Economy
    Posted in Press Releases on August 30, 2018 | Preview rr
    Tags: Tax Reform , Access to Capital

    WASHINGTON – According to the Q3 Metlife & U.S. Chamber of Commerce Small Business Index released this week, small business owners are optimistic about their companies as well as the small business environment overall. “This survey is great news, but not surprising. The strong economy added to the tax reform package and greater access to capital is creating an environment where small businesses can thrive. As their companies grow, small business owners are more optimistic about the future and we... Read more

  • ICYMI: Small Business Administrator McMahon Pens Op-Ed on Monumental Impact of the Tax Cuts and Jobs Act
    Posted in In Case You Missed It on August 13, 2018 | Preview rr
    Tags: Tax Reform

    WASHINGTON - Last week, U.S. Small Business Administrator Linda McMahon wrote an op-ed in the Cincinnati Enquirer to highlight the monumental impact the Tax Cuts and Jobs Act is having on local small businesses after hosting a small business roundtable on July 27 with the House Committee on Small Business Chairman Steve Chabot (R-OH) in Cincinnati, Ohio. "When I visited Cincinnati in September of last year, small business owners who joined a roundtable I hosted were clear on one thing – taxes we... Read more

  • Chairman Steve Chabot Statement on Proposed Pass-Through Regulations
    Posted in Press Releases on August 9, 2018 | Preview rr
    Tags: Tax Reform , Oversight and Regulatory Reform

    WASHINGTON – This week, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the highly anticipated U.S. Department of Treasury and Internal Revenue Service guidance on the Tax Cuts and Jobs Act’s new 20 percent small business deduction was released: “This is great news for small businesses and the millions of Americans they employ. Main Street businesses now have the clarity needed to work towards the 20 percent deduction, which will allow busine... Read more

  • ICYMI: Small Business Owners More Optimistic Than Ever
    Posted in In Case You Missed It on August 8, 2018 | Preview rr
    Tags: Tax Reform , Workplace Issues

    WASHINGTON – This week, Wells Fargo/Gallup released a survey touting the record-high optimism U.S. small business owners’ are experiencing, the highest in 15 years. According to the report: Cash flow and positive financial situation are strong drivers of optimism. 78 percent of small business owners rate their current financial situation as very or somewhat good, compared with 73 percent in the second quarter of 2018. 69 percent of small business owners rate their cash flow in the past 12 months... Read more

  • Chairman Chabot Encourages Ways & Means To Consider Tax Legislation that Assists Innovators
    Posted in Press Releases on August 3, 2018 | Preview rr
    Tags: Tax Reform

    WASHINGTON – Today, Chairman Steve Chabot (R-OH) sent a letter to Ways and Means Committee Chairman Kevin Brady (R-TX) encouraging the Committee to consider H.R. 3717, the Small Business Owners’ Tax Simplification Act, as they craft Tax Reform 2.0. H.R. 3717 was introduced by Chairman Chabot and would update the United States tax code for entrepreneurs and innovators. “With the gig and sharing economy growing in importance, tax filing thresholds for independent contractors and worker classificat... Read more

  • Tax Law is Boosting Main Street
    Posted in Press Releases on July 25, 2018 | Preview rr
    Tags: Tax Reform

    WASHINGTON – Today, the House Committee on Small Business held a hearing to find out how the Tax Cuts and Jobs Act has affected small businesses. The Tax Cuts and Jobs Act was signed into law on December 22, 2017. “After more than thirty years of thinking and talking about tax reform, this Congress produced and passed the Tax Cuts and Jobs Act,” said Chairman Steve Chabot (R-OH). “Beyond macroeconomic data trends, this tax law will be judged on its direct impact on the ground…This is what we are... Read more