Tax Reform

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  • 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

  • SBC Kicks Off Amazon "Prime Day"
    Posted in Press Releases on July 17, 2018 | Preview rr
    Tags: Tax Reform , Access to Capital, Oversight and Regulatory Reform, International Trade

    WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) and Members of the Committee welcomed Amazon and several small businesses that sell on that platform to a roundtable discussion with Committee Members. “I thank Amazon and the businesses for their insight into how e-commerce has given these small businesses a platform to not only sell their goods, but sell their products around the world. It wasn’t surprising to me that small businesses make up more than half of A... Read more

  • Rep. Kelly Examines Small Businesses in Rural America
    Posted in Press Releases on June 18, 2018 | Preview rr
    Tags: Tax Reform , Access to Capital, Rural America

    MISSISSIPPI – This afternoon, the House Small Business Committee held a field hearing in Southaven, Mississippi to examine issues facing rural small businesses including access to capital, lack of reliable broadband, and finding qualified employees. Subcommittee Chairman on Investigations, Oversight, and Regulations Trent Kelly (R-MS) said, “Although the economy is getting stronger, rural America is still recovering from the 2008 recession. Today we asked these small business owners to share wit... Read more

  • SBC Examines the Small Business Travel and Tourism Industries
    Posted in Press Releases on May 8, 2018 | Preview rr
    Tags: Tax Reform , Access to Capital, Oversight and Regulatory Reform

    WASHINGTON—Today, Members of the House Small Business Committee Subcommittee on Economic Growth, Tax, and Capital Access heard from a panel of small business owners and industry experts on the economic impact of small businesses in the travel and tourism industries. “According to the United States Travel Association, an impressive 83 percent of businesses in the travel and tourism industries are considered small businesses,” said Subcommittee Chairman Dave Brat (R-VA). “And while small businesse... Read more

  • Out With the Old, In With the New (Tax Code)
    Posted in Press Releases on April 17, 2018 | Preview rr
    Tags: Tax Reform

    Today marks the end of an era—an era of high taxes and a complicated tax code that has burdened small business owners and hardworking Americans for decades. Today will be the last day Americans file their taxes under the old and broken tax code. That’s right, because the Republican Congress worked with President Trump and his Administration, Congress overhauled the 31-year-old tax code and unleashed an economic revival across our nation. American small businesses employ about half the private se... Read more

  • Connecting Small Businesses with their Communities
    Posted in Press Releases on April 12, 2018 | Preview rr
    Tags: Tax Reform , Health, Access to Capital, Energy, Oversight and Regulatory Reform, Rural America, Contracting, International Trade, Workplace Issues, Technology, Disaster Assistance, Environment

    WASHINGTON – Today, Members of the Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations heard from a panel of experts on entrepreneurial development and the interdependent relationship between a community and small businesses. “With 29.6 million small businesses employing 47.8 percent of the workforce, small business success is essential to the economic well-being of both individual communities throughout the country as well as our nation overall. While there ar... Read more