Taxes

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  • Chairman Chabot and SBA Administrator McMahon Hold Roundtable in Cincinnati
    Posted in Press Releases on September 21, 2017 | Preview rr
    Tags: Taxes, Health, Access to Capital, Energy, Oversight and Regulatory Reform, Rural America, Contracting, International Trade, Workplace Issues, Technology, Disaster Assistance, Environment

    CINCINNATI – Today, Small Business Administration (SBA) Administrator Linda McMahon, and House Committee on Small Business Chairman Steve Chabot (R-OH), visited Cincinnati manufacturer Faxon Machining for a tour of the facility and for a roundtable discussion with several local small businesses. “I take every opportunity I can to hear straight from small businesses about what is working or what barriers they are still facing in the current economy. Not surprisingly, a majority of the businesses ... Read more

  • Chairman Chabot Introduces Legislation to Update the Tax Code for Nation’s Innovators
    Posted in Press Releases on September 8, 2017 | Preview rr
    Tags: Taxes

    WASHINGTON - Today, House Small Business Committee Chairman Steve Chabot (R-OH) introduced H.R. 3717, the Small Business Owners’ Tax Simplification Act, to create more clarity within the tax code and allow small business owners to both offer and participate in cafeteria plans. Ranking Member Nydia Velázquez (D-NY) is an original co-sponsor of this bill. “Thanks to the innovation of today’s small business owners, we can now order food or catch a ride from our phone. Unfortunately, though, our cur... Read more

  • Forbes: How Congress Can Help Reluctant Millennial Entrepreneurs And Small Businesses
    Posted in Op-Eds on September 5, 2017 | Preview rr
    Tags: Taxes, Health, Access to Capital

    Entrepreneurship is on the decline. This may come as a surprise with the popularity of shows such as “Shark Tank.” But between 2010 and 2014, only about 165,000 new businesses were started, compared with almost half a million new businesses between 1992 and 1996. Perhaps more surprisingly, millennials are starting even fewer businesses than previous generations. Why are innovators – particularly Millennials – reluctant to start their own company? The recent recession coupled with barriers such a... Read more

  • Chairman Chabot: Tax Reform is Critical for Small Businesses
    Posted in Press Releases on July 25, 2017 | Preview rr
    Tags: Taxes

    WASHINGTON –This week, House Small Business Committee Chairman Steve Chabot sent a letter to Chairman Peter Roskam, Chairman of the Ways and Means Subcommittee on Tax Policy following their hearing titled, “How Tax Reform Will Help America’s Small Businesses Grow and Create New Jobs.” “I believe that it is imperative for small businesses to have a seat at the table and a voice in the largest tax reform effort in 31 years. As the House Ways and Means Committee continues to discuss tax reform, I k... Read more

  • How Can We Reverse the Entrepreneurship Decline?
    Posted in Press Releases on July 19, 2017 | Preview rr
    Tags: Taxes, Access to Capital, Oversight and Regulatory Reform

    WASHINGTON – Today, the House Small Business Committee heard from industry experts on the challenges facing entrepreneurs and how the success of our small businesses have a major effect on the strength of our economy. “New and small businesses create the majority of our nation’s jobs and spur innovation. However, since the Great Recession, there has been a significant decline in entrepreneurship, which may in part explain the slow economic growth experienced in America today,” said House Small B... Read more

  • The 411 on the 504: One of SBA’s Zero Taxpayer-Funded Loan Program
    Posted in Press Releases on June 29, 2017 | Preview rr
    Tags: Taxes, Access to Capital

    WASHINGTON – Today, members of the House Small Business Subcommittee on Economic Growth, Taxes, and Capital Access heard from key players in the 504/CDC Loan Program. “Although we are working feverishly to roll back red tape, small businesses face an uncertain lending environment that is compounded due to their reliance on traditional bank borrowing to raise capital. One program to bridge the funding gap that too often acts as a roadblock for small businesses is the SBA’s 504/CDC Loan Program,” ... Read more

  • Scam Spotting: Can the IRS Effectively Protect Small Business Information?
    Posted in Press Releases on April 6, 2017 | Preview rr
    Tags: Taxes

    WASHINGTON – As the federal income tax filing deadline approaches, the Treasury Department’s Inspector General for Tax Administration (TIGTA) told the House Small Business Committee today that the Internal Revenue Service (IRS) must be more vigilant in protecting taxpayers’ personal information from identity thieves. “As tax season heats up, so too does tax fraud season,” said House Small Business Committee Chairman Steve Chabot (R-OH). “In testimony before this Committee last year, IRS Commiss... Read more

  • The Future of America’s Small Family Farms
    Posted in Press Releases on March 23, 2017 | Preview rr
    Tags: Taxes, Access to Capital, Oversight and Regulatory Reform, Rural America

    Dodd-Frank, Death Tax and the Regulatory Assault on Small Family Farms WASHINGTON – Small family farmers told the House Small Business Committee’s Subcommittee on Agriculture, Energy, and Trade today that capital access restrictions, the death tax and overregulation pose significant challenges to the future of America’s family farms. “Small farms have always been a part of our nation’s fabric, and it cannot be stressed enough that the small family farm is a small family business,” said Subcommi... Read more

  • Making Washington Work for America’s Small Businesses
    Posted in Press Releases on March 22, 2017 | Preview rr
    Tags: Taxes, Health, Access to Capital, Oversight and Regulatory Reform

    Small Business Owners Sound Off on Obamacare, Regulations, Taxes WASHINGTON – Today small business owners told the House Small Business Committee that Obamacare’s mandates, as well as overregulation and the current tax code, are having a devastating effect on their businesses, employees and customers. “These issues are important because too often, small businesses get the short end of the stick which is counterproductive to the economic health of our nation,” explained House Small Business Comm... Read more

  • Cafeteria Plans: A Menu of Non-Options for Small Business Owners
    Posted in Press Releases on March 16, 2017 | Preview rr
    Tags: Taxes

    WASHINGTON – Experts told a Subcommittee of the House Small Business Committee today that millions of American small business owners and employees are barred from using a popular provision of the tax code that would enable them to save on important expenses such as insurance premiums, medical costs and dependent care. “Cafeteria plans are available across the board to large and mid-size companies, non-profits, schools, universities, and the federal government,” said Subcommittee on Economic Grow... Read more