What We Want

Businesses for Responsible Tax Reform advocates for tax reform that helps Main Street small businesses grow and hire. That means tax relief targeted at smaller firms, not for corporations or giant businesses masquerading as “small.” Here is how to accomplish that:

  •  We want Congress to roll back the 40% corporate tax cut in the Tax Cuts & Jobs Act to fund policies that help small businesses. There is no reason tax cuts have to favor large corporations and the wealthy. Tax plans can and should be made to help small business owners. Helpful small business tax policies include: 

    • A tax credit for a small business owner hiring their first employee. This will stimulate business growth and job creation

    • Equalizing the tax savings rate created by the Tax Cuts & Jobs Act between small and large businesses and expand it to include entrepreneurs in all fields

    • Making the first $25,000 in profit for a small business tax free

    • Giving small businesses relief on payroll taxes

    • Doubling the startup tax deduction for small business

  •  We want Congress to take seriously the idea of simplifying tax matters for small business owners. Right now, the tax code is far too complicated, and real small businesses are at a disadvantage to corporations who can hire high-priced accountants to comply and find every advantage.

  • We suggest a tax credit rather than a tax deduction or lower top rate that all pass-through businesses up to a certain size—determined either by overall profit or number of employees—can take. Credits ensure that richer business owners don’t get a disproportionate tax benefit.

  • We’d like to see tax equity for the self-employed.