Wednesday, April 17, 2024 | 2 a.m.
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I urge policymakers to take a serious look at our tax code, which favors the wealthy and large corporations, a sentiment felt by 72% of the small-business respondents in a recent Small Business for America’s Future survey.
I recently was in Washington, D.C. and spoke with legislators about the importance of having a tax code that supports Main Street entrepreneurs, who are the backbone of our economy.
It’s small-business owners who are creating jobs and investing in their communities, but our tax code does not reflect their impact or invest in their success. This is clearly shown by the Tax Cuts and Jobs Act, which has failed to create an environment that promotes growth on Main Street. The vast majority of small-business owners in that same survey say the Trump-era tax law has not helped them hire new employees, invest in new equipment or increase employee salaries — and that it clearly favors large corporations.
It’s bad policy. With many of the law’s provisions set to expire next year, legislators have an opportunity to get the tax code right. I urge leaders in Washington to create a tax code that supports growth and sustainability for small businesses.
The writer is founder of Sumnu Marketing.
