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May 9, 2017
CONSUMER FINANCIAL PROTECTION BUREAU TO HOST FIELD HEARING ABOUT SMALL BUSINESS LENDING
WASHINGTON, D.C. – Tomorrow, Wednesday, May 10, the Consumer Financial Protection Bureau (CFPB) will convene a public field hearing focused on small business lending. The field event will feature remarks by CFPB Director Richard Cordray, California Attorney General Xavier Becerra, California Department of Business Oversight Commissioner Jan Lynn Owen, and Los Angeles City Attorney Mike Feuer, followed by a panel discussion with consumer advocates and industry representatives, and concluding with testimony from members of the public. The event will be livestreamed at consumerfinance.gov.Read more
The Trump Administration released an outline today of its plan to reform the corporate tax code. In general, the plan offers huge tax cuts for corporations and high-earning individuals - its cornerstone reform is a corporate tax rate cut from 35% to 15% - with changes to deductions that are nowhere near enough to offset the cost.
Amanda Ballantyne, the National Director of Main Street Alliance, released the following statement:Read more
Washington, DC -- Today, small business owners stood with more than a thousand allies in protesting President Trump’s policies that are hurting their businesses and communities.Read more
A new Woodstock Institute report, Patterns of Disparity: Small Business Lending in the Buffalo and New Brunswick Regions, shows that small businesses in lower income and minority areas are less likely to get a loan.
Join us for a public briefing about the report. Call-in details below.
Rep. Ellison and Small Business Owners Say The Trump Budget benefits corporations and the wealthy, leaving out the needs of small businesses
TOP LINE: Ahead of tax day 2017, US Representative Keith Ellison and Minnesota State Representative Erin Murphy met with 15 Main Street Alliance Minnesota small business owners to talk about critical issues for small business owners when it comes to national and local budget plans.
A new Pew poll confirms most Americans agree with Main Street Alliance small business owners: corporations and the wealthy don’t pay enough in taxes. The survey shows that 62 percent said they are bothered “a lot” that corporations don’t pay their fair share, and 60 percent say the rich don’t pay enough.Read more
The current tax code is riddled with loopholes that enable large, multinational corporations to avoid or evade paying taxes, which shifts their tax responsibilities to small businesses and average taxpayers. Today, Rep. Mark Pocan (D-WI) introduced new tax legislation that aims to close those major offshore tax avoidance loopholes.Read more
On Wednesday April 5, the House Financial Services Committee will hold its semi-annual hearing on the Dodd-Frank Act and Consumer Financial Protection Bureau (CFPB). Congressional Republicans typically take the opportunity to ask Director Richard Cordray pointed questions about Dodd-Frank and the CFPB, usually invoking small businesses in their opposition.
Ahead of the hearing, Main Street Alliance, a national network of small business owners, and 17 other organizations sent a letter to Congress in support of the Dodd-Frank Act. The letter highlights the benefits of Dodd-Frank and the CFPB for small businesses.Read more