Trump's Tax Plan: No Country for Small Business

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:

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Small business owners make their voices heard in Washington

President Trump’s health care and tax policies burden Main Street

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.

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MEDIA ADVISORY: New Report on Access to Capital

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.

 

 

 

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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.

 

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Small businesses shouldn’t pay a higher tax rate than multinational corporations

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.

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With tax reform looming, small business owners get behind a bill that ends offshoring

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.

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Ahead of House hearing, small businesses support Dodd-Frank and CFPB

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.

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MSA business owner testifies in the House

Main Street Alliance Executive Committee member David Borris, owner of Hel's Kitchen Catering in Northbrook, Illinois, testified before the House Small Business Committee on March 22, 2017 in a hearing about "Making Washington Work for America's Small Businesses."

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GOP cripples small business owners’ ability to save for the future

Washington, D.C. – Senate Republicans today narrowly repealed a regulation that made it possible for cities to administer retirement plans commonly known as Secure Choice, and are likely to repeal the accompanying state-level rule as well. These repeals hurt small businesses and their employees for no reason other than to benefit mutual fund companies that don’t want competition from more transparent, lower-cost plans set up by local government.

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