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
Anonymous shell companies tilt the playing field against small and local businesses.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
With the release of the Panama Papers and independent investigations into the prevalence of anonymous shell companies in Oregon, the evidence has proven too overwhelming for Sen. Ron Wyden to ignore. The senator acknowledges how close to home the issue hits, stating "(W)e have a problem with shell companies right here in our own backyard."Read more
Washington, D.C. – Senate Republicans today narrowly repealed a regulation that made it possible for cities to administer retirement plans commonly known as Secure Choice, and are likely to repeal the accompanying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.Read more