WASHINGTON, DC – In response to Ways and Means Committee Chairman Kevin Brady introducing the GOP’s “2.0” tax proposal, Main Street Alliance, a national network of small business owners, released the following statements:
“It is irresponsible for House Republican leaders to push another $2.9 trillion tax cut for the super-rich, jeopardizing Main Street businesses and communities. Provisions meant to win over small business, like a modest deduction for start-up expenses, don’t make up for the rising costs small business owners will have to contend with resulting from the Republican budget cuts.Read more
Recently, Senator Ron Wyden published this OpEd in USA Today: Trump's capital gains tax idea is handout to the rich, broken promise to workers
Sen. Wyden demonstrates how little Trump’s proposed capital gains tax will benefit the majority of people living in our country. Instead of growing the Main Street economy, Trump’s plan will only further line the pockets of CEOs and the wealthiest one percent and siphon from essential programs like affordable healthcare, Medicaid, food assistance, and Social Security.Read more
Trump-Republican Tax Giveaway Impact on Main Street Small Business Owners
Summary of Trump-Republican Tax Giveaway
Republicans jammed through the Trump-Republican Tax Giveaway to give a massive tax cut to wealthy donors and big corporations at the expense of Main Street. It balloons the federal deficit by $1.5 trillion, gives billions of dollars in tax breaks to corporations to outsource jobs, leaves 13 million Americans without health coverage, and Republicans want to pay for it with trillions of dollars in cuts to Social Security, Medicare, Medicaid, education and other critical programs small business owners and our communities rely on.
With tensions ramping up on North Korea — there’s been a lot of concern recently about how secret shell companies can be abused to undermine economic sanctions and hinder own national security.Read more
We, the undersigned business owners, urge you to oppose any tax package which cuts funding for vital services, like healthcare and education, which keep our communities healthy and thriving. When the communities we rely on are strong, our businesses succeed. Smart public investment in education, healthcare, infrastructure, and social programs stabilizes our communities, keeps families together, and ensures we have a well-educated workforce with enough disposable income to spend money at our businesses.
We are concerned about the President’s and Congress’s plans to cut Medicare, Medicaid and other economy-boosting programs in order to give massive tax cuts to millionaires, billionaires and wealthy corporations. To be clear, cutting trillions from vital services like Medicare, Medicaid, education, infrastructure, housing, and food assistance to give corporate tax cuts is not what small businesses like ours need to create jobs and help stimulate our local economies.
Small business owners need more customers to drive job creation, not tax cuts. Our neighbors are our customers, and we need them to be financially stable, healthy, and safe in order to keep spending their hard earned pay in our businesses.
Instead of more tax breaks for multinational corporations that offshore our jobs, we call on you to invest in American jobs and our communities. When the wealthy and big corporations pay their fair share in taxes, our country has the revenue we need to invest in rebuilding our roads and bridges, making college affordable, providing access to quality and affordable healthcare, researching new medical cures, and ensuring a secure retirement for seniors — measures that will help working families and make our economy stronger for generations to come.
Support small businesses, our families and entire communities. We urge you to oppose any tax package which cuts funding for Medicare, Medicaid and other economy-boosting programs and dismantles protections for basic living standards for our neighbors and communities.
Washington Small Business Owners Call for Increased Public Investment Through Progressive Tax Structure
This week, Main Street Alliance small business owners spoke out in support of the proposed Seattle income tax.Read more
While Minnesota enjoys a budget surplus, Main Street businesses weigh in on how to put the added revenue to use, favoring local infrastructure investments over tax cuts.
During Small Business Week and throughout the year, small business owners can speak for themselves on the issues facing Minnesota. When big business groups and corporate lobbyists push a tax-cutting and service-gutting agenda, they're not speaking for the small businesses on Main Street.
Here in Minnesota, we know the results of that agenda all too well. We've had to dig ourselves out from years of budget deficits that began with a tax rebate similar to what's being proposed i the legislature now.
Just as small businesses have to invest their surpluses wisely, so should the state invest its surplus in things that will benefit as many people as possible instead of just a fortunate few.
Our businesses thrive when our communities thrive, and we could do much more to benefit the hard-working people of Minnesota if we appropriately allocated the budget surplus by bolstering our public education and infrastructure, and increasing support to those struggling to make ends meet.
We’ve worked hard to grow our businesses and create jobs for our community members. As a result, less than ten years after one of the worst economic downturns on record Minnesota enjoys a budget surplus. And CNBC rates Minnesota as the best place for business in the country. The small businesses that line our city’s streets and employ over half of the state’s workers built this budget surplus and deserve a say in how the revenue is put to use.
We have already learned how tax cuts for big business, and the wealthy few will halt our progress and undo the economic strides Minnesotans have made these last few years. In honor of Small Business Week and the contributions that local, independent businesses make to our communities year round, we urge lawmakers to listen to the voices of Main Street.
"The small benefit I would get from a cut to my statewide property tax is not enough to impact my business model. By combining my resources with others in the form of business property taxes, our state can ensure a more stable and resilient work force. As a business owner and a citizen, it's important to me that the state uses our collective dollars to invest in an infrastructure that supports workers at my restaurant and in my community." Holly Hatch- Surisook, Owner, Sen Yai Sen Lek, Minneapolis, MN.
“As a small business owner, a mother, and a concerned citizen, I believe any budget surplus should be reinvested in our infrastructure, transportation, clean energy and education. Having a highly educated workforce should be a top priority in our state. Minnesota can be made an even greater state to live in by educating our population without saddling our young adults with crippling student loan debt as they exit college.
Additionally, tax cuts should be created to assist small businesses rather than expecting any benefit from the elusive "trickle-down" effect from corporate tax breaks. Helping small businesses will stimulate local economy and make our communities more vibrant." Terri Emmerich, owner, Spice of Life Tea Shoppe, St Cloud, MN
“These proposed corporate and other tax cuts will not benefit me or my business at all. As a matter of fact these tax cuts will likely result in my personal property taxes going up because of the shortfalls in infrastructure and education investment revenues. We’ve already seen what tax cuts like these cause…budget deficit after budget deficit, and rising property taxes. We did that for ten years. Why would we go back to doing that?” Todd Mikkelson, owner, Sprayrack by the RM Group, Orono, MN
Small-business owners slam AmEx over Excessive Fees, Tax Dodging
A fact sheet on American Express’s abusive behavior toward small businesses and on the company’s tax dodging is available here
The Main Street Alliance, a national network of small-business owners, is denouncing the hypocrisy of American Express for championing small-business shopping on the Saturday after Thanksgiving, while the credit card giant’s financial and tax practices hurt Main Street businesses every day.
Now in its fourth year, “Small Business Saturday” is the marketing invention of American Express, encouraging consumers to “Shop Small” the Saturday after Thanksgiving by using their American Express cards at participating businesses. American Express launched the marketing initiative just a month after the U.S. Justice Department filed an antitrust lawsuit against the company in 2010.
Small-business owners criticize the company for imposing the credit card industry’s highest “swipe fees” at 3.5 percent, and for its record of tax dodging that includes stashing $8.5 billion in profits offshore, which are not currently subject to U.S. taxes.
The Main Street Alliance encourages consumers to support small businesses this holiday season by shopping locally and paying for their purchases with cash.
But, American Express? Leave home without it.
As part of National Small Business Week (June 17-21), small business owners from across the Main Street Alliance network are speaking out on the top issues facing the nation.
Each day during Small Business Week, we're releasing a new "Straight Talk on Main Street" issue fact sheet providing unique small business perspective and analysis, on the following schedule:
- Monday - IMMIGRATION REFORM: Immigration reform with a roadmap to citizenship strengthens consumer demand, boosts economy
- Tuesday - TAX FAIRNESS: Ending offshore tax dodging will level playing field for small business
- Wednesday - HEALTH CARE: Small business owners preparing for full implementation of health care reform
- Thursday - ECONOMY-BOOSTING JOBS: Small business engagement critical to growing momentum on Paid Sick Days
- Friday - MONEY IN POLITICS: Small businesses seek greater disclosure of secret political spending by corporations and trade associations
On April 9, the Main Street Alliance and the American Sustainable Business Council released the results of new scientific polling of small business owners on corporate tax reform. The scientific live phone survey of 515 small business owners nationwide found small business owners strongly oppose a "territorial" tax system (which would permanently exempt offshore profits from U.S. taxation) and support proposals to close overseas tax loopholes and end deferral of U.S. taxes on profits corporations make or shift offshore.