Late Friday evening, the U.S. Senate passed their tax reform bill – getting Congress another step closer to delivering pro-growth tax reform before the end of the year that is sure to boost the economy, create jobs, and benefit small businesses and families.
While Congress is one step closer to delivering a big holiday gift to Americans, they’re not at the finish line yet. They still have a lot of work ahead of them as they convene what is called a conference committee, select Congressional members who will hash out differences, and finalize a tax reform bill to send to the U.S. House and Senate for one last vote.
The clock is ticking…
That is what a group of small business owners told Congress last week on Capitol Hill. The day before the big vote, small business owners from across the country joined Small Business Administration Administrator Linda McMahon, the Small Business and Entrepreneurship Council, and several senators, at a press conference on Capitol Hill to urge Senators to pass the tax bill in order to allow small business to grow, create jobs, and boost local economies.
Alan Keck of Somerset Recycling in Somerset, KY, said during the press conference, “The tax simplification in this reform is what excites me because every hour I don’t have to waste dealing with that is an hour at home with my daughters, is an hour at church serving in my youth group, perhaps for many of you it’s an hour on a La-Z-Boy reading a book that you care about. But we spend billions of dollars…dealing with this compliance issue and it’s wasteful, it’s silly.”
As Alan states, for many small business owners, tax reform is about more than just cuts—it’s about the sheer amount of time spent complying with the currently over-complicated code, and it’s about investing back into their community.
We’re encouraged that the Senate passed their bill, and now we’re telling Congress to keep their eye on the finish line to send the bill to the president’s desk before the end of the year. — They must pass tax reform now!
Don’t forget – the proposed tax cuts will save the average family $2,600 per year and help American businesses compete against foreign competitors, create jobs, and boost wages again. That’s real money to pay for rent, electric bills, groceries, and holiday gifts for the family!