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July 13, 2022
ABC sent an action alert on to members July 11 urging them to oppose to Democrats’ proposal to impose a new tax hike on small businesses in their partisan reconciliation bill.
ABC urges all ABC members to contact their U.S. senators and representatives to oppose this proposal to raise taxes on income for small business owners who make more than $400,000 annually by imposing a 3.8% net investment income tax hike.
“As countless, if not all, businesses are facing rising costs, supply chain delays and high gas prices, adding a reported nearly 4% tax increase that would take $200 billion out of the pockets of small contractors and other critical American businesses would make it even more difficult for the backbone of America’s economy to maintain operations,” said ABC Vice President of Legislative & Political Affairs Kristen Swearingen in a statement on July 13.
ABC, through a coalition of 190 organizations, also sent a letter to congressional leaders on July 11, opposing passage of the eleventh-hour, partisan tax and spend bill.
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