Industry Research

President Obama Snubs Small Business on Tax Reform

Posted on July 30, 2013

After more than four years in office and plenty of speeches and studies, will President Obama's policies ever help generate the sustained creation of small business, private sector jobs needed to spur strong economic growth?
After more than four years in office and plenty of speeches and studies, will President Obama's policies ever help generate the sustained creation of small business, private sector jobs needed to spur strong economic growth?

WASHINGTON, D.C. — National Federation of Independent Business (NFIB) President and CEO Dan Danner made the following statement in response to Tuesday's corporate tax reform speech by President Obama:

“Once again President Obama has made a major policy speech without offering anything of substance to the real engine of the U.S. economy – small business,” Danner said. “A corporate-only approach to tax reform will ensure that small business shoulders a much greater tax burden than mega-corporations that have been gaming the system for years.

“Over 75% of all small businesses in the United States are taxed at the individual rate. By focusing on corporate-only reform, the President will disadvantage the innovators, the job creators, and the leading pillars of local communities. Any discussion of tax reform must include both corporate and individual rates so that there is a level playing field for businesses of all sizes.”

NFIB Jobs Outlook Cites Few Jobs, Poor Prospects

Source: NFIB

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