Published on : Wednesday, June 11, 2014
International Franchise Association President & CEO Steve Caldeira, CFE, released the following statement today to address a U.S. Senate proposal to implement new spending programs paid for by tax increases on small business owners:
“For the 80 percent of franchise small business owners filing their business income on their individual tax returns, proposals to implement the “Buffett rule” would do nothing but limit hiring and growth, and prevent small business owners from reinvesting in their businesses through increased hiring and purchasing. Instead of hindering small businesses with increased taxes in a sluggish economy, responsible public policy should empower those small businesses that create two-thirds of net new jobs in America and have the potential to power our recovery.
“To do that, these entrepreneurs need comprehensive tax reform that addresses both corporate and individual rates. In addition to hurting small business growth and hiring, the Buffett rule is also shortsighted and misguided policy that fails to grasp the urgency of the need to reform our nation’s outdated and inefficient tax code.”
Source:- International Franchise Association
Tags: IFA, international franchise association
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