The Need For Small Business Tax Relief
Madam Speaker, small businesses are the local engines that drive our national economy, so we must always keep their needs as a centerpiece in our budget priorities in Congress. As we analyze our future budget outlook in the weeks ahead, we…
Madam Speaker, small businesses are the local engines that drive our national economy, so we must always keep their needs as a centerpiece in our budget priorities in Congress. As we analyze our future budget outlook in the weeks ahead, we need to work together to protect our small businesses.
Yesterday, I met with a group of small business owners from the Warwick Valley Chamber of Commerce back in my district. Hearing them talk about the myriad challenges facing them and their businesses served as a reminder of how critical it is for us to continue providing them the tax relief that they need to continue to create new jobs across our country. We need to extend and make permanent small business tax relief provisions that are critical to our continued economic growth.
We need to continue the increased expensing rules for small businesses, and we should increase the deduction this year to an amount of greater than $100,000. This Congress has many concerns where it needs to focus on budgetary concerns, but let us not forget the needs of America's small businesses.
The more we do to help small businesses, the more jobs they create for local residents in New York and across the country. Small businesses in America create almost seven out of 10 new jobs. We need to keep those small businesses and the people working.