House Ways & Means Committee Chairman Smith: Trump Tax Cuts Expiration Would Force Small Businesses to Pay Higher Tax Rate Than Communist China
November 22, 2024
November 22, 2024
WASHINGTON, Nov. 22 -- Rep. Jason Smith, R-Missouri, chairman of the House Ways and Means Committee, issued the following news release:
American small businesses could be staring down a tax rate that will increase to 43.4 percent at the end of 2025 should Congress fail to act. The 2017 Trump tax cuts provided a 20 percent small business deduction that set Main Street on a level playing field with larger corporations. As a result, small business investment in their communities and th . . .
American small businesses could be staring down a tax rate that will increase to 43.4 percent at the end of 2025 should Congress fail to act. The 2017 Trump tax cuts provided a 20 percent small business deduction that set Main Street on a level playing field with larger corporations. As a result, small business investment in their communities and th . . .