JCN Calls on Biden Budget to Prioritize Small Business Tax Cuts over “Fair Share” Tax Hikes

Washington DC – This week, President Biden plans to announce his budget, which will include proposed tax hikes on those earning more than $400,000 per year. Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement: 

“Rather than focus on new taxes on successful Americans, the Biden administration should support making small business tax cuts permanent. The Tax Cuts and Jobs Act spurred historic shared economic prosperity in 2018 and 2019 as entrepreneurs kept more of their money to expand, hire, and raise wages. Making these small business tax cuts permanent can boost the stagnant economy and generate the economic growth needed to meaningfully reduce the deficit. The top 1% of earners already pay nearly 50% of all federal income taxes — more than their ‘fair share.’ Instead of trying to punish these job creators, the Biden budget should focus on creating the economic vibrancy needed for more ordinary Americans to join their ranks.”