Washington, D.C. – Today, the Job Creators Network endorsed both the Tax Cuts and Jobs Act that recently passed out of the House Ways and Means Committee, as well as the Senate’s Tax Cuts and Jobs Act that is currently being considered in the Senate Finance Committee. The full U.S. House of Representatives will vote this week on final passage of their bill, while the Senate Finance Committee is expected to pass their bill out of Committee by the end of the week.
Both bills would provide significant and long-overdue tax relief to small businesses and hardworking Americans. JCN especially supports the changes to both bills that would extend small business tax relief to professional services, including law, accounting, and graphic design firms. JCN has pushed for these changes that would provide these vital small businesses, which create tens of millions of good jobs, with tax relief as well.
Alfredo Ortiz, president and CEO of the Job Creators Network, released the following statement:
The current House and Senate tax reform bills would finally address the over-taxation that prevents American small business job creators from surviving and thriving. Though they take different approaches, with the House bill creating a separate small business rate structure and the Senate bill creating a new small business tax deduction, they would have the same effect: allow the nation’s 29 million small businesses to keep more of their earnings to create jobs, raise wages, and expand. As JCN has called for, the final bills also extend tax relief to professional services firms, which are a vital part of the American small business landscape.