Washington, DC (April 18, 2022) – Today, on Tax Day, Job Creators Network President and CEO Alfredo Ortiz along with the heads of 30 organizations sent a letter to President Joe Biden urging him to make the 2017 Tax Cuts and Jobs Act (TCJA) permanent. Set to expire in 2025, the TCJA aids 15 million small businesses a year with its 20 percent qualified income deduction. To read the full letter and see the business leaders who endorse it, click here.
In the letter, Mr. Ortiz writes:
“The TCJA ushered in unprecedented shared prosperity in 2018 and 2019, driven by boosted household earning power and strong performance by small businesses, the backbone of the American economy. As a result of the tax cuts, average families saved over $2,000 per year in taxes, money that can be reinvested in household finances and communities… The tax cuts caused the economy to surge… Wages, including wages adjusted for inflation, surged.
“The TCJA is vital for American small businesses and families. Ordinary households and small businesses have come to depend on these tax cuts. They are especially important today, given the numerous other headwinds Americans are facing. Please reverse your position on tax hikes and support making the TCJA permanent. Doing so can bring small businesses and the nation back.”