Small Business Group Applauds President’s Proposed US Jobs Plan | Opinion

The U.S. Biden Administrations Jobs Plan is an important step forward for small businesses, providing a clear and bold plan of action for the Biden-Harris administration to invest in America and create a level playing field for it. backbone of our economy, American small businesses.

As Main Street entrepreneurs continue to recover from the economic fallout from the COVID-19 pandemic, the U.S. Jobs Plan will create access to capital for millions of struggling small businesses, providing $ 100 billion in loans low-interest companies, by financing non-profit loan programs in disadvantaged areas. This, combined with bold investments in infrastructure, will boost local economies and benefit small businesses that provide goods and services such as supplies, assistance, contractors, etc.

Additionally, Small Business for America’s Future supports the Biden-Harris administration’s proposal to adjust the corporate tax rate. Since the adoption of the Tax Cuts and Jobs Act (TCJA) in 2017, we have argued strongly against the old administration bowing to big business under the guise of economic growth and business creation. jobs. By adjusting the corporate tax rate to 28% – still far lower than the pre-TCJA rate – the American Jobs Plan corrects the massive and unfair 40% tax cut the law offered to wealthy corporations and resizes the corporate tax structure. This ensures that small businesses do not bear the burden of the tax code and that corporations pay their fair share.

By providing the support they need to thrive after COVID-19 and leveling the playing field for corporate taxes, the U.S. Jobs Plan will help small businesses boost their long-term competitiveness. our economy.

We applaud President Biden’s proposal and urge the House and Senate to pass all necessary laws to implement his plan.

Frank Knapp is Co-Chair of Small Business for America’s Future and President and CEO of the South Carolina Small Business Chamber of Commerce.

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