Tax Hikes on Job Creators Undermine Investments in our Economic Future

The United State Senate is currently considering the Build Back Better Act (BBB) after recent passage of the $1.75 trillion legislation in the U.S. House of Representatives. BBB rightly seeks to leverage our nation’s strengths in innovation, invest in emissions reduction and energy efficiency, and provide increased and equitable access to child care, housing, and education. Although early drafts of the legislation placed significant tax burdens on businesses, the most recent version scales back or removes untimely tax increases on employers in the middle of a fragile and unpredictable recovery. We need your voice to ensure that these tax hikes do not make their way back into the bill.

Tell your Senator that we need growth, not setbacks! Keep tax hikes on employers out of the Build Back Better Act!

Congress should protect against inclusion of corporate tax rate increases as well as higher tax burdens on the pass-through business sector:

• Raising the corporate tax rate threatens U.S. economic stability and recovery. Business, both big and small, would face even steeper challenges to grow and create jobs. A corporate tax hike coupled with tax increases on U.S. multinational companies with foreign earnings would undoubtedly hurt our region’s global competitiveness and increases the cost of repatriating and reinvesting foreign profits in our region.
• The pass-through business sector is responsible for the majority of private sector employment in our economy. Changes to our tax structure threaten sole proprietorships, partnerships, and S corporations, which make up most businesses in America that are absolutely crucial to our recovery.

Congress should invest in areas of our economy that will provide inclusive and equitable access to child care, education, and housing. In addition, investments in research and development, commercialization, and entrepreneurship will strengthen America’s position as the global leader in innovation.

Tell your Congressional Representatives to support legislation that:

• Does not hike taxes on businesses and increase costs on consumers
• Does invest in infrastructure, education, innovation, and workers