ARA Signs Letter Opposing Main Street Tax Hikes
Jul 11 2022
ARA joined the more than 190 trade associations in writing a letter to oppose the Senate's latest efforts to raise taxes on small and family-owned businesses.
The letter was spurred by recent reports that lawmakers are considering a tax increase specifically targeting Main Street businesses.
The letter was signed by a total of 193 organizations representing millions of Main Street businesses and tens of millions of American workers. It makes clear that, rather than addressing any “loopholes” or funding gaps, this policy amounts to a $200 billion tax hike on these businesses at a time when they can least afford it.
ARA says that Congress should avoid raising taxes on small businesses at any time. With Main Street facing a looming recession, inflation at a 40-year high, unprecedented supply chain challenges, and chronic labor challenges, raising their taxes now is simply reckless.