Starting a small business is about realizing a dream that helps individuals and entire communities. The Kauffman Foundation reports “new businesses account for nearly all net new job creation and almost 20 percent of gross job creation.”
The Status Quo
Today, small business creation is at a 40-year low. That means:
· 110,000 fewer new businesses were started in 2015—the most recent year on record—compared to the pre-Great recession average, and
· 800,000 jobs went uncreated that year
The House Republican tax cuts will help small business. We:
· Cut the small business tax to 25%–the lowest rate since WWII.
· Close loopholes so small businesses and big businesses compete on a more level playing field.
Why We’re Doing This
In America, everyone should have a shot at realizing their dreams. Whether you’re starting a humble sandwich shop or you’re working on the next tech company in your garage, the American people—workers and owners alike—need this small business tax cut.