As our Washington Wire readers know, S-CORP released an important study on Tuesday by Bob Carroll and Gerald Prante from Ernst & Young. The new study focuses on the rate debate in Congress and its impact on job creation and business investment, concluding that allowing the top rates on individual, business, and investment income to rise starting next year would, over time, result in fewer jobs, lower wages, and less investment. The study also found that more than 72 percent of S corporation income is earned by the 500,000 S corporation owners who pay the top two rates.
The study has received some great attention in the news and with policy makers. Below is some of the coverage we’ve seen in the press, and we certainly anticipate more to come.
- Washington Post
- Speaker Boehner
- House Ways & Means
- Sen. McConnell’s Floor Statement
- Bloomberg News
- National Journal
- Washington Examiner
- Washington Free Beacon
- The Hill
- Yahoo! News
Fox News anchor Bret Baier also had study author Bob Carroll and S-CORP’s Executive Director Brian Reardon on his show last night to talk about the study, which was rolled out yesterday at the National Federation of Independent Business. You can view the segment, “Do tax increases hurt job creation?” below.
We’re going to follow up the study with a series of Hill briefings for members and staff. All of this effort is in anticipation of votes in both the House and the Senate later this summer on extending the rates.
Visit our New “Take Action” Page
In an effort to be even more impactful on Capitol Hill, we encourage all of our Washington Wire readers to visit our website and the new “Take Action“ page. We put this up in anticipation of our efforts to support legislation to extend the current rates and it’s already having an impact — dozens of messages from S corporation owners around the country have been sent to their House and Senate representation.
Don’t delay! Visit the “Take Action“ page and let your voice be heard in this important debate.