A broad coalition of Main Street organizations is making the case for the Working Families Tax Cut Act and what it means for the businesses that drive the American economy.
Earlier today, around 100 trade associations signed onto a letter thanking lawmakers for enacting the historic tax relief last year. The letter was organized by our Main Street Employers Coalition and highlights the bill’s real, lasting benefits to the pass-through businesses that employ the majority of private sector workers:
Making permanent lower marginal rates and the Section 199A small business deduction were key to the success of the bill. Those provisions were critical in preserving rate parity by allowing pass-through businesses to compete on a more equal playing field with their larger C corporation competitors. They also ensure Main Street companies have the certainty they need to invest and create jobs.
The Working Families Tax Cut Act also revived a number of pro-investment, pro-growth reforms that will have lasting benefits. Restoring 100 percent bonus depreciation, reinstating full expensing for research and experimentation costs, and easing interest expense caps all encourage the capital formation necessary to modernize, expand, and create jobs.
The benefits of the Working Families Tax Cuts are already flowing through the economy, but they need to be clearly communicated and reinforced. That includes hearing directly from the business owners and workers who are seeing the impact firsthand.
To that end, the Main Street Employers Coalition has launched a dedicated page to collect stories, testimonials, and real-world examples of how these policies are working. If you are a business owner or employee who has benefited, we encourage you to share your experience by clicking here.
That page also features powerful video testimonials from our friends at the American Council of Engineering Companies, Associated Builders and Contractors, National Association of Wholesaler-Distributors, National Cattlemen’s Beef Association, links to a host of resources from the Administration and Congress, and much more.
Main Street businesses are responsible for the majority of jobs and economic activity in this country, and the Working Families Tax Cuts Act is helping to drive their success. Now it’s time for them to tell their stories and get the word out.
<<Click here to download a full copy of the letter sent today>>