New Budget Continues the Assault on Main Street
President Biden unveiled his budget proposal for the upcoming fiscal year yesterday and, as we predicted, it’s packed with tax hikes and other poorly-conceived policies that directly target the Main Street business community. The document calls for $4 trillion in tax hikes, nearly half of which would fall on the backs of small and family-owned businesses.
In response, S-Corp joined with 85 trade associations yesterday – including the American Farm Bureau Federation, Associated General Contractors, and the National Restaurant Association – to urge lawmakers to strongly oppose these provisions. The letter reads:
The President claims his budget will only …
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