Only a couple of days into the new Congress and they’re ready to throw hands!

The Chairman’s frustration is justified. The obsession with process over policy is getting old. As Senator Bob Dole used to say, you should talk about your accomplishments, policies, and facts first.  If you don’t have any of those, then fall back on process. “You can always talk about process.” Focusing on process exclusively shifts attention away from the underlying policies and their real-world consequences for Main Street and elsewhere.

It’s also a waste of time.  At the …

(Read More)

Ways & Means Chairman Jason Smith recently told reporters that Section 199A permanence is at the top of his priority list. Yet some in the DC Tax Community continue to crusade against this provision that directly benefits the vast majority of businesses in this country.

A good example is a recent Tax Notes panel on the 2025 tax outlook.  During a discussion on Section 199A, Bill Gale of the Brookings Institute commented:

I mean, it’s well known to be expensive, to be extremely regressive, and not to have had anywhere near the desired impact on either investment or hiring etc. …

(Read More)

The Main Street Employers Coalition gathered in Oklahoma City earlier today for a roundtable discussion with Congressman Kevin Hern, himself a former pass-through owner and an original cosponsor of our 199A permanence bill.  

It was a perfect venue for the gathering. Nearly two out of every three private sector jobs in Oklahoma are supplied by pass-through businesses who rely on 199A to reinvest in their workers and their communities, all while remaining competitive with larger publicly traded companies.  

It’s the sixth event the group has …

(Read More)

Back in April, Chairman Jason Smith announced the formation of ten tax teams designed to identify legislative solutions to avert the coming 2025 fiscal cliff.

In addition to engaging directly with Main Street employers through hearings and roundtables (see here, here, here, and here), the effort requested feedback from stakeholders as to their priorities for the coming year. S-Corp and its allies responded with numerous comments, including:

• Main Street Comments on Section 199A
• S-Corp Comments on Section 199A and other Priorities
• S-Corp Comments on International Tax Changes
• S-Corp Comments on Excess …
  
  (Read More)