The budget released today continues the Biden administration’s attack on individually- and family-owned businesses and should be strongly opposed by Congress. The more than $4 trillion in tax hikes it proposes target businesses responsible for most of the jobs and growth in this country and come at a time when federal tax collections are at record levels. The President claims his budget will only go after “super-wealthy” tax cheats, but it targets over one million small and family-owned businesses.

The diverse group of construction and business associations undersigned urge the U.S. Department of Commerce to ensure public investments in the semiconductor industry are not needlessly constrained by anti-competitive and inflationary policies imposed through unlawful regulatory action. The Creating Helpful Incentives to Produce Semiconductors and Science Act provides $39 billion in federal grants, loans and loan guarantees to rebuild America’s semiconductor manufacturing capacities and allows companies a 25% advanced manufacturing investment tax credit.

On behalf of the undersigned organizations, we write in strong support of the Family and Small Business Taxpayer Protection Act, H.R. 23. This legislation would rescind the Inflation Reduction Act of 2022’s billions in funding for the Internal Revenue Service’s (IRS) expanded enforcement efforts, while retaining funding for the IRS to focus on improving taxpayer services and modernizing operations to serve taxpayers.