Coalition Letter to Budget Committee and Ways and Means Committee on the Biden Administration's Proposed Budget
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. It would hurt their ability to hire new employees, offer better benefits, and invest in the equipment and technology necessary to sustain their businesses and help them grow. The President might claim his tax proposals close loopholes, but America’s small and family-owned businesses are not a loophole.