Tax

Coalition Letter Supporting the Fair and Open Competition Act

The diverse group of construction and business associations undersigned below writes in strong support of the Fair and Open Competition Act (S. 403/H.R. 1284), sponsored by Sen. Todd Young, R-Ind. and Rep. Ted Budd, R-N.C. The Fair and Open Competition Act would prevent federal agencies and recipients of federal assistance from requiring or encouraging contractors to sign a controversial project labor agreement as a condition of winning a federal or federally assisted, taxpayer-funded construction contract.

Opposition Letter to Gas Tax Holiday

We write in strong opposition to S. 3609, the “Gas Prices Relief Act of 2022” and the companion bill the “Gas Prices Relief Act” introduced in the House today. These bills will only further weaken the federal Highway Trust Fund and are shortsighted, since the gasoline excise tax is helping to pay for the historic “Infrastructure Investment and Jobs Act (IIJA)” just passed in November of last year.

TCC Letter on Gas Tax Suspension

Suspending the federal gasoline tax in the name of “economic relief” is misguided and could undermine the recently enacted and bipartisan Infrastructure Investment and Jobs Act (IIJA). The national associations and labor unions of the Transportation Construction Coalition (TCC) and the Americans for Transportation Mobility (ATM) coalition strongly oppose the S. 3609, the Gas Price Relief Act of 2022.

Letter to Congress Opposing S. 3609, Which Would Suspend Collection of Gasoline Federal User Fee

On behalf of the 400 members of the National Stone, Sand & Gravel Association, I am writing to share our strong opposition to policies that would diminish revenue sources used to fund the Highway Trust Fund (HTF). Specifically, we call on Congress to reject S. 3609, which would suspend collection of the $00.184 -per-gallon federal user fee on gasoline. This funding is critical to support infrastructure projects which greatly benefit American families and businesses.

Letter to Congress Leadership Opposing the Multi-Trillion-Dollar Tax Increase Included in the Build Back Better (BBB) Bill

The undersigned business trade groups call on Congress and the Administration to end efforts to pass the multi-trillion-dollar tax increase included in the Build Back Better (BBB) bill and focus instead on the challenges confronting American families and businesses today – rising prices, labor shortages, and ongoing supply chain constraints. Today’s Consumer Price Index report showing inflation rising at the fastest rate in forty years has our members understandably alarmed.

Letter to Congress Opposing Tax Hikes in the Build Back Better Framework

The Administration’s Build Back Better Framework released last week would impose the OECD’s highest marginal rates on family-owned businesses and should be rejected by Congress. These businesses just survived a global pandemic and for Congress to impose massive tax hikes on them, with rates exceeding 50 percent in some cases, would be incredibly damaging. The undersigned business organizations, representing millions of Main Street businesses, call on Congress to defeat these ill-advised tax hikes.

Letter to the Committee on Ways and Means Opposing Proposed Changes to the Grantor Trust and Valuation Rules in H.R. 5376

The undersigned organizations, representing millions of individually- and family-owned businesses, strongly urge you to reject the proposed changes to the grantor trust and valuation rules in H.R. 5376, the Build Back Better Act. Individually- and family-owned businesses are the cornerstone of the American economy. They represent nearly all businesses, they employ the vast majority of private sector workers, and they are the building block upon which innumerable communities across this country are built.

Letter to Administration to Oppose New Tax Reporting Scheme by Treasury Department

The undersigned organizations representing a cross-section of business and financial interests write to reiterate our strong opposition to the new tax information reporting regime proposed by the Department of Treasury and under consideration by Congress as part of the proposed reconciliation spending package. We respectfully request that this proposal be withdrawn from further consideration, and the administration consider more targeted measures to reduce the tax gap.

Letter to Oppose New IRS Reporting Scheme to Monitor Business and Individual Accounts

The undersigned associations representing a cross-section of financial and business interests write to express our strong opposition to the proposed new tax information reporting regime as described by the Department of Treasury, that would impact almost every American who has an account at a financial institution. The proposal will require providers of financial services to track and submit to the IRS information on the inflows and outflows of every account above a de minimis threshold of $600 during the year.

Tax Letter in Support of Preserving Business Interest Deductions

The undersigned associations, representing thousands of businesses and workers throughout the U.S. economy, write in strong support of permanently preserving the current limit on business interest deductions—which is scheduled to expire in 2022.  Current law limits businesses’ interest expense deductions to 30% of earnings before interest, tax, depreciation, and amortization (EBITDA) for tax years through 2021. Starting in 2022, interest deductions will be limited to 30% of earnings before interest and tax (EBIT).

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