The undersigned organizations represent millions of Main Street businesses and employ tens of millions of workers and we oppose the Senate-passed Inflation Reduction Act.  Inflation is at 40-year highs, we have had two consecutive quarters of negative economic growth, and we are witnessing a shrinking small business sector, yet the Inflation Reduction Act does nothing to address these immediate issues even as it increases the burden of the tax code shouldered by America’s small and family-owned businesses.

We, the undersigned trade associations, representing hundreds of thousands of businesses across the nation that collectively employ millions of Americans, write to express our opposition to the inclusion of a tax on the financial statement income of certain businesses (“book tax”) in H.R. 5376, the “Inflation Reduction Act” reconciliation legislation. Economic analyses demonstrate the harmful impact of this provision. The nonpartisan Joint Committee on Taxation found that nearly 50% of the burden of this tax would fall on manufacturers.

We, the undersigned organizations representing millions of Main Street businesses and employing tens of millions of American workers, urge you not to raise taxes on small, individually, and family-owned businesses as part of any effort to enact a reconciliation bill this year.

The Americans for Transportation Mobility (ATM) coalition and the Transportation Construction Coalition (TCC) opposes any and all efforts to undermine recent and historic infrastructure investments, including suspending federal and state motor fuel user fees, commonly known as “gas taxes.” American consumers are facing significant economic anxieties brought about by record inflation, continuing supply chain issues, high energy prices, labor shortages, and continued concerns over the COVID-19 pandemic.

ALEXANDRIA, VA – The National Stone, Sand & Gravel Association (NSSGA) President and CEO Michael Johnson issued the following statement after President Biden asked Congress to approve legislation to suspend collection of the federal gas tax for three months.

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. While we understand the pain Americans are feeling at the pump and throughout the economy due to rising inflation, a gas tax holiday is not the answer to this problem.

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.

ALEXANDRIA, VA – The National Stone, Sand & Gravel Association (NSSGA) President and CEO Michael Johnson issued the following statement opposing legislation that would suspend collection of the gas tax. NSSGA also circulated this letter on the issue to the Hill, voicing concern with proposals for the gas tax holiday. 

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.

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.