Small Business, Economic Growth, and Taxes
The American people face a tax code that is both inefficient and excessively complex, and unfortunately hurts small business owners and middle-class families the hardest. While deductions and loopholes benefit some, the overall tax code is disadvantageous for both individuals and businesses and has resulted in limited economic stimulation. I fully support comprehensive, pro-growth tax reform through the reduction of loopholes and lowering of overall rates for both businesses and families. Small businesses are absolutely vital to the strength and dynamism of the American economy and they need a tax system that allows them to thrive and create jobs for the neediest American families. The jobs they create will benefit the people in our communities most in need of good work opportunities – low-income families, immigrants, and young people.
As a former small business owner prior to being elected to Congress, I know first-hand the economic benefits that will be unleashed when more time is focused on our families and less on navigating the tax code. We must also ensure the federal government is upholding its mandate to ensure small businesses are earning subcontracting awards from various agencies. I was proud to introduce legislation, H.R. 1386, the SESO Act of 2015, which requires senior government officials to uphold subcontracting goals with small businesses. I am proud that this important legislation was included in the FY2016 National Defense Authorization Act.