Congressman Biggs Introduces the 'Freedom for Small Businesses Act'
WASHINGTON, D.C. – Today, Congressman Biggs introduced the Freedom for Small Businesses Act to lower the maximum tax rate on small business revenue to 21 percent—the same low rate that major corporations have been benefiting from since the Tax Cuts and Jobs Act was signed into law. Congressman Biggs and Club for Growth President David McIntosh issued the following statements:
“While the tax code allows a significant deduction for some small business owners, other filers in this category end up paying taxes well above the 21-percent maximum rate that corporations receive. Our economy has been shattering records since the Tax Cuts and Jobs Act was enacted, and I am confident that it will only continue to sizzle if we allow all small business owners to keep more of their hard-earned revenue to expand their operations and hire more workers.” – Congressman Andy Biggs
“Rep. Biggs firmly understands that government taxes businesses too much and stands in the way of entrepreneurship and risk taking. Biggs’ pro-growth legislation to cut the tax rate for family businesses, partnerships, and other privately owned businesses to 21 percent would generate superior economic activity with higher productivity, bigger wages, and stronger growth among pass-through businesses. Club for Growth strongly supports this pro-growth bill which would ensure many smaller and family-owned businesses are taxed at the same rate as large corporations.” – David McIntosh, President, Club for Growth