Tax Reform

Small Businesses Struggle with Vast and Complex Online Sales Tax Requirements

| Posted in Press Releases

WASHINGTON – Today, the House Small Business Subcommittee on Economic Growth, Tax, and Capital Access heard from a panel of experts and small business owners on challenges faced by small firms following the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc. “Small businesses, entrepreneurs, and startups are transforming neighborhoods and communities from my state of Oklahoma to Minneso... Read more »

Opportunity Zones Provide Potential for Small Businesses and Communities

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WASHINGTON – Today, the House Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access heard from a panel of investment and policy experts on the potential benefits and improvements for the opportunity zone program as it relates to small businesses. “As a way to jumpstart economically distressed areas of the nation, the Tax Cuts and Jobs Act included a provision to auth... Read more »

Reps. Chabot, Velázquez Support Bill to Reduce Burden on Small Beverage Producers

| Posted in Press Releases

WASHINGTON – Small craft beverage producers used a reduced federal excise tax contained within the Tax Cuts and Jobs Act to expand operations and create jobs. However, the provision is set to expire at the end of this year, creating deep uncertainty for producers. Today, Ranking Member Steve Chabot (R-OH) and Chairwoman Nydia Velázquez (D-NY) sent a letter to House Committee on Ways and Means Rank... Read more »

Tax Cuts and Jobs Act Working for Countless Small Businesses

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WASHINGTON – Today, the House Committee on Small Business heard from a panel of experts and small business owners about the benefits of the 2017 Tax Cuts and Jobs Act. “When small business owners are using the Tax Cuts and Jobs Act to reinvest in their companies, their employees, and their communities, the intended effect of that legislation is being realized all across America,” said Ranking Memb... Read more »

Chabot, Velázquez Introduce Bipartisan Small Business Tax Bill

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Washington – Today, Congressman Steve Chabot (R-OH), Ranking Member of the House Committee on Small Business, partnered with Congresswoman Nydia Velázquez (D-NY), Chairwoman of the House Committee on Small Business, to introduce the Small Business Owners’ Tax Simplification Act of 2019. The bipartisan legislation would provide small business owners with much needed clarity as they navigate the com... Read more »

Ranking Member Chabot Responds to December Jobs Report

| Posted in Press Releases

Washington – Today, Congressman Steve Chabot (R-OH), Ranking Member of the House Small Business Committee, released the following statement in response to the Department of Labor’s December 2018 jobs report. “Last month 312,000 jobs were added in the United States, again highlighting the health of our nation’s economy and the success of the Tax Cuts and Jobs Act’s strong growth policies. As we beg... Read more »

Chairman Chabot Praises Small Business Benefits of Tax Reform

| Posted in Press Releases

Washington – Today, the House of Representatives passed the final version of H.R. 88, the Retirement, Savings, and Other Tax Relief Act and the Taxpayer First Act. Key provisions of this legislation would significantly benefit American small businesses. Whether it is through assisting business owners with providing employee retirement plans or redesigning a more taxpayer friendly Internal Revenue ... Read more »

Chairman Chabot Highlights 15-Year High for Small Business Optimism

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WASHINGTON – Today, the latest quarterly Wells Fargo/Gallup Small Business Index was released, indicating a significant jump of optimism among small business owners and the highest score in the survey’s 15-year history. Upon the release of this report, Chairman Chabot (R-OH) said: “Small business owners are experiencing the positive effects of our booming economy, with indicators for a hopeful fut... Read more »

Chairman Chabot Statement on Strong GDP Indicating Continued Economic Growth

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WASHINGTON – House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the gross domestic product (GDP) showed an annual growth rate of 3.5 percent in Q3: “Today’s report is a clear indicator that America’s small business owners and their employees are experiencing continued growth with consumer spending on the rise. This increase in consumer spending ha... Read more »

Chabot Praises Record Unemployment Rate and Higher Wages

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WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the United States Department of Labor reported that 134,000 jobs were added in September with unemployment hitting a 49-year low at 3.7 percent. In addition, the National Federation of Independent Business (NFIB) reported that 37 percent of firms are offering higher compensatio... Read more »