Tax Reform

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  • Small Businesses Struggle with Vast and Complex Online Sales Tax Requirements
    Posted in Press Releases on March 3, 2020 | Preview rr
    Tags: Tax Reform

    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 Minnesota and beyond. While driving the country’s economic engine forward, these small businesses often ope... Read more

  • Opportunity Zones Provide Potential for Small Businesses and Communities
    Posted in Press Releases on October 17, 2019 | Preview rr
    Tags: Tax Reform , Access to Capital

    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 authorize the opportunity zones program. This program provides stepped-up tax enhancements for individua... Read more

  • Reps. Chabot, Velázquez Support Bill to Reduce Burden on Small Beverage Producers
    Posted in Press Releases on October 1, 2019 | Preview rr
    Tags: Tax Reform

    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 Ranking Member Kevin Brady (R-TX) and Chairman Richard Neal (D-MA) in support of H.R. 1175, the Craft Be... Read more

  • Tax Cuts and Jobs Act Working for Countless Small Businesses
    Posted in Press Releases on July 24, 2019 | Preview rr
    Tags: Tax Reform

    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 Member Steve Chabot (R-OH). “As a result, the small business economy is healthier now as compared to a f... Read more

  • Chabot, Velázquez Introduce Bipartisan Small Business Tax Bill
    Posted in Press Releases on January 16, 2019 | Preview rr
    Tags: Tax Reform

    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 complex United States tax code by updating the code to reflect both technological advancements and mode... Read more

  • Ranking Member Chabot Responds to December Jobs Report
    Posted in Press Releases on January 4, 2019 | Preview rr
    Tags: Tax Reform

    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 begin 2019, it is imperative that Congress continue to work toward fostering this economic growth. With... Read more

  • Chairman Chabot Praises Small Business Benefits of Tax Reform
    Posted in Press Releases on December 20, 2018 | Preview rr
    Tags: Tax Reform

    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 Service (IRS), this legislation is another step by Congress to spur economic growth and modernize th... Read more

  • Chairman Chabot Highlights 15-Year High for Small Business Optimism
    Posted in Press Releases on December 4, 2018 | Preview rr
    Tags: Tax Reform

    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 future ahead. With small business optimism reaching historic highs, our policies are not only helping s... Read more

  • Chairman Chabot Statement on Strong GDP Indicating Continued Economic Growth
    Posted in Press Releases on October 26, 2018 | Preview rr
    Tags: Tax Reform

    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 has a direct and positive impact on our nation’s 30 million small businesses. There’s no question that... Read more

  • Chabot Praises Record Unemployment Rate and Higher Wages
    Posted in Press Releases on October 5, 2018 | Preview rr
    Tags: Tax Reform

    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 compensation in September, which is further underscored by the 2.8 percent wage increase generated in 2017. "It... Read more