ATLANTA, June 24, 2016 /PRNewswire-USNewswire/ -- Today, the Job Creators Network (JCN) is applauding the tax reform blueprint released today by House Republicans for recognizing how small businesses, the engine of the American economy, are faced with over-taxation that prevents them from creating jobs and expanding their businesses. The plan's proposals to significantly reduce and simplify taxes would allow small businesses to focus on what they do best: providing the products and services that make everyone's lives better and providing good jobs that are the backbone of the American economy.
"This tax reform blueprint recognizes that American small businesses are overburdened by high taxes and that in order to create new, higher paying jobs for American workers we must provide tax relief to these small businesses," said Alfredo Ortiz, president and CEO of the Job Creators Network. "The Job Creators Network applauds the release of this blueprint and looks forward to working with the Ways and Means Committee on providing needed tax relief for small businesses in order to grow America's economy and create more jobs."
JCN also supports the Bring Small Businesses Back Tax Reform Act (H.R. 5374) announced this month by Rep. Randy Hultgren (R-IL). This bill would also dramatically reduce the tax burden on the nation's small business job creators. U.S. small businesses account for half the nation's jobs and two-thirds of its new jobs. In a nationwide poll, 82 percent of respondents support the reforms proposed in this bill.
The BSBB Tax Act would lower the tax rate on pass-through businesses' first $150,000 worth of earnings to 10 percent. And it would lower the rate on earnings between $150,000 and $1 million to 20 percent.
In a nationwide poll of small businesses commissioned by JCN earlier this year, two-thirds of respondents identified over-taxation as preventing their businesses from thriving. As a result of over-taxation, the survey also found that only one in five small business owners plan to hire additional employees over the next year, and only around one-quarter believe that doing business over the next year will be easier than the previous one.
"The tax plan released today by House Republicans as well as the tax plan introduced earlier this month by Rep. Randy Hultgren would go a long way in knocking down the hurdles facing of the small businesses community," said Ortiz. "If passed they would greatly help bring small businesses, the labor market, and the economy back."
Read the full text of the Bring Small Businesses Back Tax Reform Act here. View the poll results here. Read the white paper JCN released earlier this year assessing the state of American small businesses here. Find out more information about the campaign at DefendMainStreet.com.
To schedule an interview, contact Andrew Ransom at Andrew.Ransom@JobCreatorsNetwork.com or (916) 258-2396.
The Job Creators Network (JCN) is the voice of real job creators that has been missing from the debate on jobs and our economic crisis. JCN members talk about paychecks, not politics, helping the public and policymakers understand how to create jobs. For more information, please visit www.JobCreatorsNetwork.com
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SOURCE Job Creators Network (JCN)