WASHINGTON, Sept. 27, 2017 /PRNewswire-USNewswire/ -- The following statement was made by U.S. Small Business Administration Administrator Linda McMahon on President Donald J. Trump's proposed tax reform plan:
"I built a business from the ground up, so I know first-hand how challenging the current tax code is for entrepreneurs.
One of the first things I hear from the business owners I've met in my travels around the country is the urgent need for tax reform. They want to see lower rates and a simpler tax code to level the playing field.
President Donald J. Trump's proposed framework eliminates special interest tax breaks that benefit the wealthy and lowers the corporate tax rate, restoring our competitive edge and boosting our economy, which is always good for small business. It also caps the top rate for businesses that operate as pass-through entities (S-Corporations and LLCs).
This is reform that will be welcomed by small business owners!"
About the Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. To learn more about SBA, visit http://www.sba.gov.
Release Number: 17-61
SOURCE U.S. Small Business Administration