Wednesday, March 04, 2015

Home News Republicans ponder small-business plan

Republicans ponder small-business plan

Industry News

The proposal would provide a 20 percent deduction for companies with 500 or fewer employees.

Bloomberg.com | May 27, 2011

Republicans in the U.S. House aren’t rushing to embrace a small-business tax break included in their campaign platform last year.

The proposal, which would provide a 20 percent deduction for companies with 500 or fewer employees, wasn’t included in a jobs plan released today by House Speaker John Boehner, an Ohio Republican.

The spending plan that House Republicans passed in April included language giving lawmakers budgetary room to advance the concept. Republican leaders haven’t introduced separate legislation to enact it.

Representative Dave Camp, chairman of the House Ways and Means Committee, said he wanted to consider the idea as part of a broader overhaul of the tax code. Without ruling out a special deduction for small businesses, he called for a rewrite of the tax code to lower rates and eliminate special tax breaks.

“We will incorporate tax relief for small business in our fundamental tax reform package that will be comprehensive,” Camp, a Michigan Republican, said today in Washington when asked about the omission of the small-business proposal. “What we’re looking at is having as low a rate as possible with as few exceptions, deductions, provisions, tax expenditures, preferences that we can have in the bill for simplicity, for certainty.”

The proposal in the 2010 campaign pledge was based on legislation Camp wrote that would provide a 20 percent deduction for two years.

For the rest of the article, click here.

Top news

PLANET unveils a new name

Ten years after it was formed, the industry’s national association has updated its name and logo as part of a strategic rebranding.

Free Grounds Guys webinar announced

Landscapers looking for solutions to finding qualified employees can attend the March 4 event.

Rules on recruiting

Knowing what to do isn't the challenge faced by executives – finding who to do it is.

Ariens reflects on passing of past president

Michael Ariens had recently celebrated his 55th anniversary with the company.

Plants and personalities

L&L attended the iLandscape show in Illinois and learned about native landscaping and how to deal with different types people.

x