House Ways and Means Committee Releases Discussion Draft on Small Business Tax Reform

On March 12, the House Ways and Means Committee released a discussion draft on small business tax reform. The package is designed to simplify the tax code by identifying ways to make compliance easier for small business entities.  This is the third topic covered by the committee in discussion drafts; the first was territorial treatment of overseas income, while the second dealt with the taxation of financial instruments.  This package hits closer to AGC members’ basic concerns.  The package was released Tuesday and the Committee is currently accepting comments. You can view the summary here, as well as a basic fact sheet. In addition, there is a technical explanation  (70 pages) and the actual legislative text (more than 130 pages), both of which were also released on Tuesday. To share your comments or concerns, please contact Jeff Shoaf at shoafj@agc.org.