House Small Business Committee Addresses Tax Reform

On April 10, the House Small Business Committee held a hearing titled, “Small Business Tax Reform: Growth Through Simplicity.” The hearing focused on the need to reform the complex and temporary nature of the Internal Revenue Code for small businesses. During his tenure, Small Business Committee Chairman Sam Graves (R-Mo.) has held 10 hearings dedicated to highlighting the negative impact a complex tax code can have on small firms. Likewise, Ways and Means Committee Chairman Dave Camp (R-Mich.) has conducted over 20 hearings on the issue of comprehensive tax reform. AGC was asked to provide a statement for the record on the provisions included in Chairman Camp’s latest draft discussion proposal on small business and pass-through tax structures. While Chairman Camp was the marquee witness testifying on his latest proposal, the Associated Equipment Distributors and National Tooling and Machining Association were also represented. AGC is working with congressional leaders and members of the tax writing committees on proposals and legislation to address large and small businesses’ priorities for reforming the tax code. For more information on the Small Business Committee hearing, you can visit the committee’swebsite, along with an archived webcast of the hearing. For more information, please contact Brian Lenihan at 202.547.4733 or lenihanb@agc.org.