Small business advocacy groups have been appealing to Washington to call off the $607 billion tax increases and spending cuts set to start in 2013 immediately. Aside from the fiscal cliff issue, many organizations have put forth complaints regarding federal contracting reform and the never-ending government investment into clean and renewable energies.
The National Small Business Association stated: “The bevy of tax provisions set to expire at the end of 2012 will exacerbate small-business economic woes and uncertainty. In addition to providing a phase-out for these provisions, NSBA is calling for sound, responsible tax reform that promotes economic prosperity- not threatens it. Any proposal must address taxes, spending, and entitled reform.”
“There is no reason why all tax relief measures set to expire at year end cannot be extended for another year to allow for a working transition period on tax reform,” added Karen Kerrigan, the president and CEO of Small Business & Entrepreneurship Council.
Meanwhile, National Association for the Self Employed president and CEO Kristie Arslan said: “The critical issues facing the country and America’s self-employed remain, tax reform being of the utmost importance to ensuring continued economic recovery.”
“Now that the campaign is over, it’s time to get down to the important work of addressing looming issues such as the immediate ‘fiscal cliff’ and the related need for rational long-term fiscal policies that continue to offer targeted support for small businesses and the growing economy, while addressing the need to bring down our deficit,” said John Arensmeyer, founder and CEO of Small Business Majority.
Brad Close, the vice president of public policy of the National Federation of Independent Business also added his opinion to the mix, saying: “The expiring tax rates are a huge deal…. Some kind of fiscal cliff solution that doesn’t raise taxes would remove a lot of uncertainty in their minds right now.”
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