One of the greatest obstacles to increased economic growth and higher standards of living is our nation's complex and ever changing tax code.
Not only does this system possess excessive levels of taxation on income from work, savings and investment, but compliance with its rules and regulations can be extremely time consuming and costly. The current tax code disproportionately affects small businesses, which are forced to expend significant time and resources in order to comply with the extensive, complex and overburdensome tax code.
Moreover, the tax code impedes small business growth by discouraging long term investment due to high capital gains taxes and hinders further job creation with an over reliance on payroll taxes.
Finally, the overwhelming majority of construction businesses are organized as pass-through entities, meaning that their income is taxed at the individual level. These job-creating small and medium-sized businesses would bear the brunt of higher marginal tax rates, wealth surcharges, and corporate-only attempts to reform the code.
• Permanent Extension of the Bush-era Individual Tax Rates
• Permanent Extension of Worthy Business "Extenders"
• Permanent Capital Gains Tax Rate of 15 Percent
• Comprehensive Tax Reform
• Full Repeal of the Estate Tax ("Death Tax")
• ABC’s Bipartisan Tax Bill – The American Job Builders Tax Reform Act of 2011
Halt the Assault: Taxes: The Cost of Congressional Inaction
Construction Executive: "Corporate" Tax Reform ≠ Business Tax Reform