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From the category archives: Economics

Don’t Raise Taxes on Businesses, Groups Tell Congress

ABC joined 39 other organizations Nov. 27 in sending a letter to leaders in the Senate and the House urging them to avert the looming fiscal cliff of expiring tax provisions and automatic spending cuts that will effectively raise taxes on the majority of small businesses next year.
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ABC and Coalition Call on Congress to Stop Scheduled Estate Tax Hike

As part of the Family Business Estate Tax coalition (FBETC), ABC Nov. 15 sent a letter to members of Congress urging them to pass legislation addressing the estate tax before the end of the year. Barring congressional intervention, the resurgent estate tax rate and diminished exemption would saddle thousands of family-owned businesses with a crippling tax increase.
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Video: ABC Chief Economist Explains Impact of the Fiscal Cliff

Watch ABC Chief Economist Anirban Basu’s analysis of the how the impending fiscal cliff will impact the construction industry. 
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ABC Calls For Bipartisan Legislative Action On Impending Fiscal Cliff

In advance of a Sept. 13 U.S. House of Representatives subcommittee hearing titled, “Adding to Uncertainty: Small Business’ Perspectives on the Tax Cliff,” ABC called for immediate bipartisan action to avert the looming year-end tax increases. Read the rest of entry »

ABC Joins Nearly 300 Organizations Urging Congress To Address Fiscal Cliff

A multi-industry letter, signed by 298 U.S. Chamber of Commerce affiliates, as well as national associations, has been sent to the members of the United States Congress and the President, urging immediate action to avoid further harm to the American economy. Read the rest of entry »

Senate Democrats Vote To Pass Small Business Tax Hike

The U.S. Senate July 25 voted 51 to 48 to pass the Middle Class Tax Cut Act of 2012 (S. 3412), which, if enacted, would result in a massive tax increase on business income, capital investment and family succession. In addition, the Senate voted 45 to 54 against theABC-supported Hatch-McConnell Amendment to S. 3412 that would have forestalled the looming fiscal cliff facing America’s job creators. 
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Notices Issuces Requesting Comments On Health Care Law

The Department of Treasury and the Internal Revenue Service (IRS) recently issued three notices related to the health care law that address minimum value and information reporting on health insurance coverage. In addition, the Departments of Health and Human Services, Labor and the Treasury issued a separate bulletin regarding verification of access to employer-sponsored coverage.  
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IRS Issues Guidance For Reporting Health Care Costs On Employees' W-2s

The Internal Revenue Service (IRS) in January offered additional guidance on a provision in the Patient Protection and Affordable Care Act that will require employers to report the cost of coverage under an employer-sponsored group health plan on each employee’s W-2 form. 
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ABC Joins Group To Support Repeal Of The Health Insurance Tax

ABC is joining more than 30 other organizations as part of the Stop the HIT Coalition to support the Jobs and Premium Protection Act (S. 1880), introduced Nov. 16 in the U.S. Senate, which would repeal the Health Insurance Tax (HIT) contained in Section 9010 of the Patient Protection and Affordable Care Act (PPACA). 
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ABC Member Says Davis-Bacon is "Fatally Flawed" and Calls for Repeal

ABC member Thomas Mistick April 14 told the U.S. House Committee on Education and the Workforce Subcommittee on Workforce Protections that the Department of Labor (DOL) fails at administering the Davis-Bacon Act and that the law is “fatally flawed,” echoing the findings of an April 6 report by the Government Accountability Office (GAO). The hearing was titled, “Examining the Department of Labor's Implementation of the Davis-Bacon Act.” 
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