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From the category archives: GA - Tax Relief & Fiscal Policy
On Nov. 28, The Senate Budget Committee voted to advance S.1, the Tax Cuts and Jobs Act on a party line vote of 11-10. Senators Ron Johnson (R-Wis.) and Bob Corker (R-Tenn.) voted to send the bill to the Senate floor after originally withholding their support.
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On Nov. 29, President Trump delivered a strong defense of reducing the tax burden on businesses of all sizes in his “Bring Back Main Street” Speech in St. Charles, Mo. He urged Congress to push tax reform across the finish line as the U.S. Senate is expected to vote on their version of the Tax Cuts and Jobs Act this week.
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On Nov. 13, the U.S. Senate began the first day of an expected four-day process to amend and approve their version of tax reform legislation. The U.S. House of Representatives is expected to vote on their version of the bill on Thursday, Nov. 15. If both chambers pass their respective bills, conferees will be designated to negotiate an agreement between the House and Senate versions, which currently include a number of significant differences.
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ABC President and CEO Mike Bellaman joined President Donald Trump and other business leaders at the White House Tuesday to discuss their support for tax reform legislation. At the meeting, President Trump outlined the necessity for tax reform, and thanked the organizations present for supporting the unified tax framework.
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ABC joined dozens of business organizations nationwide to call on Congress to support meaningful tax reform in a full-page advertisement in the Oct. 11 edition of The Hill. The ad, an open letter to Congress, cited a recent national poll of small business owners showing that a majority would use tax cut savings to create jobs, raise wages and move into new product fields. The letter was signed by ABC President and CEO Mike Bellaman along with the CEOs of the Florida East Coast, Florida First Coast and Rocky Mountain chapters.
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On Oct. 4, the U.S. Treasury Department released a report announcing plans to withdraw its proposed regulations under Section 2704 of the Internal Revenue Code, entitled Estate, Gift and Generation-skipping Transfer Taxes: Restrictions on Liquidation of an Interest. The proposed rule was issued Aug. 4, 2016, during the Obama administration.
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ABC President and CEO Mike Bellaman hit the airwaves last week one day after congressional and administration leaders released a highly anticipated tax reform framework. “Our 21,000 members are applauding,” ABC CEO Mike Bellaman said in a live interview with Fox Business’s early-morning FBN:am show on Thursday, Sept. 28. “This helps our big companies, our small companies as well as our workers.”
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President Trump kicked off his push for tax reform with a speech at a manufacturing facility in Springfield, Mo., making the case that a "pro-growth, pro-jobs, pro-worker, and a pro-American" tax code is the key to revitalizing Main Street businesses, bringing back jobs and keeping the United States competitive in the global economy. The event, attended by local small business leaders including more than a dozen members of ABC’s Heart of America Chapter, marked the opening salvo in the White House’s effort to sell a highly anticipated tax bill that sits atop the GOP’s fall legislative agenda.
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In anticipation of congressional action on tax reform this fall, ABC sent out a survey Aug. 15 asking members to weigh in on their top priorities in a tax reform bill. Members are encouraged to respond to the quick survey through the ABC Action Center, where your responses will be used to shape ABC's message as it pushes for tax reform on Capitol Hill.
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ABC joined 42 other national and state organizations in signing onto a letter to Treasury Secretary Steve Mnuchin asking the department to address the confusing and conflicting definitions of “seasonal worker” and “seasonal employee” that are included in the Affordable Care Act (ACA) and its implementing regulations.
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