Survey Finds 80% of Small Businesses Back Tax Reform

Washington, small businesses demand tax reform.

In the U.S. Chamber’s first Small Business Outlook Survey for 2013, a huge majority (79%) support comprehensive tax reform, with 54% strongly supporting it. That’s the kind of support for popular stuff like grandma, apple pie, and puppies.

Also of note, 76% of small businesses surveyed said they're organized as pass-through entities (think LLCs, partnerships, etc.), which pay taxes on business income at the individual tax rate. Every time there’s foolish talk about raising tax rates on high-income earners (Hi, Paul Krugman) it hits job creators.

Some other interesting findings from the Small Business Outlook Survey include:

• Requirements of the health care law are now the biggest concern for small businesses, having bumped economic uncertainty from the top spot which it has held for the last two years.
• 
  77% said the health care law will make coverage for their employees more expensive, and 71% said the law makes it harder for them to hire more employees.
• 
  32% of small businesses plan to reduce hiring as a result of the employer mandate, and 31% will cut back hours to reduce the number of full time employees.
• 
  Two-thirds (66%) agree that immigration reform will help strengthen the U.S. economy and increase America’s global competitiveness.

Note the US Chamber of Commerce infographic for more findings from the survey.

---

Tags: U.S. Chamber, small business, survey, tax reform To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!