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Women Businesses to Congress: Make Tax Reform Pass-Through Provision Equitable to Corporate Rate

Tuesday, November 28, 2017  
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FOR IMMEDIATE RELEASE: NOV. 28, 2017

 

Women Business Owners to Congress: Make Tax Reform Pass-Through Provision Equitable to Corporate Rate

 

Statement by Jane Campbell, president of Women Impacting Public Policy, about the tax reform proposals currently under consideration in Congress

 

Women Impacting Public Policy (WIPP), the nonpartisan voice for women business owners, commends the House and Senate for including the first-ever carve out for pass-through entities, which comprise over 95 percent of all businesses in the US. This is an important first step in recognizing that small businesses should be treated more fairly in the tax code. Indeed, 90 percent of women-owned businesses are small businesses. However, we temper our support by asking Congress to give us a better deal than either version currently contains. As several senators have stated, the bill is not good enough for small businesses. 

 

Whether the treatment is structured as a lower tax rate, as in the House bill, or a deduction in the Senate version, we urge Congress to consider making the pass-through provision equitable to the corporate rate reduction. This will help stimulate investment in all businesses, large and small. 

 

Women-owned businesses invest in their communities and the nations economy, growing at twice the rate of all other businesses. But the current tax code puts them at a disadvantage. In fact, research conducted by American Universitys Kogod Tax Policy Center, which drew on a survey of 515 WIPP-affiliated women business owners nationwide, showed the majority of women business owners do not fully benefit from key tax code provisions because of how theyre legally organized or the industries theyre in. 

 

WIPP asks Congress to help rectify this inequity by lowering the business rate for pass-through entities, allowing our nations job creators to participate in much needed tax reform.

 

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About WIPP

Women Impacting Public Policy (WIPP) is a national nonpartisan organization advocating on behalf of women entrepreneurs—strengthening their impact on our nation’s public policy, creating economic opportunities, and forging alliances with other business organizations. www.WIPP.org

 


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