Sep 14, 2017

Trumpworld's talking points for small biz tax cuts

(Carolyn Kaster / AP)

White House talking points sent to conservative allies and small business leaders this morning offer a glimpse into the administration's tax reform plan as Trump and his team try to secure their biggest legislative win yet. The details Axios obtained:

  • Lower the burden: "Business owners are inhibited by the current tax rate ... that exceeds 47 percent"
  • Create jobs: "[T]ax cuts aimed at small businesses in the bottom 90 percent of the economy were highly effective at increasing overall economic growth and employment."
  • Simplify and make fair: "The tax code is 2,600 pages long with more than 70,000 forms, instructions, and other pieces of guidance ... It costs small businesses approximately as much as $16 billion to comply with the tax code ... small businesses pay a higher effective tax rate than many large corporations."

Bottom line: Although still scant on details, these talking points suggest the administration is pushing toward a plan that is less comprehensive reform and more tax cuts ā€” something small business owners are pushing for.

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