March 21, 2012
Congressman Eric Cantor (VA-07) has introduced H.R. 9, the Small Business Tax Cut Act of 2012, to help small businessmen and women grow their businesses and hire new workers. The Small Business Tax Cut Act as proposed, is a simple, clear solution to help small businessmen and women grow their businesses and hire new workers. The Small Business Tax Cut Act would allow small businesses with fewer than 500 employees to take a tax deduction equal to 20% of their active business income, irrespective of how the small business is organized. Our 20% small business tax cut goes straight to the bottom line so small business owners can retain more capital, invest in their businesses and create more jobs.
The Small Business Tax Cut Act has the support of the American Dental Association, American Truckers Association, American Wholesale Marketers Association, Americans For Tax Reform, Associated General Contractors, Burger King, Coalition of Franchisee Associations, Forging Industry Association, Heating, Air-Conditioning & Refrigeration Distributors International (HARDI), Independent Electrical Contractors, Independent Insurance Agents & Brokers of America, Industrial Fasteners Association, Interlocking Concrete Pavement Institute, International Franchise Association, International Sign Association, National Association of Home Builders, National Franchisee Association, National Ready Mixed Concrete Association (NRMCA), Small Business and Entrepreneurship Council, Warehouse Logistics Association, National Stone, Sand and Gravel Association, Truck Renting and Leasing Association, National Precast Concrete Association and National Council of Chain Restaurants, the National Solid Waste Management Association, the Academy of General Dentistry, the American Academy of Periodontology, and the American Association of Orthodontists.