SHAHEEN: TAX REFORM AN OPPORTUNITY TO SUPPORT SMALL BUSINESS

(Washington, DC) – This afternoon U.S. Senator Jeanne Shaheen (D-NH) met with small business owners and tax policy experts for a Small Business Committee roundtable on how the U.S. tax code could better support small businesses and promote job growth.  Shaheen, who is a former small business owner and a member of the Senate Committee on Small Businesses and Entrepreneurship, spoke with small business experts on how the regulatory environment could help small businesses and entrepreneurs.

“Small businesses are a critical driver of the American economy, especially in New Hampshire where small businesses make up 96 percent of our state’s employers and create two out of three new jobs,” Shaheen said. “Comprehensive tax reform will help us address our national budget priorities and is an opportunity to help small businesses, spur job growth and help strengthen our economy.

“One of the goals of tax reform has to be encouraging job creation and small business growth. We can do that by reducing regulatory burdens and paperwork and pursuing reform opportunities to bolster bottom lines and help Americans find work.” Shaheen added. 

Senator Shaheen has been an advocate for businesses throughout her career, sponsoring and supporting legislation to help small businesses in New Hampshire and U.S. economic growth. For years, Shaheen has been a strong and active proponent for streamlining the outdated U.S. export control system and helped create the State Trade and Export Promotion (STEP) grant program  and sponsored the bipartisan Small Business Export Growth Act  to help small businesses capitalize on export opportunities.

As a member of the Small Business Committee, she also helped craft the landmark Small Business Jobs Act, which provided unprecedented support for small businesses. The bill cut billions of dollars in taxes for small businesses and helped small companies get access to overseas markets. Earlier this year, the Committee passed Shaheen’s bipartisan legislation to permanently reauthorize the SBA 504 refinance program, which helps small companies refinance their mortgages and lock in low interest rates.  

Today’s Small Business Committee roundtable is expected to be the first of several such discussions that are intended to provide a voice for small firms and entrepreneurs as the Senate Finance Committee moves forward with the discussion of tax reform.