Washington, July 13—Associated Builders and Contractors today urged Congressional Democrats not to raise taxes on small, individual and family-owned businesses as part of any effort to enact a partisan reconciliation bill.
“This destructive, partisan process that Congressional Democrats are following in attempting to pass a reconciliation bill would have a devastating effect on the construction industry and our nation’s economy,” said ABC Vice President of Legislative & Political Affairs Kristen Swearingen. “As countless, if not all, businesses are facing rising costs, supply chain delays and high gas prices, adding a reported nearly 4% tax increase that would take $200 billion out of the pockets of small contractors and other critical American businesses would make it even more difficult for the backbone of America’s economy to maintain operations.
“Raising taxes on small and family-owned businesses harms not only the businesses but also the communities that rely on them,” said Swearingen. “Congressional Democrats must reject any and all tax hikes on small and family-owned businesses and instead work together to address the ongoing needs of the nation.”
ABC was among hundreds of organizations representing millions of businesses employing tens of millions of American workers that sent a letter to congressional leaders opposing passage of an eleventh-hour, partisan tax and spending bill on July 11.
Associated Builders and Contractors is a national construction industry trade association established in 1950 that represents more than 21,000 members. Founded on the merit shop philosophy, ABC and its 68 chapters help members develop people, win work and deliver that work safely, ethically and profitably for the betterment of the communities in which ABC and its members work. Visit us at abc.org.