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WRITTEN TESTIMONY FOR THE JOINT HOUSE & SENATE COMMITTEE HEARING ON TAX “Prosperity on Main Street: Keeping Taxes Low for Small Businesses” BY ANNE ZIMMERMAN CO-CHAIR OF SMALL BUSINESS FOR AMERICA’S FUTURE APRIL 8, 2025 Chairman, Ranking Member, and distinguished members of the Committee, thank you for the opportunity to submit this testimony for your consideration. My name is Anne Zimmerman, and I am the President & CEO of Zimmerman & Co CPAs, Inc., an accounting firm with offices in Cincinnati and Cleveland, Ohio. I also serve as Co-chair of Small Business for America’s Future—a national coalition of small business owners and leaders working to ensure policymakers prioritize Main Street by advancing policies that prioritize small business owners, our employees, and the communities we serve, through a tax code that provides economic opportunity. As a tax professional who has spent years serving small businesses and as a small business owner myself, I bring a dual perspective to this discussion. I witness firsthand how the tax code impacts small businesses’ ability to form, grow, and compete in a marketplace increasingly dominated by large corporations with vastly greater resources and influence. The Economic Importance of Small Business Small businesses form the backbone of the American economy. According to the Small Business Administration’s Office of Advocacy, they represent 99.9% of all U.S. firms, employ 45.9% of all private sector workers, contribute 43.5% of GDP, and generate 39% of private sector payroll.[1] The entrepreneurial spirit in America remains strong, with nearly 20 million new business applications filed since 2021—a historic surge in new business formation.[2] These new entrepreneurs represent a tremendous opportunity for economic growth and job creation, but only if they receive the proper support to survive their crucial early years and thrive beyond them. Small businesses have consistently proven their resilience and importance to American economic recovery. Following the Great Recession, small businesses created two-thirds of new jobs, and according to the U.S. Treasury Department, small businesses have created over 70% of net new jobs since 2019, outpacing their contribution of 64% in the previous business cycle.[3] Given their central role in and importance to the American economy, small businesses deserve an economic environment that helps them thrive, including doing the hard work of creating a tax code that allows them to compete on a level playing field with large competitors and supports their success. Despite their critical economic importance, these small businesses—especially the historic wave of new entrepreneurs—now face unprecedented challenges that threaten their ability to drive economic growth. A responsive, equitable tax code is essential to helping them navigate today's economic uncertainty. Supporting Small Business With Responsible Tax Policy In Challenging Economic Times Small businesses today are facing extraordinary challenges amid mounting economic uncertainty. Recent data from the MetLife and U.S. Chamber Small Business Index shows confidence falling to 62.3 in Q1 2025, erasing previous economic optimism. Meanwhile, the NFIB’s Uncertainty Index has reached near-historic levels, and recently announced tariffs have sent the stock market tumbling, adding to the unpredictability facing entrepreneurs. This uncertainty is paralyzing small business planning, with 51% of small business owners in Small Business for America’s Future surveys reporting they’ve put critical business decisions on hold until policies stabilize—representing delayed investments and frozen hiring plans across the country. At this moment of economic vulnerability, small businesses need a tax code that provides stability and support—not one that further tilts the playing field toward large corporations while threatening the social safety net that keeps our communities healthy and our workforce productive. As Congress considers the expiration of TCJA provisions, we face a critical choice between two fundamentally different approaches. One approach—simply extending tax cuts that primarily benefit large corporations and the wealthy—would force Americans to either accept dramatic cuts to crucial government services like Medicare, Medicaid and Social Security, to pay for it, or watch our national debt balloon to unprecedented levels. The CBO estimates that extending Section 199A alone would reduce federal revenues by nearly $700 billion over the next ten years[12]—a staggering investment for a tax provision that comprehensive research shows has delivered minimal economic benefits to most small businesses. The consequences of these choices extend beyond balance sheets. When we cut community services to fund tax breaks for the wealthy, we weaken the very infrastructure that small businesses rely on: educated workers, healthy customers, and stable communities. Main Street entrepreneurs understand this connection—they live and work in these communities and see firsthand how public investments strengthen local economies. A more responsible approach would focus on creating a tax code that genuinely empowers small business growth while maintaining the fiscal discipline to invest in our shared future. By ensuring large corporations pay their fair share through closing loopholes, modestly increasing corporate tax rates, and strengthening enforcement, we can generate significant revenue to fund targeted tax benefits that actually help small businesses grow without adding to our deficit or cutting vital services. Instead of using budgetary gimmicks or bypassing parliamentary rules to push through tax cuts that would add $3.8 trillion to the deficit, we can and should implement a balanced approach. By closing corporate tax loopholes, particularly those that allow multinational corporations to pay lower effective rates than Main Street businesses, we create a level playing field while generating revenue for strategic investments in both small businesses and the communities they serve. The expiration of TCJA provisions this year provides us an opportunity to create a tax code that works for all of Main Street, rather than making permanent old policies that failed to help most small businesses. America’s entrepreneurs need a tax system that helps them navigate our current economic turbulence while building toward future growth—one that funds the community investments their employees rely on while maintaining fiscal responsibility for future generations. As we consider how to provide tax stability during these economically turbulent times, we must honestly evaluate whether the TCJA has delivered on its promises to help small businesses thrive. The evidence clearly shows it has not. The TCJA: Benefits for a Few Small Businesses But Little Impact for Most While proponents of the TCJA argue it helped small businesses, a comprehensive look at the evidence reveals a more nuanced reality: while it did provide benefits to a subset of high-income business owners, it delivered little to no benefit to the majority of Main Street small businesses that form the backbone of our economy. The available research and data from multiple sources paint a consistent picture of a law that favored large corporations and wealthy business owners while offering minimal impact for typical small businesses. The Congressional Research Service found that the main small business provision—Section 199A—was dramatically skewed toward the highest earners. For tax year 2023, more than 52% of the total dollar value of the deduction went to business owners with incomes above $500,000, who represent less than 5% of eligible taxpayers claiming the deduction. Meanwhile, business owners with incomes below $100,000 received just 12% of the benefits, despite making up over 60% of those claiming the deduction.[5] These statistics are far more than abstract numbers—they represent real inequities I witness every day in my accounting practice. Just last week, I was preparing tax returns for clients and saw a small restaurant owner who employs 11 people receive a mere $700 in savings from the Section 199A deduction—a nice amount personally but hardly transformative for his small business. That same day, I prepared a return for someone with over $4 million in income who received more than $6,700 in savings from the same deduction, simply because of investments in real estate partnerships. This stark contrast illustrates how this deduction routinely fails to reach the small businesses it was supposed to help. The CRS findings and my observations are reinforced by comprehensive research that analyzed administrative tax data to examine the actual economic impacts of TCJA—one of the key rationals for the provision when the law was passed. The researchers found “little evidence of supply-side effects" despite the tax benefits provided, with "no significant impact on business investment, no detectable increase in wages paid to non-owner employees, and no measurable effect on employment growth.”[13] A recent Small Business for America’s Future survey of 863 politically diverse small business owners in its network confirms these research findings with real-world experiences. Only 6% of respondents increased their business investment due to the TCJA. Only 6% raised wages. A mere 3% hired more employees. Just 9% were able to pay down business debts. Most tellingly, 43% reported no positive impact whatsoever.[4] The failure of TCJA to benefit most small businesses stems from both its design and implementation. The Section 199A deduction is so complex that more than a third of small business owners in our survey couldn’t even determine if they qualified. The provision’s numerous limitations, phaseouts, and exclusions create a complexity barrier that many small businesses simply can’t overcome without expensive professional assistance that often mitigates any benefit they may see from the deduction. But now, Congress has an opportunity to enact tax policies that genuinely support all small businesses. Rather than extending a flawed approach that helped some small businesses but left most behind, Congress should craft targeted policies that broadly address the needs of Main Street entrepreneurs. This means creating simple, accessible tax provisions that benefit businesses of all sizes—not just those with the resources to navigate complex tax structures or those earning high enough incomes to receive a meaningful benefit from the deductions. When asked directly about the fairness of current provisions: 76% of entrepreneurs we surveyed said that wealthy individuals and large corporations benefited most from TCJA 57% strongly believed that large corporations received "much more favorable treatment" than small businesses 91% of small business owners believe the current tax code favors large corporations over small businesses The expiration of TCJA provisions offers a perfect opportunity to correct these imbalances and create tax policies that work for all of America’s small businesses, not just a privileged few. Beyond the inequity of benefits, the TCJA actually exacerbated one of the most significant burdens facing small businesses: the overwhelming complexity of our tax code. Tax Code Complexity: A Burden on Small Businesses Beyond the inequity of TCJA benefits, the overwhelming complexity of our tax code has long placed a disproportionate burden on small businesses. Tax code complexity represents more than just an administrative burden—it’s a significant competitive disadvantage for small businesses. While large corporations employ teams dedicated to identifying and exploiting every available loophole, small businesses struggle just to ensure basic compliance. According to the Tax Foundation, Americans will spend more than 7.9 billion hours complying with IRS tax filing and reporting requirements in 2024.[6] Though this figure covers all taxpayers, the burden falls disproportionately on small businesses that lack dedicated finance departments. The National Federation of Independent Business has estimated compliance costs small business owners $18-$19 billion per year.[7] Ninety-three percent of small business owners in our survey agree that the "tax code is too complicated for small business owners to navigate without expensive professional help" (67% strongly agreed). As a CPA who works with small businesses, I can attest to the countless hours entrepreneurs spend on tax compliance rather than on growing their businesses. The expiration of TCJA provisions presents a rare opportunity to address both the inequity and complexity problems identified above. Rather than simply extending failed policies, Congress should implement targeted tax reforms that directly address the real challenges facing America's small businesses. Solutions for a Small Business-Centered Tax Code So, as you consider the expiration of TCJA provisions in 2025, I urge you to reject a simple extension of these troubled provisions and instead take the opportunity presented to create a tax code that truly works for America’s small businesses. Here are the most impactful changes small business owners say you could make: A. Exempt the First $25,000 of Small Business Profit from Federal Income Tax This straightforward provision would deliver immediate relief to entrepreneurs in their critical early years. Small business owners in our survey rated this as the most helpful potential change, with 36% ranking it as their top priority. This policy would particularly benefit early-stage and smaller businesses, allowing them to reinvest more capital into growth. B. Simplify the Tax Code and Reduce Compliance Burdens Tax code complexity represents more than just an administrative burden—it constitutes a significant competitive disadvantage for small businesses. Unlike large corporations with dedicated finance departments, small business owners often navigate tax compliance alone or at significant expense. Simplification would allow entrepreneurs to focus on innovation and growth rather than paperwork. C. Create a Small Business Standard Deduction Creating a straightforward standard deduction for small businesses would significantly reduce compliance costs and administrative burden, particularly for early-stage businesses. A simple standard deduction would be accessible to all small businesses regardless of industry and provide a clear benefit that entrepreneurs can count on as they build their businesses. D. Establish a Tax Credit for Hiring First Employees The transition from self-employment to employer status represents a critical growth threshold for small businesses. A targeted tax credit would help more entrepreneurs make this leap, driving job creation across the country. These are the kind of targeted tax policies that actually help small businesses succeed—addressing their real-world challenges rather than providing windfall tax cuts to large corporations and hoping benefits somehow trickle down to Main Street. E. Strengthen IRS Modernization to Enforce Corporate Tax Compliance By ensuring the IRS can effectively enforce tax laws against large corporations and high-income individuals, we can raise significant revenue without adding to the deficit. This approach is far more responsible than using budgetary gimmicks or bypassing Senate rules to push through tax cuts that would add trillions to the deficit. We do not need fiscal shortcuts to give tax cuts to huge corporations and billionaires while irresponsibly adding to our national debt burden. Responsible tax reform should be paid for by closing loopholes and improving enforcement. An overwhelming 91% of small business owners support the IRS prioritizing enforcement on high-income individuals and financial crimes.[9] This is about creating a modern and efficient IRS that can enforce a level playing field where large corporations have to play by the same rules as small businesses. The IRS was specifically directed that modernization funding not be used to increase audits on small businesses or households making under $400,000 annually. This commitment has enabled the IRS to focus on improving service while addressing tax evasion among high-income individuals and large corporations. Reports show measurable improvements in IRS service levels, including: Reduction in phone wait times from 28 minutes to 3 minutes Answering 3 million more calls than in the prior year Serving 140,000 more taxpayers in-person than during the prior year F. Ensure Large Corporations Pay Their Fair Share By requiring large corporations to contribute equitably to our tax system, we can fund small business-focused reforms while leveling the competitive playing field and addressing deficit concerns. Notably, 61% of small business owners we surveyed support raising the corporate tax rate to pay for new small business tax benefits. Increasing the current 21% corporate tax rate—reduced from 35% by the TCJA—to 28% would generate substantial revenue while remaining below pre-2017 levels. This moderate increase would help fund vital programs and small business supports. Conversely, proposals to further reduce the corporate rate to 15% are fiscally irresponsible and would exacerbate the already significant advantages large corporations maintain over small businesses. The evidence clearly demonstrates that large corporations are not currently contributing their proportionate share to public finances. The Institute on Taxation and Economic Policy found that effective corporate tax rates for large profitable companies fell from an average of 22.0% before TCJA to just 12.8% after the law took effect. A more balanced corporate tax structure would restore equity while generating resources to invest in small business growth, workforce development, and the community infrastructure that Main Street businesses require to succeed. These specific improvements were made possible by Inflation Reduction Act funding according to the Treasury Department. These improvements directly benefit small businesses, which often lack the resources to navigate prolonged IRS interactions or secure expensive professional representation. G. Close Corporate Tax Loopholes In addition to providing relief to strengthen American small businesses, Congress can also help small businesses by leveling the playing field and eliminating incentives for large multinational corporations (MNCs) to shift profits and production offshore. The current “round-tripping” loophole gives U.S. MNCs a 50% tax discount to shift both production and profits to tax havens and then sell back to U.S. consumers at a tax rate as low as 10.5% — just half the 21% corporate rate. Meanwhile, small and domestic businesses that manufacture in the United States and sell to American consumers pay full U.S. tax on their profits, putting them at a clear disadvantage. This unfair tax structure – which small businesses can’t take advantage of – encourages offshoring, increases the budget deficit, and undermines the competitiveness of American small businesses. Closing this loophole by applying the standard corporate tax rate to profits from U.S. sales would improve fairness in the tax code, discourage offshoring, and generate nearly $70 billion in revenue over ten years, according to the Penn Wharton Budget Model. This is not about punishing businesses; it is about ensuring a neutral tax system that does not tilt the playing field in favor of large multinational corporations at the expense of small businesses and American workers. Another significant loophole is the preferential tax treatment for stock buybacks, which allows corporations to distribute profits to shareholders with fewer tax consequences than dividends, costing the Treasury up to $246 billion if the excise tax were raised to 4%. These and other loopholes create an uneven playing field where Main Street businesses must pay the full U.S. tax rate on their profits while multinational corporations with complex tax avoidance structures pay much less. Closing these corporate tax loopholes would generate significant revenue that could fund small business tax benefits without cutting vital programs or adding to the deficit. This approach ensures fiscal responsibility while creating a more competitive environment for America's small businesses to thrive. Conclusion The decisions our elected leaders make about the tax code now will have profound implications for millions of small businesses across America. I urge you to do the necessary work of creating a tax system that truly levels the playing field, supports small business growth, and ensures large corporations pay their fair share without slashing vital programs or increasing the deficit. A small business-centered tax code would: Provide targeted, accessible tax benefits to small businesses at all stages of growth Simplify compliance requirements to reduce administrative burden Maintain a fair competitive landscape between businesses of all sizes Ensure large corporations pay their fair share Raise revenues by closing loopholes and enforcement Ensure the proper functioning of our tax administration system Fund important investments without adding to the deficit At this moment of unprecedented economic uncertainty, America’s small businesses need meaningful tax reform that helps them navigate our current turbulent environment while positioning them for future growth. We need a tax code that doesn’t just benefit the largest corporations, but one that recognizes the unique challenges faced by Main Street businesses that are the true engines of job creation and economic resilience in our communities. By placing the needs of small businesses at the forefront of our tax code and policy choices, we can cultivate a robust economy rooted in entrepreneurship and innovation. Thank you for the opportunity to submit this testimony. Small Business for America’s Future and our network of small business owners across the country stand ready to work with you to build a tax code that truly works for Main Street. [1]: "Frequently Asked Questions About Small Business," Office of Advocacy, Small Business Administration, July 2024. [2]: "Record-Shattering 20 Million Business Applications Filed Under Biden-Harris Administration," U.S. Small Business Administration, November 14, 2024. [3]: "Small Business and Entrepreneurship in the Post-COVID Expansion," U.S. Department of the Treasury, December 18, 2024. [4]: "Corporate Taxes Before and After the Trump Tax Law," Institute on Taxation and Economic Policy, 2022, https://itep.org/corporate-taxes-before-and-after-the-trump-tax-law/ [5]: "Section 199A Deduction: Economic Effects and Policy Issues," Congressional Research Service, February 2024. [6]: "Tax Complexity Now Costs the U.S. Economy Over $546 Billion Annually," Tax Foundation, October 9, 2024, https://taxfoundation.org/data/all/federal/irs-tax-compliance-costs/ [7]: "NFIB: Changes to Sales Tax Act Would Mean Higher Compliance Costs for Small Business," NFIB, April 18, 2018, https://www.nfib.com/content/news/kansas/nfib-changes-to-sales-tax-act-would-mean-higher-compliance-costs-for-small-business/ [8]: Small Business for America’s Future Tax Survey, December 2024-January 2025. All policy preference statistics in this section come from this source. [9]: Small Business for America’s Future Tax Survey, December 2024-January 2025. All IRS-related survey statistics in this section come from this source. [10]: "Inflation Reduction Act 1-Year Report Card: IRS Delivers Dramatically Improved 2023 Filing Season Service, Modernizes Technology, Pursues High-Income Individuals Evading Taxes," U.S. Department of the Treasury, August 16, 2023, https://home.treasury.gov/news/press-releases/jy1695 [11]: Small Business for America’s Future Tax Survey, December 2024-January 2025. All healthcare-related survey statistics in this section come from this source. [12]: "The Debate over Extending the Section 199A Deduction for Qualified Business Income," Brookings Institution, March 2025, https://www.brookings.edu/articles/199as-sunset/ [13]: Goodman, L., Lim, K., Sacerdote, B., & Whitten, A. (2024). "The pass-through deduction of the 2017 Tax Cut: Incidence and real effects." Journal of Public Economics, Volume 232, April 2024, 105038. https://www.sciencedirect.com/science/article/abs/pii/S0047272724002299

FOR IMMEDIATE RELEASE Media Contact Janel Knight Trulear janel@emccommunications.com (617) 875-6581  Senate Budget Maneuvers Mask $3.8 Trillion Deficit Increase from Billionaire Tax Cuts Statement by Shaundell Newsome, Founder of Sumnu Marketing in Las Vegas, Nevada and Small Business for America's Future Co-Chair on the pending budget reconciliation bill LAS VEGAS, April 3, 2025 – “The Senate is moving forward with a budget reconciliation bill by using irresponsible gimmicks to get around having to account for the $3.8 trillion in costs of extending tax cuts that cater to large corporations and billionaires but do little to help the small businesses that form the backbone of our economy. “This deliberate rushed attempt to obscure the fiscal impact of tax cuts for the wealthy is dishonest and leaves us with a ballooning deficit and inadequate debate that threatens to worsen economic inequality. If lawmakers were serious about economic growth, they'd focus on supporting entrepreneurs in those crucial early stages with meaningful tax credits and target loopholes that only benefit large corporations to generate revenue that supports small business programs and prevents harmful cuts to critical services. "The Tax Cuts and Jobs Act has failed small businesses. Our surveys have repeatedly shown that the majority of Main Street entrepreneurs could not hire new employees, buy new equipment or even pay down debts after the cuts. Instead of rushing through irresponsible and costly tax cuts for large corporations and the wealthy, lawmakers should do the hard work of creating a tax code that helps small business owners succeed and grows our economy. "The prosperity of our communities depends on the success of small businesses. We urge lawmakers to stop catering to large corporations and billionaires and start listening to the voices of small business owners who create jobs in every community across this country." To schedule an interview with a representative from Small Business for America’s Future, contact Janel Knight Trulear at janel@emccommunications.com or (617) 875-6581. ### About Small Business for America’s Future Small Business for America’s Future is a national coalition of small business owners and leaders advocating for policy solutions that promote a thriving, inclusive economy. We work to ensure that lawmakers prioritize the needs of Main Street, advancing a just and equitable economic framework for small business owners, their employees, and their communities. For more information, visit www.smallbusinessforamericasfuture.org .

FOR IMMEDIATE RELEASE Media Contact Janel Knight Trulear janel@emccommunications.com (617) 875-6581 Snap Survey: Small Business Owners Across Political Spectrum Sound Alarm on Economy and Chaotic Tariff Policy as 63% Say US on Wrong Track In survey fielded this week small businesses united in concern about economy as tariff announcements create 'whiplash,' with 71% saying they must pass price increases on to consumers and half freezing business decisions like expansion due to economic uncertainty March 13, 2025, WASHINGTON, D.C. – A new national survey of small business owners reveals widespread concern about the U.S. economy, particularly fueled by the “whiplash” caused by recent trade policy. In a snap survey of 501 small business owners in the Small Business for Americas Future Network, 63% believe the American economy is on the wrong track. The survey found that the impact of tariffs is a particular concern, with 78% of respondents expecting increased costs for imported materials and 71% anticipating they will need to pass these higher costs on to consumers. “Small business owners from across the political spectrum are sending a clear warning signal about the direction of our economy,” said Walt Rowen, Co-Chair of Small Business for America's Future. "The whiplash of rapidly changing tariff policies has forced many small businesses to put important decisions on hold. I personally am facing higher prices for supplies that because of already tight margins will have to be passed on to my customers. And some of my suppliers who get materials from Mexico are in limbo. Entrepreneurs need certainty to confidently plan. Instead, we’re seeing businesses delay growth initiatives, stockpile cash, and prepare to raise prices—actions that could trigger the economic slowdown we're all worried about.” The survey found small business owners are particularly troubled by the volatile cycle of tariff impositions and postponements on goods from Canada, Mexico, and China. This inconsistent policy approach has created significant apprehension among entrepreneurs trying to make sound business decisions, with 72% agreeing (60% strongly) that “the rapid announcements, implementations, and postponements of tariff policies create a ‘whiplash effect’ that makes it difficult for my business to plan effectively.” Overall, 66% believe tariffs are “mostly hurting the U.S. economy,” while just 16% see them as “mostly helping.” This economic anxiety is translating into concrete defensive actions: 78% of small business owners surveyed expect tariffs to increase costs for imported materials and goods 71% anticipate they would need to raise prices for consumers to offset those costs 51% are putting business decisions on hold until trade policies become more certain 47% are concerned about general inflation across the economy The survey findings align with other recent data on small business sentiment, including the National Federation of Independent Business' Uncertainty Index, which reached its second-highest reading on record in February 2025 (dating back to 1973). Like the SBAF survey, the NFIB data shows wavering confidence in continued economic growth amid chaotic trade policy announcements. The SBAF survey also found broad concern about President Trump's approach to economic policy, with 69% saying he has “moved too quickly and overreached with his policy changes.” His overall approval rating stands at 31% among small business respondents, with 64% disapproving. Survey respondents represented an even political distribution, with nearly identical representation from Democrats (24%), Republicans (25%), and independents (31%). The cross-partisan nature of these concerns suggests economic anxiety transcends typical political divisions among business owners. “The fact that small businesses across party lines share these concerns speaks volumes,” Rowen said. “Small businesses employ nearly half of all American workers and drive economic activity in every community. For these job creators to thrive, they need policies that actually help Main Street—like lowering healthcare costs and creating a fair tax code. Instead, we’re seeing chaotic policy decisions that create economic uncertainty. When entrepreneurs can't predict their costs from one week to the next, they rationally choose to delay hiring and expansion. This hesitation ripples through the entire economy, affecting families nationwide.” The snap poll was conducted between March 7-12, 2025, among small business owners representing diverse industries including professional services, food and beverages, construction, manufacturing, and retail. To schedule an interview with a representative from Small Business for America’s Future, contact Janel Knight Trulear at janel@emccommunications.com or (617) 875-6581. ### About Small Business for America’s Future Small Business for America’s Future is a national coalition of small business owners and leaders advocating for policy solutions that promote a thriving, inclusive economy. We work to ensure that lawmakers prioritize the needs of Main Street, advancing a just and equitable economic framework for small business owners, their employees, and their communities. For more information, visit www.smallbusinessforamericasfuture.org .

FOR IMMEDIATE RELEASE Media Contact Nazirah Ahmad nazirah@emccommunications.com 704-290-6869 Small business needs economic stability and a focus on bottom-line needs from policymakers Statement by Walt Rowen, President of Susquehanna Glass Company in Columbia, Pennsylvania and Small Business for America's Future Co-Chair on President Trump’s address to Congress COLUMBIA, Pa, March 4, 2025 – “As President Trump addresses Congress tonight, we urge the administration to prioritize economic stability and focus on practical policies that will have a positive impact on the bottom lines of small businesses. The recent wave of disruptive policies, including slapping punitive tariffs on our most important trading partners, has created an environment of uncertainty that threatens small business growth. What Main Street needs are concrete solutions that address our real challenges, not policies that increase costs and make business planning virtually impossible. “The escalating tariffs on goods from China, Mexico, and Canada are not the actions small businesses need to thrive. As a small business owner in Columbia, Pennsylvania, I’ve already seen how these trade policies increase costs and disrupt our supply chains. Tariffs function as taxes ultimately paid by small businesses and American consumers. “In addition, we’re seeing reckless cuts to government agencies that serve us and our customers. Small business owners depend on effective government services—from the Small Business Administration to Veterans Affairs to the Department of Transportation—for their day to day operations. I’ve seen how the unpredictability surrounding the economic fallout from dramatic government cuts makes business owners hesitant to invest in expansion. This is particularly concerning for veteran-owned small businesses, which employ nearly 5.5 million Americans. In addition, veterans make up 30% of the federal workforce and are vital contributors to our small business economy. “This economic hesitation, compounded by destabilizing policy shifts like new tariffs, creates an environment where small businesses cannot confidently plan for the future. Business owners require stability and predictability from their government to make sound business decisions. Without it, we face the real possibility of fewer new jobs and diminished economic activity across communities nationwide. “What Main Street America needs instead is a focus on lowering the costs that eat into small businesses’ bottom lines: policies that rein in the soaring healthcare costs that have burdened small employers for decades, 88% of small business owners believe the prescription drug pricing market needs to be changed. Main Street also needs a tax code that supports small business success and creates a level playing field rather than favoring large corporations; and improved access to capital. Our recent survey found that 72% of small business owners believe the current tax code favors large corporations over small businesses – a fundamental imbalance that must be addressed. “Small businesses are the backbone of local economies nationwide, creating nearly two-thirds of new jobs in America. The prosperity of our nation depends on ensuring small businesses have the stability, resources, and level playing field they need to succeed.” To request an interview, contact Nazirah Ahmad at (704) 290-6869 or nazirah@emccommunications.com . ### About Small Business for America's Future Small Business for America's Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We're committed to ensuring policymakers prioritize the nation's 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org . Follow us on Twitter and Facebook. #SmallBizAF.

FOR IMMEDIATE RELEASE Media Contact Nazirah Ahmad nazirah@emccommunications.com 704-290-6869 New York Small Business Owner Opposes House Budget Resolution's Tax Provisions Statement by Patrick Hall, Owner of Élan Flowers in New York, NY and Small Business for America's Future Council Member New York, NY, Feb. 26, 2025 —"The House budget resolution's extension of the 2017 Tax Cuts and Jobs Act ignores the real needs of small businesses like mine in New York. The resolution delivers $4.5 trillion in tax cuts that primarily benefit large corporations while recklessly cutting $2 trillion from programs our communities rely on. “This resolution would perpetuate the harmful two-tier tax system that gives large corporations permanent, substantial tax cuts while leaving small businesses with temporary, complex provisions. A recent Small Business for America's Future survey shows that 91% of small business owners believe the tax code already favors big companies, and the TCJA only worsened this imbalance. “I spend thousands of dollars per month on an accountant for my business taxes because the provisions are so complicated to navigate by myself. As a small business owner, I should be able to spend my resources on hiring and business development. We need a simple tax system where small businesses can compete on an even playing field with large corporations. “The proposed reckless cuts to healthcare programs like Medicaid will impact not only small business owners and their employees but also the vitality of our communities. We need policymakers to find ways to make health benefits affordable so we can provide our small business employees with health insurance just like the large corporations do and compete for workforce talent. “The reality is clear from a recent Small Business for America's Future survey : nearly half of small businesses saw no benefit whatsoever from the TCJA, yet this budget resolution would extend these failed policies. Only 6% of small business owners were able to grow their businesses, and a mere 3% created new jobs as a result of the law. “Small businesses employ nearly half of all Americans in the private sector. We need tax policies that recognize our vital economic role—like exempting the first $25,000 of profit from federal income tax and modernizing the IRS to improve services for small businesses. The Senate should reject this resolution and craft tax policies that genuinely support Main Street businesses." To request an interview with Patrick Hall or any Small Business for America's Future member, contact Nazirah Ahmad at (704) 290-6869 or nazirah@emccommunications.com. ### About Small Business for America's Future Small Business for America's Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We're committed to ensuring policymakers prioritize the nation's 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org . Follow us on Twitter and Facebook. #SmallBizAF.

FOR IMMEDIATE RELEASE Media Contact Nazirah Ahmad nazirah@emccommunications.com 704-290-6869 Pennsylvania Small Business Leader Warns House Budget Resolution Will Worsen Tax Inequities  Statement by Walt Rowen, President of Susquehanna Glass Company in Columbia, Pennsylvania and Small Business for America's Future Co-Chair Columbia, PA, Feb. 26, 2025 —"As a small business owner in Pennsylvania, I'm alarmed by the House's passage of a budget resolution that increases our deficit by $3 trillion while delivering tax benefits primarily to large corporations and the wealthy—not Main Street businesses. “This resolution would deepen the already problematic two-tier tax system that puts small businesses at a significant disadvantage. A recent Small Business for America's Future survey shows that 91% of small business owners believe the tax code favors big companies, while small businesses struggle with temporary, complex provisions that deliver minimal benefits. “The complexity of our tax code is eating away at small businesses' bottom lines, diverting money to tax compliance that could go toward jobs and expansion. Small business owners don't have the resources to navigate complicated tax provisions the way large corporations do. We need a simpler, more straightforward tax system that doesn't require an expensive expert just to comply with basic regulations. “Additionally, the resolution's proposed reckless $2 trillion in spending cuts, including significant reductions to healthcare programs like Medicaid, would hurt both small business owners who rely on these programs and the communities where we operate. “A recent Small Business for America's Future survey confirms these challenges: nearly 40% of small business owners couldn't even determine if they qualified for the TCJA's signature small business provision. Meanwhile, large corporations received an immediate, permanent 14% tax cut that was crystal clear. This two-tier system must end. “As Congress debates tax policy, they should focus on solutions that actually help small businesses grow—like exempting the first $25,000 of small business profit from federal income tax and creating a simplified standard deduction for small businesses. These practical changes would deliver real benefits to Main Street, unlike the failed TCJA policies this budget resolution seeks to extend." To request an interview with Walt Rowen or any Small Business for America's Future member, contact Nazirah Ahmad at (704) 290-6869 or nazirah@emccommunications.com. ### About Small Business for America's Future Small Business for America's Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We're committed to ensuring policymakers prioritize the nation's 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org . Follow us on Twitter and Facebook. #SmallBizAF.

FOR IMMEDIATE RELEASE Media Contact Nazirah Ahmad nazirah@emccommunications.com 704-290-6869 Colorado Small Business Owner Calls for Rejection of House Budget Resolution Statement by Masaru Torito owner of Kokoro Restaurant, in Denver and Small Business for America's Future Council Member Denver, CO, Feb. 26, 2025— "As a small business owner in Colorado, I'm deeply troubled by the House's budget resolution that would extend the failed Tax Cuts and Jobs Act while recklessly cutting critical programs that support our communities. The TCJA has created a two-tier tax system that puts small businesses at a competitive disadvantage against large corporations. “A recent Small Business for America's Future survey demonstrates this clearly: while 91% of small business owners believe the tax code favors big businesses, only 6% of small business owners were able to grow their businesses by purchasing new equipment or expanding operations under the TCJA. Just 3% created new jobs. Meanwhile, big corporations received permanent tax cuts that immediately benefited their bottom lines. “The resolution's proposed reckless $2 trillion in spending cuts, impacting healthcare programs like Medicaid, would have devastating effects on many small business employees and the overall economic health of our communities. “Small businesses are the backbone of communities across Colorado. We deserve a tax code that works for us, not just for large corporations with teams of accountants and lawyers. The complexity of our current tax system diverts resources from growth and innovation. “Instead of extending policies that have failed small businesses, Congress should focus on practical solutions like exempting the first $25,000 of small business profit from federal income tax and creating a simplified standard deduction for small businesses. The Senate must reject this misguided budget resolution and prioritize tax policies that truly support Main Street entrepreneurs." To request an interview with Masaru Torito or any Small Business for America's Future member, contact Nazirah Ahmad at (704) 290-6869 or nazirah@emccommunications.com. ### About Small Business for America's Future Small Business for America's Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We're committed to ensuring policymakers prioritize the nation's 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org . Follow us on Twitter and Facebook. #SmallBizAF.

FOR IMMEDIATE RELEASE Media Contact Nazirah Ahmad nazirah@emccommunications.com 704-290-6869 Small Business Owner in Wisconsin Criticizes House Budget Resolution as Harmful to Main Street  Statement by Daniel Guerra Jr., Founder of Altus, Inc. in Madison, WI and Small Business for America's Future Council Member Madison, WI, Feb. 26, 2025— "The House budget resolution calling for a $4.5 trillion extension of the 2017 Tax Cuts and Jobs Act is deeply concerning for small business owners like me across Wisconsin. It's disheartening to see lawmakers push for a repeat of policies that simply didn't work. The 2017 tax plan did absolutely nothing to help my business grow. “This resolution would further entrench the two-tier tax system that overwhelmingly favors large corporations over small businesses. A recent Small Business for America's Future survey confirms this reality, with 91% of small business owners reporting that the tax code favors big companies, while 76% believe wealthy individuals and large corporations received most of the TCJA's benefits. “Even more concerning, the proposed reckless $2 trillion in spending cuts could slash healthcare programs like Medicaid that many small business owners, their employees, and communities rely on. These cuts will disproportionately harm Main Street businesses while delivering windfall tax benefits to large corporations. “Instead of continuing to prioritize large corporations, we need a tax system that recognizes the unique challenges small businesses face and provides meaningful support to help us create jobs and strengthen our communities. A recent Small Business for America's Future survey found only 6% of small business owners were able to increase wages because of the TCJA, and a mere 3% created new jobs. “Small businesses are the economic engine of communities across Wisconsin. We need practical solutions like exempting the first $25,000 of profit from federal income tax and creating a simple standard deduction for small businesses—not more handouts to big corporations that already have significant advantages. The Senate must reject this misguided budget resolution and focus on tax policies that truly support Main Street entrepreneurs." To request an interview with Daniel Guerra or any Small Business for America's Future member, contact Nazirah Ahmad at (704) 290-6869 or nazirah@emccommunications.com. About Small Business for America's Future Small Business for America's Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We're committed to ensuring policymakers prioritize the nation's 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org . Follow us on Twitter and Facebook. #SmallBizAF.

FOR IMMEDIATE RELEASE Media Contact Nazirah Ahmad nazirah@emccommunications.com 704-290-6869 House budget resolution ignores Main Street needs, threatens to deepen tax imbalance Statement by Small Business for America's Future Co-chair Anne Zimmerman on House passage of budget resolution calling for $4.5 trillion in tax cuts and $2 trillion in spending reductions while increasing the deficit by $3 trillion dollars Cincinnati, Ohio, Feb. 26, 2025 –“ We are deeply concerned by the House’s passage of a budget resolution that threatens to further entrench a two-tier tax system that overwhelmingly favors large corporations and billionaires over small businesses. “The resolution, which calls for $4.5 trillion in tax cuts, an extension of the 2017 Tax Cuts and Jobs Act (TCJA), primarily benefits billionaires and large corporations while recklessly cutting $2 trillion from critical programs, including from healthcare programs like Medicaid, that will hurt the small business owners and the communities they serve. “In addition, this resolution calls for extending tax policies that do nothing for small businesses, while delivering windfall tax cuts to their large corporate competitors. Our recent survey of small business owners found that most small businesses got no meaningful benefit from the TCJA. Just 6% of owners were able to grow their businesses by purchasing new equipment or expanding operations. Only 6% could pay their workers more, and a mere 3% created new jobs. Extending a policy that has failed to help small businesses disregards the crucial role Main Street businesses play in our economy. “Small business owners need practical tax solutions: exempting the first $25,000 of profit from federal income tax, creating a simple small business standard deduction, and simplifying the complex tax code that forces entrepreneurs to spend money on accountants and lawyers for compliance—funds that should instead strengthen their bottom lines and support hiring.  “The Senate must reject this misguided budget resolution in favor of creating tax policies that support Main Street entrepreneurs, rather than just feathering the nests of Wall Street corporations and billionaires. Americans deserve a tax system that helps us all by empowering our small businesses to grow, hire, and strengthen our local and national economies." To request an interview with Anne Zimmerman or any Small Business for America’s Future member, contact Nazirah Ahmad at (704) 290-6869 or nazirah@emccommunications.com . About Small Business for America's Future Small Business for America's Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We're committed to ensuring policymakers prioritize the nation's 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org . Follow us on Twitter and Facebook. #SmallBizAF.