ICYMI: Small Business for America's Future: House Vote "to Rescind Much-Needed IRS Funding a Blow Against Creating a Level Playing Field on Taxes for Small Business"

Yesterday, Small Business for America's Future criticized House Republicans' first bill for helping the wealthy and big corporations cheat on their taxes, saying "Rescinding this money would leave the IRS with insufficient levels of staffing to support the growing number of small businesses who need to speak with knowledgeable, well-trained IRS staff to support their small business. We urge the Senate to see this for what it is—a performative vote to incite division—and focus instead on bipartisan legislation that will help our Main Street businesses thrive."

They also note that by allowing big corporations to evade taxes, the House bill would again disadvantage small businesses that play by the rules: "This will hinder progress to level the playing field on taxes for small businesses and middle-class families."

This follows statements yesterday from both the Committee for a Responsible Federal Budget and Center on Budget and Policy Priorities calling the bill "misleading" and "a big mistake." And, a new CBO score found that the Republican bill would add $114 billion to the federal deficit by allowing super-wealthy and business tax cheats to cheat more than $180 billion from the U.S. government.

Read the full release below:

Small Business for America's Future: House Expected to Vote to Rescind Much-Needed IRS Funding a Blow Against Creating a Level Playing Field on Taxes for Small Business
[Anne Zimmerman, 01/09/2023]

Statement by Small Business for America's Future Co-Chair Anne Zimmerman Founder & Owner, Zimmerman & Co. CPAs and Treasurer of Anderson Area Chamber of Commerce in Cincinnati, on House of Representatives' vote to rescind IRS Funding

The House of Representatives is expected to pass the Family and Small Business Taxpayer Protection Act rescinding much-needed funding for the IRS to update its human and technology infrastructure. This will hinder progress to level the playing field on taxes for small businesses and middle-class families.

Political detractors have distorted the purpose of the $80 billion investment in the IRS included in the Inflation Reduction Act. It would not mean more audits for the middle-class and small business but more staff and technology to help the IRS fulfill its duties that are required by law. The funding also would hold the wealthy and large corporations, which are able to pay for lawyers and accountants to find and exploit loopholes, accountable.

Rescinding this money would leave the IRS with insufficient levels of staffing to support the growing number of small businesses who need to speak with knowledgeable, well-trained IRS staff to support their small business. We urge the Senate to see this for what it is—a performative vote to incite division—and focus instead on bipartisan legislation that will help our Main Street businesses thrive.