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Tax loopholes issue for businesses

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In our highly partisan environment there seems to be very few issues that Republicans, Independents and Democrats agree on. This partisanship is easily seen in Congress, but is also alive with voters across the country. Small business owners are often no different than their customers in demonstrating divergent opinions on issues depending on their political preferences.
So when we find an issue on which small business owners agree, regardless of partisan leanings, we should take notice. And when that agreement centers on one of them most contentious matters that Congress will soon be addressing, our elected officials in Washington need to pay close attention. Such is the case involving federal tax fairness between small business and large, multinational corporations.
Small business owners are keenly aware that multinational corporations are legally escaping paying much, and often all, of the highly publicized 35 percent United States corporate income tax rate. In a poll released early last year by the American Sustainable Business Council and others, 80 percent of the small business owners surveyed said that U.S. multinational corporations using accounting loopholes to shift their U.S. profits to offshore tax havens is a problem. Seventy-five percent said that big corporations using tax loopholes harms their own small business.


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