Roe Statement on the Small Business Tax Cut Act
WASHINGTON D.C. – Today, U.S. Congressman Phil Roe, M.D. (TN-01) released the following statement on passage of the Small Business Tax Cut Act:
“Even though our economy is on the cusp of recovery, we need to do everything we can to incentivize our businesses to create jobs. I voted for the Small Business Tax Cut Act because it will directly help small businesses create jobs.
“Specifically, the Small Business Tax Cut Act will allow small businesses with fewer than 500 employees to take a tax deduction equal to 20% of their active business income, irrespective of how the small business is organized. The 20% small business tax cut goes straight to the bottom line so small business owners can retain more capital, invest in their businesses and create more jobs.”