FOR IMMEDIATE RELEASE:
July 20, 2022
Contact: Press_Paul@paul.senate.gov, 202-224-4343
WASHINGTON, D.C. – Today, U.S. Senator Rand Paul (R-KY) Ranking Member of the U.S. Senate Committee on Small Business and Entrepreneurship, released reports on small businesses in all 50 states in the U.S. that are in danger of tax hikes under the Democrats’ next tax and spending spree.
“Small businesses everywhere are already struggling with record high prices on everything from gas and rent to labor and supplies needed to run their businesses. And now, as the U.S. faces historically high inflation, Senate Democrats seem completely content with adding to their struggles by passing yet another tax and spending spree,” said Dr. Paul. “Now is not the time to raise taxes on America’s already vulnerable small businesses.”
- Democrats are considering increasing taxes to pass-through business owners.
- Despite promises that these taxes are targeted towards the wealthy, these taxes put 8,365,284 small businesses across the U.S. in danger of a tax hike.
- These endangered small businesses employ 62 percent of small business workers which would put an estimated 76,251,996 employees in danger.
You can find the reports for all 50 states HERE.