Fund infrastructure without hurting small businesses | Opinion

By Samantha DeAlmeida

Enacting and maintaining pro-growth tax policies will be key to ensuring our recovery from the coronavirus pandemic. As we begin to reopen and return to normal, America’s workers and our deeply impacted domestic businesses cannot afford to be burdened by extra payments and fees to the government.

However, as part of his push to fund a much-debated infrastructure bill, President Biden’s Made in America Tax Plan calls for raising the corporate tax rate from 21% to 28% and the Global Intangible Low-Tax Income from 10.5% to 21%. These proposed bumps in federal tax rates pose serious problems for New Jersey business development and competitiveness and will lead to fewer jobs, reduced earnings and increased costs.

At the Associated Builders and Contractors of New Jersey, our mission is to be the voice of free enterprise within the construction industry. These proposed tax hikes will not just impact our profession, but enterprises and…

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