Congress should tackle comprehensive tax reform this year. The Ryan-Brady plan would apply necessary rate reductions, regulatory simplifications and differentiation between wage and business income, and the industry-neutral application would unleash job growth we haven’t seen in ages.
This plan cuts corporate tax rate to 20%, decreases small business tax rate from 44% to 25% – which would be the lowest since World War II – and ensures small businesses aren’t classified under individual provisions of the tax code, no longer forcing them to pay inapplicable taxes.
This is fair, smart and would bring more capital reinvestment and business improvement.
– Julio Fuentes, President and CEO, Florida State Hispanic Chamber of Commerce