SBA Administrator Comments on Proposed Tax Reform

Release Date: 
Thursday, September 28, 2017
Advisory Date: 
Thursday, September 28, 2017

INDIANAPOLIS, Indiana - U.S. President Donald J. Trump spoke at a rally in Indianapolis yesterday where he talked about his proposal for an overhaul of the US tax code--a plan U.S. Small Business Administration Administrator Linda McMahon says will be welcomed by small business owners.

"One of the first things I hear from the business owners I've met in my travels around the country is the urgent need for tax reform," McMahon said.  They want to see lower rates and a simpler tax code to level the playing field.  I built a business from the ground up, so I know first-hand how challenging the current tax code is for entrepreneurs."

The plan's framework eliminates special interest tax breaks, lowers the corporate tax rate, and caps the top rate for businesses that operate as S-Corporations and LLCs. 

The U.S. House Small Business Committee is set to hold a hearing October 4th examining how the current tax code affects small businesses, and how changes could impact the nation's job creators.  

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About the Small Business Administration

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.  The SBA helps Americans start, build and grow businesses.  Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. To learn more about SBA, and resources in Indiana, visit sba.gov/in .  You can also follow us on Twitter @SBA_Indiana .