Small Business Coalition: GOP Tax Cuts Helped Corporations At The Expense Of Small Businesses

A small business coalition is targeting a handful of congressional districts – including Michigan’s 6th district – with a focused message on the GOP tax cut. The message is that the tax cut is a lavish gift to large corporations and the rich leaving small business and working families high and dry.

Frank Knapp is President of the South Carolina Small Business Chamber of Commerce and co-chair of Business For Responsible Tax Reform.

“The tax law was unfair to small businesses and unfair to working families. We need a new Congress that is willing to look at it again. To make the change that is going to put the money on Main Street that they promised us.”

Business For Responsible Tax Reform says corporations are getting a tax rate break from 35 to 20 percent at the expense of small businesses. Knapp says the GOP’s 2017 tax cut benefits flow to the wealthy and to corporations who are using it to buy back their stock.

The real job creators in America, Knapp says, are small businesses. He says the economic demand that creates jobs is when working people on Main Street have the money they need to buy from small business.

“That money did not flow to Main Street. And that’s where we were told it was going to go.”

Knapp says the tax cut also irresponsibly adds more than $1.5 trillion to the federal deficit.

“It was all a fraud. And now we are paying the price.”