NSBA First Vice Chair Testifies on Tax Burdens

April 10, 2014

Yesterday, NSBA First Vice Chair Tim Reynolds testified before the House Committee on Small Business on the tax burdens facing small firms, and cited NSBA's recently-released Small Business Taxation Survey.

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NSBA Survey: Tax Complexity A Major Problem for Small Firms

April 10, 2014

NSBA today released its 2014 Small Business Taxation Survey which provides detailed insight on how America’s small-business community is being impacted by federal taxes and shows how complexity and inconsistency within the tax code continue to plague small businesses.

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Senate Finance Cmte. Introduces Tax Extenders Bill

April 2, 2014

The Senate Finance Committee on April 3 will markup legislation, released earlier this week by Chair Ron Wyden (D-Ore.), that would extend a set of expired and soon-to-expire tax breaks commonly known as “tax extenders.”

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President Releases 2015 Budget Proposal

March 5, 2014

President Barack Obama yesterday released his FY 2015 budget projecting a deficit of 1.6 percent of the economy by 2024, down from 1.7 percent projected for 2023 in his last budget blueprint while the federal debt would rise to $25 trillion in 2024, up from $17.9 trillion in 2014.

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Chairman Camp Releases Tax Reform Discussion Draft

March 5, 2014

Late last week, House Ways and Means Chairman Dave Camp (R-Mich.) released his much-anticipated tax reform draft which would lower corporate and individual tax rates, reform U.S. international tax rules and aims to simplify the tax code--a positive first step toward broad reform. Similar to Camp’s previous discussion drafts that he unveiled in 2011 and 2013, this latest draft is not an introduced bill, but it does contain legislative language. Although Congress faces significant election-year challenges in enacting tax reform legislation, Camp plans to work this year to gain support from lawmakers on both sides of the aisle for a comprehensive overhaul of the tax code.

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House Votes on ‘Clean’ Debt Limit Increase

February 12, 2014

Last night, the House voted to extend the debit limit of $17.2 trillion--which expired on Feb. 7--through March 2015 with the Senate eyeing a vote today to finalize the bill prior to the upcoming President's Day recess.

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Debt Ceiling Limit Draws Near

February 5, 2014

Lawmakers are debating an increase to the debt ceiling, which faces a Feb. 28 deadline, with Democrats calling for a clean bill and Republicans urging the inclusion of possible language on the Keystone XL Pipeline.

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