McCracken Meets with Treasury Secretary Lew

January 14, 2015

pic-irs-tax-smNSBA President Todd McCracken and a small delegation of other small-business leaders met with Treasury Secretary Jack Lew on Tuesday, January 13. The hour-long meeting, which included other senior Treasury officials, was a candid discussion of many of the key Treasury-related issues facing the small-business community.

In discussion about the improving economy, McCracken noted that increased economic opportunities are likely to cause increasing numbers of small companies to seek growth related capital and credit. Treasury and other bank regulatory agencies should seek to ensure that there are no undue restraints on bank lending, which could keep small-business growth below its potential.

Tax reform was also a key discussion topic. The administration continues to believe that there is an opportunity to work with Congress on business tax reform. NSBA made clear in the meeting that tax simplification is a key objective for small business, that any corporate tax reform should treat pass-through entities fairly, and that there should not be a significant disparity between corporate and pass-through tax rates.

Please click here for NSBA’s 2014 Taxation Survey.

Please click here to download NSBA’s Tax Reform Checklist.