The House of Representatives’ recent proposal is good news for small business

Representatives last week unveiled a 35-page blueprint for a simplified tax code, which would slash the corporate tax rate, reduce the top individual income tax rate, and consolidate the tax code from seven tax brackets to three, among other provisions.

Business groups are applauding the outline, saying it’s an important step toward unburdening small businesses from complicated taxes.

“It will be a huge advantage for small business owners to have a tax return as simple as a postcard,” NFIB President and CEO Juanita Duggan told The Business Journals. “When Congress tackles tax reform, NFIB will fight for the lowest possible small business rates.”

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