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NSBA First Vice Chair Testifies on Tax Burdens

NSBA First Vice Chair Testifies on Tax Burdens

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.

NSBA Survey: Tax Complexity A Major Problem for Small Firms

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

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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Plans for Expired Tax Extenders Moves in both Chambers

The tax writing Chairmen in both the House and Senate, Rep. Dave Camp (R-Mich.) and Sen. Ron Wyden (D-Ore.), respectively, have recently placed priority on dealing with the tax extenders in their committees.

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NSBA Survey – Your Responses Needed!

NSBA is urging all members to take a few moments today to complete the 2014 Small Business Taxation Survey which will take no more than 15 minutes of your time.

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President Releases 2015 Budget Proposal

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

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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Congressman Camp Set to Introduce Tax Reform Plan

Today, House Ways and Means Committee Chairman Dave Camp (R-Mich.) is set to release a proposal to overhaul the tax system—a first attempt at rewriting the tax code in nearly 30 years.

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House Votes on ‘Clean’ Debt Limit Increase

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

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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