DES MOINES — On Monday, Representative Zach Nunn (IA-03) joined business leaders from the U.S. Chamber of Commerce and Iowa Association of Business and Industry for a roundtable discussion on extending key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) before their scheduled expiration at the end of this year.
“Thanks to the U.S. Chamber and Iowa ABI for bringing together the voices that matter most in this tax debate—Iowa’s job creators,” said Rep. Nunn. “What I heard on Monday was clear: Main Street wants to invest, grow, and hire, but they need certainty to do it. That means extending the Trump tax cuts that fueled record-breaking growth in our communities. I’m fighting to make sure Iowa businesses continue to thrive.”
Unless Congress acts, the country will see the largest automatic tax increase in American history, and according to the House Ways & Means Committee, Iowans will see between a $2,000-$6,000 increase in their yearly tax bill. If the Small Business Tax Deduction expires, the National Federation of Independent Business estimates that 90% of Iowa’s small businesses will face a tax hike, limiting their ability to hire and grow.
“The U.S. Chamber thanks Congressman Nunn for his commitment to pro-growth tax policy, which is crucial to the continued prosperity and stability of all Americans,” said Thomas Wickham, Vice President and Managing Director of Government Affairs at the U.S. Chamber of Commerce. “Congressman Nunn understands that extending the TCJA’s pro-growth tax provisions will enable local businesses to expand, create jobs, and invest. We appreciate his leadership and advocacy on behalf of businesses and families in Iowa’s Third District regarding this matter.”
“ABI members appreciated the opportunity to speak with Congressman Nunn about the importance of the 2017 pro-growth tax reforms, which have allowed Iowa businesses to invest in new equipment, increase wages, and plan for long-term growth,” said Nicole Crain, President of the Iowa Association of Business and Industry. “Making these reforms permanent would provide the clarity and certainty businesses need to continue driving Iowa’s economy forward. We’re grateful for Congressman Nunn’s continued advocacy on behalf of Iowa manufacturers and small businesses.”
Photos from the roundtable can be found here.
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