President Trump recently visited Harrisburg, advocating for much-needed tax reform. The President understands that cutting tax rates will benefit both the employers and the employees.
It’s no coincidence the President visited our state. Pennsylvania is home to one million small businesses, employing 2.4 million people — roughly half of the state workforce. Small business also accounts for nearly 90 percent of Pennsylvania’s exports. Simply put, our economy succeeds when small business succeeds.
These job creators have the power to boost our economy if they aren’t hindered. Every year, Americans spend nearly 2 billion hours preparing their taxes. The aggregate tax load can reach 50 percent for many small businesses, with almost all of America’s 30 million small businesses paying taxes the federal rate of 39.6 percent for individuals. State and local taxes take even more money that could otherwise be used for job creation and business expansion.
The President’s plan will alleviate this burden and unleash an economic boom in the United States. When small business owners can hire new employees and raise wages for current workers, everyone wins. As President Trump says, tax relief is the path to prosperity.
State Rep. Greg Rothman
87th Legislative District