Printed in Courier on 11/8/2017
Don’t believe the hype. The GOP’s proposed “tax reform” is not going to help small business owners like me. I’ve owned and operated a motel in Grants Pass for more than 17 years. It’s a good business, but the Republican plan to cut the tax rate for “pass-through” corporations to 25 percent won’t affect most businesses like mine. It’s not going to affect my local grocer or my local mechanic. That’s because most small business owners like me aren’t making enough of a profit to even pay a 25 percent tax rate.
The proposed corporate tax cuts will benefit hedge fund managers, Wall Street lawyers and real estate investors. The Trump administration plans to cut $5.8 trillion from Medicaid, Medicare, Social Security, education, employment and training, food and housing assistance, and infrastructure programs, according to the Center on Budget and Policy Priorities. In short, this “tax reform” is a giveaway to the largest and most profitable corporations and the wealthiest of Americans.
Oregon and Grants Pass can’t afford these cuts. Our transportation and telecommunications infrastructures need an upgrade. Many of our residents rely on programs like Medicaid for health care. We need to better train and educate our workforce to attract more companies to the area. My small business can only survive and thrive if we invest in the local community.
This “tax reform” is bad news for our community and for Oregon’s small businesses.