NWRA Urges House and Senate Leaders to Protect Small Businesses
Arlington, VA – The National Waste & Recycling Association (NWRA) joined other organizations in a letter to congressional leaders urging they oppose the expansion of the Net Investment Income Tax (NIIT) in the Build Back Better Framework.
“Individually and family-owned businesses comprise nearly all businesses in the United States and employ the vast majority of private sector workers. Yet the framework would significantly increase rates on those businesses,” said NWRA President and CEO Darrell Smith. “We urge Congress to reject these tax increases and support policies that encourage investment and job creation.”
The bill would expand the 3.8 percent NIIT to all pass-through business income; impose a new surtax of up 8 percent on all forms of income, including family businesses; and make permanent and expand the loss limitation rules under Section 461. The White House estimates these three changes would amount to a $650 billion tax hike over 10 years.
The National Waste & Recycling Association (NWRA) represents the private sector waste and recycling services industry. Association members conduct business in all 50 states and include companies that manage waste, recycling and medical waste, equipment manufacturers and distributors, and various other service providers. For more information about NWRA, please visit www.wasterecycling.org.
National Waste and Recycling Association