FEDERALhearing transcript

Senate Hearing on Small Business Tax Reform

Original title: TAX REFORM: REMOVING BARRIERS TO SMALL BUSINESS GROWTH

January 1, 2017

tax reform small business economic policy tax compliance

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The Frame

What this does

This hearing explored legislative proposals to reduce costs for small businesses, which currently spend 67 percent more on tax administration than large corporations.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small business owners

They are the primary subjects of the proposed tax reforms and currently bear the costs of tax compliance.

Tax preparers

Changes to the tax code may alter the demand for professional tax preparation services.

What changed

Last recorded activity January 1, 2017.

What's next

Next step not available in the current record.

Summary

The Senate Committee on Small Business and Entrepreneurship held a hearing on June 14, 2017, to discuss how the federal tax code impacts small business growth. The session focused on the high costs of for small business owners and potential reforms to reduce these administrative burdens.

Key Facts

Small businesses face tax compliance costs 67 percent higher than those of large businesses.
Approximately 89 percent of small business owners rely on outside tax preparers to manage their tax obligations.
The hearing took place on June 14, 2017, in the Russell Senate Office Building.
The committee received written statements and letters from various organizations including the American Farm Bureau Federation, the American Institute of CPAs, and the Small Business Investor Alliance.
The hearing was held during the 115th Congress, First Session.

Frequently Asked Questions

What was the primary goal of this hearing?

The committee met to discuss tax reform strategies aimed at removing barriers to growth for small businesses, specifically focusing on reducing the complexity and cost of .

Who provided testimony at the hearing?

Testimony was provided by Annette Nellen (AICPA), Brian Reardon (S Corporation Association), and Mark J. Mazur (Urban-Brookings Tax Policy Center).

Why It Matters

This hearing explored legislative proposals to reduce costs for small businesses, which currently spend 67 percent more on tax administration than large corporations.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

temporal pattern100% confidence

Context of the hearing

The hearing occurred on the same day as the 2017 Congressional baseball shooting, which was acknowledged by the Chairman in his opening remarks.

James E. Risch

Connected Entities

personBrian Reardon“Witness, President of the S Corporation Association”Map →

personJames E. Risch“Chairman of the Senate Committee on Small Business and Entrepreneurship”Map →

personAnnette Nellen“Witness, Chair of the AICPA Tax Executive Committee”Map →

personJeanne Shaheen“Ranking Member of the Senate Committee on Small Business and Entrepreneurship”Map →

personMark J. Mazur“Witness, Director of the Urban-Brookings Tax Policy Center”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance60
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level

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