Senate to Vote on Lankford-Rubio-Scott Amendment to Prevent Tax Hikes on Small Businesses During the Pandemic
WASHINGTON, DC — Senators James Lankford (R-OK), Marco Rubio (R-FL), and Tim Scott (R-SC) filed an amendment to the Senate Budget Resolution that would protect small businesses from tax increases. Specifically, the amendment would seek to prohibit Democrats from increasing taxes on small businesses during the pandemic through budget reconciliation, the tool they are using to bypass bipartisan COVID-19 relief legislation. Using the budget reconciliation process allows congressional Democrats to move tax and spending legislation by a simple majority vote. Last year, Congress passed five separate COVID relief packages, all of which were done with bipartisan support, and without budget reconciliation.
“The last thing small businesses need during the Covid pandemic is more uncertainty,” said Lankford. “Over the last year, Oklahoma’s small businesses faced several obstacles and have heeded the call to overcome shutdowns to protect our most vulnerable. A tax increase is the last thing they need right now. As we continue to rebuild our economy, we should encourage policies that promote jobs and reopening safely, not adding one more thing that threatens their survival.”
“Last Congress, as Chairman of the Senate Small Business Committee, I was proud to join with both Democrats and Republicans to provide more than $800 billion in federal funding to help our nation’s small businesses and the Americans they employ survive the COVID-19 pandemic,” Rubio said. “Today, Senators Tim Scott, James Lankford, and I are offering our colleagues a chance to once again prioritize our nation’s more than 30 million small businesses and their employees by committing to not increase taxes on them during a pandemic. It is clear that Democrats in Congress intend to pursue a radical agenda full of left-wing priorities, but it is common sense to ensure small businesses do not face tax hikes while they are struggling to keep their doors open during this public health crisis.”
“Millions of small businesses have closed their doors during this pandemic, and thousands more are on the verge of shuttering,” Scott said. “Our responsibility is to ensure these job creators keep their doors open and keep their employees paid. Raising taxes on small businesses would do the exact opposite and devastate Main Streets from Saluda to Springfield.”