Arizona Republican Rep. Andy Biggs introduced a bill on Tuesday to protect small business owners from the Biden administration’s failed economic policies.
The Small Business Prosperity Act, a reintroduced version of the congressman’s previous bill, continues Biggs’ longstanding efforts to protect small business owners from the negative economic policies under President Joe Biden’s leadership.
“There are over 30 million small businesses in the United States,” Biggs wrote in a statement.
“These enterprises are the backbone of the American economy, and they dominate the landscape of the East Valley. The more money our Main Street Business owners are able to keep in their own pockets, the better able they will be to expand their operations and hire more workers—it is as simple as that. My legislation will ensure that businesses will not be hurt by the damaging economic policies of the Biden Administration,” he added.
The Small Business Prosperity Act specifically addresses three key areas impacting America’s entrepreneurs. First, the bill “lowers the maximum tax rate on small business revenue to 21 percent — the same low rate that major multinational corporations have been benefiting from since 2018,” according to Biggs’ statement.
Second, the new bill “allows business owners full flexibility to change the structure of their companies … without incurring a tax penalty.”
Third, the act would eliminate the estate tax, which Biggs argues should more accurately be labeled the “death tax,” “since it frequently forces the families of deceased small business owners to forfeit the fruits of a generation’s worth of hard work.”
In a Twitter post on Tuesday, Biggs added, “These enterprises are the backbone of the American economy.”
Biggs also recently attacked the Biden administration regarding the ongoing baby formula shortage.
“The Biden Administration’s open border policies have created a humanitarian crisis that is diverting limited resources to the border,” he tweeted. “This Administration continues to put Americans last. It’s shameful.”
The reintroduced act comes just days after Biggs unveiled his America First Contract to outline a plan for countering the harmful policies of Democrats. The plan, following the pattern of Newt Gingrich’s 1994 Contract with America, focuses on eight pillars, including reducing inflation and securing the border, among other areas.
“America has had enough of the disastrous leftist policies of the Biden Administration. Our nation is in desperate need of a new action plan for Republicans to follow in January. We need an affirmative, positive platform that will advance America First policies and roll back Biden Administration initiatives that have harmed our country. We have to stand up to the Biden Administration and stand up for the American people,” Biggs said regarding the contract.
This is an excerpt from The Daily Wire.
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