November 14, 2017

MarketWatch: Elizabeth Warren: Republican tax plan will hurt small businesses and their customers

Liberal senator makes case that small business will be harmed by tax bill

Massachusetts Democratic Senator Elizabeth Warren told an audience on Tuesday that the Republican tax plan will force small business owners to subsidize big corporations and will harm the U.S. economy by reducing tax revenue for infrastructure that supports economic growth.

Warren spoke at an event sponsored by the Center for American Progress Action Fund. She asked a panel of small business owner members of the Main Street Alliance Action Fund, a national network of small business coalitions, what they need the most from tax reform.

"Tax fairness," responded Deborah Field, co-owner of Paperjam Press in Portland, Ore. "We need a thriving middle class. Tax fairness expands our customer base," said Field.

Warren agreed. "The tax plan can't be good for the economy if it's not good for small business," she told the audience, and then polled the panel on some of the popular large corporate tax avoidance tactics such as shifting billions of dollars of profits from the United States to a low tax jurisdiction like Ireland or Luxembourg.

Read more on the MarketWatch website here.