AmericanHort Supports Pro-Growth Tax Package to Benefit Main Street Businesses
AmericanHort joined more than 80 national associations in signing a letter to House Ways and Means Chairman Jason Smith (R-MO-8) in support of the budget reconciliation tax package scheduled for markup this week. This legislation includes several provisions that would benefit horticulture and other Main Street businesses, such as permanently increasing the Section 199A deduction to 23%, maintaining a competitive top tax rate for pass-through entities, and strengthening estate tax exemptions to help preserve family-owned operations. We also supported the bill’s pro-growth incentives, like restoring full expensing and improving treatment of R&D expenses, that will help businesses invest, grow, and remain competitive. While we noted areas for improvement, including the overly complex SALT deduction limitations, we encourage Congress to act swiftly to provide clarity and certainty for America’s small and family-owned businesses.