MSCI Continues To Oppose Tax Increases In Build Back Better Plan
While negotiations regarding President Joe Biden’s Build Back Better (BBB) plan appear stalled, the White House and Democratic congressional leaders have pledged to revive the legislation.
As Connecting the Dots readers are aware, MSCI opposes the tax increases that so far have been considered to pay for the BBB. Last week, we continued our advocacy to Congress on this topic, joining the S-Corp Association and more than 90 other trade associations in a letter that asked lawmakers to end their efforts to pass the BBB and shift their focus to address the pressing issues confronting American families and businesses, including rising prices, labor shortages, and supply chain disruptions.
The letter said, “Raising taxes on America’s family businesses in this environment moves us in the wrong direction. Recent estimates show that more than $500 billion of the Build Back Better’s cost will be shouldered by family businesses and the bill would impose top rates on these businesses exceeding 50 percent. As with increased spending, voters believe these tax increases will be inflationary.”
Read the full letter here. MSCI is grateful to its partners at the S-Corp Association for organizing these efforts.