The Small Business & Entrepreneurship Council wants to make sure capital gains tax relief is part of the debate over federal tax reform.
The council called the capital gains tax a direct tax on entrepreneurship and investment.
“Taxing capital gains means reducing the resources available for and diminishing the incentives for undertaking the risky endeavors of starting up, operating and investing in a business,” argues Ray Keating, SBE’s chief economist.
Congress is expected to take up comprehensive tax reform in September. President Donald Trump has proposed a plan to simplify income taxes, cut the corporate tax rate and eliminate the estate tax, among other things.