Miller Op-Ed: West Virginia Can't Afford a New Small Business Tax

Op-Ed

West Virginia small businesses have been through a lot over the last two years: pandemic closures, loss of sales, worker shortages, supply chain disruptions, skyrocketing inflation, and record high gas prices. Data from the National Federation of Independent Business shows that small business confidence is at a 48-year low. This is concerning, but not surprising. Traveling around my district, I hear from small business owners who are struggling to keep their doors open and the lights on. They're angry that failed policies mean they can't find workers and they're disturbed that President Biden's Washington is giving them nothing but problems.

As a defender of our small businesses, I was appalled last week to see Senate Majority Leader Chuck Schumer was teeing up a vote on a new small business tax to fund President Biden's agenda. That's right -- a brand new federal tax for small businesses. The proposal would be a significant tax increase for certain small businesses and is inaccurately being characterized by Senate Democrats as "closing a loophole.' Not a penny of Senator Schumer's new tax will be paid by large corporations.

Senate Democrats need to come to the conclusion that now is not the time to raise taxes on small businesses. As they grapple with record inflation, the highest in 40 years, we need to support our vulnerable employers, not burden them with more federal taxes. I'm sure many West Virginia small business owners and their employees would be happy to show that they already pay more than their fair share to Uncle Sam.

West Virginia small businesses are the backbone of our economy. Ninety-five percent of our state's businesses are small, representing nearly half of all West Virginia payroll. These businesses aren't using a loophole. They're hanging on by a thread, and they need our help. Now is not the time to throw a new small business tax at them. I hope all of my colleagues will join me in the fight for the survival of West Virginia's small business economy.

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