[20180209]IF10723_P、 L115-97、2017年税收修订和小企业税收.pdf

https:/crsreports.congress.gov Updated February 9, 2018P.L. 115-97, the 2017 Tax Revision, and Small Business TaxationSmall business owners have long been an influential player in domestic debates over tax policy. This role stems in part from the widely held view that small firms make uniquely valuable and substantial contributions to the U.S. economy. Current federal tax law contains a number of tax benefits (or preferences) that are only available to eligible small firms (as defined in each of the provisions). One of the key policy issues in the recent congressional debate over tax reform concerned how to tax small business income. The issue was particularly important for congressional proponents of reforming the federal tax code in order to simplify it, improve the codes equity effects, and remove barriers to faster economic growth. These objectives raised the question of whether small firms should continue to receive special tax treatment. Small business owners generally have agreed that their priorities for reforming the tax code are: (1) to lower the tax burden on small business income and the cost of tax compliance for all small firms, and (2) to establish parity between th