Small-business group backs Brady's tax bill amendment

Small-business group backs Brady's tax bill amendment
© Greg Nash

The National Federation of Independent Business (NFIB) expressed support for the amendment from Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyRyan pledges 'entitlement reform' in 2018 Senate approves motion to go to tax conference Overnight Finance: GOP delays work on funding bill amid conservative demands | Senate panel approves Fed nominee Powell | Dodd-Frank rollback advances | WH disputes report Mueller subpoenaed Trump bank records MORE (R-Texas) after opposing the initial version of the tax-reform bill.

“We are very grateful to Chairman Brady for listening to our concerns and working with NFIB to ensure that tax reform benefits the greatest possible number of American small business owners," NFIB President Juanita Duggan said in a statement.

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"This amendment would create substantial tax relief for millions of small business owners who were left out of the original bill. We urge Republican and Democratic members of the House to support this amendment going forward.”

Brady's amendment would create a new 9-percent tax rate for the first $75,000 of income of a married active owner who has less than $150,000 of "pass-through" business income.

The original bill would have had a 12 percent tax rate.