Ernst Pushes to Make Trump Tax Cuts Permanent for Small Businesses

Summary

A press release dated April 8, 2025 in which Chair Joni Ernst (R-Iowa) of the Senate Committee on Small Business and Entrepreneurship gives opening remarks at a joint hearing of that committee and the House Committee on Small Business. In the remarks Ernst argues that the Tax Cuts and Jobs Act of 2017 (TCJA) should be made permanent. She says that over 96 percent of small businesses are structured as pass-through entities, cites provisions such as bonus depreciation, business expensing and the R&D deduction, and says that expiration would mean another $4 trillion dollars in new taxes. The release reproduces her remarks in full.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

Title: Ernst Pushes to Make Trump Tax Cuts Permanent for Small Businesses
Date: 2025-04-08

Ernst Pushes to Make Trump Tax Cuts Permanent for Small Businesses

April 8, 2025

Read the release on Sen. Ernst's website HERE.

WASHINGTON – Today, at a joint hearing of the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship, Chair Joni Ernst (R-Iowa) delivered opening remarks on why Congress must keep taxes low to unleash prosperity on Main Street.

Ernst detailed how the Trump tax cuts must be made permanent to keep tax relief in place that fueled incredible growth and job creation during President Donald Trump’s first term.

Watch Chair Ernst’s full remarks here.

Ernst’s full remarks:

“Thank you, Chairman Williams. I appreciate your friendship and our ability to work together on behalf of America’s small businesses.

“I am glad that we can hold this joint hearing of our two committees today to examine an issue that impacts every small business in America.

“Eight years ago, working alongside President Trump, Congress passed the most significant simplification of our tax code in decades, the Tax Cuts and Jobs Act of 2017, otherwise known as the TCJA.

“The TCJA provided relief to every American, simplifying and reducing personal income taxes, and expanding important deductions used by small businesses across the country.

“These changes have allowed small businesses to thrive and contributed to the incredible growth we saw under President Trump’s first term, which led to strong real wage growth for workers, the lowest unemployment rate in 50 years, and annual GDP growth that reached 3 percent.

“These tax provisions have also allowed small business owners, including our witnesses today, to grow their businesses and reinvest in their communities and employees.

“But the reality is these gains are in jeopardy if Congress allows the TCJA to expire, and Americans would suffer the largest tax increase in history.

“Small business owners will be hit particularly hard if the TCJA expires, as over 96 percent of small businesses are structured as pass-through entities that benefit from the qualified business income deduction and the general reductions in personal income tax rates.

“The TCJA empowered small business owners to invest in themselves through provisions like bonus depreciation, enhanced business expensing, and the R&D deduction.

 “More importantly, the TCJA enabled small businesses to invest more in their employees. I’ve heard from small business owners all over Iowa who used that extra money to provide their workers with health insurance, parental leave, and retirement plans.

“I have also talked to small business owners who hired staff and expanded, but who would have to make hard decisions about who to keep if these cuts were to expire.

“When I talk to Iowans back home the message is clear – they can’t handle a tax hike.

“Workers are also concerned that if employers have to give more of their revenue to Washington, jobs and benefits will have to be cut, on top of the higher taxes they will pay due to individual rate hikes. The consequences are real to workers and their families.

“I also want to address a tax policy issue of particular concern to Iowans.

“The TCJA reduced the death tax, giving families the ability to keep their farms and businesses after a loved one’s passing. This change was particularly important in my state, preventing families from being forced to sell off farms or businesses that have been in theirs for generations.

“The bottom line is that America’s small businesses need the TCJA along with the certainty it provides.

“If we let the TCJA expire now, Americans and small business owners will be forced to shoulder another $4 trillion dollars in new taxes.

 “When small businesses grow, the American economy grows.

 “I strongly support making the TCJA permanent and will fight to ensure that the interests of small businesses continue to be a priority in this Congress.”

###

Permalink: https://www.sbc.senate.gov/public/index.cfm/2025/4/ernst-pushes-to-make-trump-tax-cuts-permanent-for-small-businesses

File and source

File

2025-04-08_ernst-pushes-to-make-trump-tax-cuts-permanent-for.txt

Size

4,373 bytes

SHA-256

b1bda516e4ac7198eb467c67b19bd6ad2c2a296f8600fa9f73fc8df6f21467ee

Our copy

2025-04-08_ernst-pushes-to-make-trump-tax-cuts-permanent-for.txt

Original

www.sbc.senate.gov