CEA Testifies On Small-Business Taxes
The Consumer Electronics Association’s top government affairs official testified before Congress Thursday in favor of a bill that would simplify taxes for small businesses. Michael Petricone, the CEA’s senior vice president of government affairs, testified before the House Judiciary Committee, which is considering the Business Activity Tax Simplification Act (BATSA).
“Small businesses are the lifeblood of the U.S. economy, but these [income and franchise] taxes chill investment and violate the U.S. constitution by unduly burdening the free flow of interstate commerce,” Petricone said in his testimony. He added that member companies should not be taxed in states in which they do not do business. BATSA was introduced in the House by Democratic Rep. Rick Boucher and Republican Rep. Bob Goodlatte, both of Virginia. An identical Senate version has been introduced by Sens. Charles Schumer (D-N.Y.) and Mike Crapo (R-Idaho).
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