skip to main content
skip to newscasts

Wednesday, September 18, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Medical copays reduce health care access in MS prisons; Israel planted explosives in pagers sold to Hezbollah according to official sources; Serving looks with books: Libraries fight 'fast fashion' by lending clothes; Menhaden decline threatens Virginia's ecosystem, fisheries.

view newscast page
play newscast audioPlay

JD Vance calls for toning down political rhetoric, while calls for his resignation grow because of his own comments. The Secret Service again faces intense criticism, and a right to IVF is again voted down in the US Senate.

view newscast page
play newscast audioPlay

A USDA report shows a widening gap in rural versus urban health, a North Carolina county remains divided over a LGBTQ library display, and Minnesota Governor Tim Walz' policies are spotlighted after his elevation to the Democratic presidential ticket.

Group Warns AZ Small Businesses of Possible Tax Hike

play audio
Play

Monday, April 17, 2023   

Tax day is tomorrow, and the National Federation of Independent Business is warning Arizona small businesses of what the group called "unprecedented tax hikes" as part of President Joe Biden's proposed 2024 budget.

Kevin Kuhlman, vice president of federal government relations for the National Federation of Independent Business, said one of the taxes the president's budget wants to expand is called the net investment income tax. It could mean businesses with an income above $400,000 could pay 5% on their total earnings instead of the current 3.8%. Kuhlman argued it could negatively impact small businesses, particularly in Arizona, where he noted they make up the majority of establishments throughout the state.

"This small business surtax would hit small businesses, let's say that are recovering from COVID and trying to expand their businesses," Kuhlman contended. "It would cut into cash flow."

Kuhlman emphasized having diminished cash flow means fewer business investments, fewer increases in wages as well as less job creation.

According to the latest jobs report from the NFIB, 43% of small business owners are struggling to fill positions.

President Biden has said the tax hikes are targeted at businesses and high-income individuals in an effort to close "tax loopholes" the wealthy have benefited from.

Kuhlman countered coming out of the COVID-19 pandemic, inflation and workforce shortages "persist." He added inflation has been especially problematic in Arizona, which had the highest rate of all 50 states, and is also concerned about future "economic headwinds."

"The expectation for better business conditions in the future are near historic lows," Kuhlman asserted. "We have these very concerning economic headwinds, so any tax increase would compound those problems and really make the forecast for the economy extremely problematic."

Kuhlman stressed the president's budget proposal is the "opening bid" in the negotiation for the national debt ceiling increase, which is expected to happen later this year.


get more stories like this via email

more stories
Including the $236 million in federal funding for wildland fire management recently announced for 2025, the Bipartisan Infrastructure Law has invested a total of $1 billion to the cause, according to the Department of the Interior. (Adobe Stock)

Environment

play sound

This month, the federal government announced funding for next year's wildfire management, totaling $236 million and experts hope threatened …


Social Issues

play sound

From gubernatorial candidate Mark Robinson to Superintendent of Public Instruction hopeful Michele Morrow, some Republicans running for office have …

Social Issues

play sound

California is home to more than 181,000 people who are unhoused, with 75,000 in Los Angeles alone, so the Los Angeles Food Policy Council will host a …


The California Department of Conservation is holding a public meeting online on Sept. 24, to update the public on its progress in plugging abandoned oil wells. (Alizada Studios/Adobe Stock)

Environment

play sound

Groups concerned about pollution and climate change are asking Gov. Gavin Newsom to sign a trio of bills dubbed the "make polluters pay" package…

Social Issues

play sound

This week, National Voter Registration Day was another timely reminder for Ohioans preparing for the 2024 general election. The latest reports from …

The American Heart Association said caregivers often experience personal and spiritual growth, discovering their own resilience, competence and capacity for sacrifice as they help a friend or loved one. (Justlight/Adobe Stock)

Health and Wellness

play sound

September is Self-Care Awareness Month and the American Heart Association in Missouri is urging caregivers to take some much-needed time for themselve…

Environment

play sound

In Virginia's waters, the decline of a small but critically important fish is causing growing concern among conservation groups and fishermen alike…

Social Issues

play sound

Colorado voters will decide whether to change the state's constitution to ensure families have school choice as a fundamental right. Kallie Leyba…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021