Mike Valdes-Fauli: Pass small business tax cuts now – Florida Politics (blog)
But with a few long-overdue improvements to America’s unfair tax code, Congress can ensure that small businesses give Americans more bounteous returns on all their hard work.
As the president and CEO of Pinta, a full-service marketing agency with clients including Amazon, Humana, McCormick, NFL and T-Mobile, I can attest to the challenges of running a startup, scaling to competitive levels and making payroll. It’s what small business does every day for Americans of all kinds on Main Street. Nationwide, Florida is a top-three state for minority and African-American small business ownership. In the Miami area, we boast similar numbers for Hispanic ownership.
Small firms are so prevalent here that they make up about 90 percent of the whole economy in southern Florida. Statewide, roughly half of our 6 million workers are employed by small business. Why would we ignore the unique needs of such a critical element of our society?
The outsized importance of Florida small business is reflected in the priorities of all branches of our state government. Gov. Rick Scott has been a small business champion, supporting a $180 million tax cut package the state Legislature wisely passed into law earlier this year.
Floridians are uniquely aware that small businesses need all the help they can get: While no business owner wants to shrink their business, nearly half of South Florida’s small businesses don’t last more than five years.
How can such a large sector of our economy experience such instability? The culprit is hiding in plain sight. It’s the outdated tax code. Burdensome tax