Dear BPAA Members,
As you may know, Congress is in the middle of the largest federal tax overhaul since 1986. More than three decades have passed since our nation modernized its tax system, and Congress is working tirelessly to put a bill on President Trump’s desk before the end of this year. However, we fear that Congress does not have BPAA members and small businesses across the country in mind regarding interest deductibility.
On November 16th, the U.S. House of Representatives passed their tax reform bill, the “Tax Cuts and Jobs Act.” Their bill puts a cap on the amount of interest a business can deduct. On November 16th, the Senate Finance Committee passed their bill, which will be considered by the full Senate the week of November 27th. We need you to take action.
Please see the sample letter attached to this email. We encourage you to input your information as indicated and send this letter to your U.S. Representative and Senators to urge them to protect full interest deductibility. If you don’t know the address or contact information of your representatives, please follow the links below.
As a bowling proprietor and small business owner, it is crucial that you have the ability to completely deduct interest on loans. If Congress follows the House version, it will have a negative effect on small businesses across the country. Let’s not miss our shot while we still have the chance.
Click here to find your Representative: http://www.house.gov/representatives/find/
Click here to find your Senator: https://www.senate.gov/senators/contact/