Limiting interest deductibility will affect all business from small to large. Businesses use debt to finance investments, manage day-to-day expenses, and grow their companies.
A new tax targeting interest would harm the economy by raising costs on all businesses, which would reduce investment and growth in direct opposition to the goals of tax reform.
Businesses United for Interest and Loan Deductibility wants real, comprehensive tax reform, but altering a core component of the tax code that has enabled companies to grow and create jobs going back 100 years is not real reform.
Why Is Interest Deductibility Under Threat In 2017?
Tax reform is a top priority in 2017, and Congress is openly considering eliminating ID and replacing it with an expensing proposal that puts long-term growth at risk.