AIA Disapproves of Small Business Tax

Washington – The American Institute of Architects expressed its appreciation for the Senate’s decision to table a proposal to hike taxes on small businesses who file as so-called Subchapter S Corporations, many of whom are architects.

The S Corp. tax hike proposal has recently surfaced as part of an effort to find replacement revenue for money lost to the federal government if Congress keeps the current 3.4 percent student loan interest rate, which is set to increase to 6.4 percent on July 1. The AIA has expressed support for efforts to reduce student debt burdens.

“We appreciate the Senate’s move to table this proposal, which never made much sense to us as it would have raised taxes on job creators and in turn made it more difficult to hire college graduates in the first place. We urge Congress now to come together and find a more equitable solution to keeping student loan rates low," says AIA President Jeff Potter, FAIA.

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