VP Biden: Obama’s tax plan would benefit LLCs, all small businesses

Vice President Joe Biden has said the proposed tax changes in 2011 will keep taxes low for 98 percent of Americans, and believes a small business stimulus bill will help many entrepreneurs forming an LLC.

Visiting a Washington D.C. pizzeria this week, Biden reinforced President Barack Obama’s commitment to keeping taxes low for small businesses. Over lunch at Pete’s New Haven Style Apizza, Biden noted that extending the Bush-era tax cuts for the wealthiest 2 percent of Americans would give $300,000 per year to families already earning more than $8 million annually.

Obama’s plan would only increase taxes on families earning more than $250,000 per year, which Biden pointed out is fewer than 2 percent of U.S. households.

Biden said the tax cuts should go to families and small businesses struggling to recover from the recession.

The Bush-era tax cuts are set to expire at the end of 2010. Coalitions of some of the largest companies in the U.S., including Walmart and Lockheed Martin, and the U.S. Chamber of Commerce will spend more than $75 million on the November elections in an effort to keep the tax cuts for the wealthiest Americans.ADNFCR-3052-ID-19933873-ADNFCR

Melissa Clark
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Melissa Clark

Head of Content & Customer Marketing at Incfile
Melissa sets the vision for Incfile's content marketing and customer relationship management. Melissa has more than 10 years experience in various marketing roles, and a passion for supporting small businesses as they incorporate and grow. She loves sharing information that will help business owners maximize their LLCs, Corporations and Nonprofits. In her spare time, Melissa is an active member of The Junior League and enjoys running half marathons.
Melissa Clark
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