On June 22, AGC along with over 100 other trade associations voiced their strong opposition to any attempts to roll back the 20 percent deduction for pass through businesses—S-corps, partnerships, limited liability companies—enacted in the Trump tax cuts under Section 199A of the federal tax code. Despite the opposition, Chairman Ron Wyden announced on July 20 that he would move forward with a bill to phase out Section 199A. AGC will oppose this bill that will increase taxes on small business construction companies.
For more information, please contact Matt Turkstra at matthew.turkstra@agc.org