Joint Letter Opposing Efforts to Increase Income Tax Rates

ICBA and other groups sent a letter to House Ways and Means Committee Chairman Jason Smith (R-Mo.) and Senate Finance Committee Chairman Mike Crapo (R-Iowa) encouraging them to stand strong against any effort to increase income tax rates, including recent proposals to raise the top individual rate to 40 percent.

ICBA and the other groups said this idea would disproportionately harm hundreds of thousands of pass-through businesses organized as S corporations, partnerships, and sole proprietorships.