Europe Asia News

The White House issued a statement on the effects of President Trump’s tax policies on small businesses.

The statement said tax benefits provided under the “Working Families Tax Cuts” are helping small businesses hire employees, increase wages, purchase new equipment and expand their operations.

Citing an assessment by Americans for Tax Reform, the White House said small businesses across the United States are benefiting from the tax advantages provided by the measures.

Alaska Brewing Company co-founder Geoff Larson said the small business deductions in the measure allow his company to continue its sustainable production and innovation efforts, while 1920 Tavern owner Jenna Aronowitz said the tax savings help small businesses like hers “revitalize the American dream.”

The statement included assessments from some business owners who said the tax measures enabled them to upgrade equipment, increase staffing, raise wages, invest in new technologies and expand their operations.

The White House also argued that the 20 percent tax deduction for small businesses and the ability to fully expense certain investments under the measure support businesses’ decisions on growth, employment and investment.