AAMA and their advocacy team at Dentons will be heading to Washington, D.C., next month from June 12-13 to meet with congressional representatives. The association will meet that Wednesday at the Dentons office for a briefing followed by a group dinner.
Thursday, June 13, will be the day full of meetings. One of the key talking points for AAMA will include lobbying to make the Small Business Deduction permanent. “We will encourage Congress to pass the Main Street Tax Certainty Act. Failure to do so will result in increased taxes for over 30 million small business owners.”
The association is also in support of the Credit Card Competition Act, which aims to create competition within the credit card network marketplace. “Small business owners are forced to pay swipe fees as high as 3-4% per transaction,” they explained. “Given the lack of competition in the marketplace, the mega-banks who set these fees have no incentive to reduce them.”
Another focus will be on encouraging Congress members to consider the impact on small businesses before any new regulations are placed. “In this atmosphere of inflation and rising costs, we oppose the Department of Labor’s April 23, 2024, rule change of the overtime exemption threshold for managerial workers,” the association stated. “We support delaying the filing deadlines of the Corporate Transparency Act by passing S. 3635, (the Protect Small Business and Prevent Illicit Financial Activity Act).”
Click here to register for the trip or contact the association’s executive Pete Gustafson ([email protected]) for more information.