Pioneer Institute Makes Recommendations for Helping Small Businesses

The Pioneer Institute released a paper examining ways to save small businesses during the COVID-19 recovery period, calling for expanded tax deductions and tax credits on capital purchases, inventory purchases, and COVID-19-related spending; the use of federal tax credits to encourage consumers to support businesses in industries that have been most affected by the pandemic, including brick-and-mortar retailers and independent restaurants; the reduction or elimination of state corporate taxes that unfairly burden small businesses; and the enactment of a nationwide rent relief program for small businesses.