BREAKING: Joint Tax Committee:<br> One-Third of Surtax Revenue<br> Will Come from Small Employers
Americans for Tax Reform has obtained a copy of private correspondence between the Joint Tax Committee and Congressional staff.
The key piece of news is that the JCT--the official Congressional tax scorekeeper--has said that one-third of the tax revenue raised by the 5.4 percent surtax in H.R. 3962 will come out of the bank accounts of small business employers.
Not "the rich." Not someone else. Main street small businesess, who employ one out of every three Americans with a job.
This is consistent with our analysis earlier this week that the surtax will be assesed on 57 percent of partnership and S-corporation profits.