Miller Participates in Ways and Means Hearing on the Need to Make Trump Tax Cuts Permanent
January 14, 2025
Washington, D.C. – Today, Congresswoman Carol Miller (R-WV) participated in a Ways and Means Committee hearing on the need to make the Trump Tax Cuts permanent for working American families, farmers, and small businesses.
Image
Congresswoman Miller began by saying the Trump Tax Cuts should be reauthorized permanently and gave an example of a successful West Virginia company that utilizes the 199A small business deduction.
“I don’t think there is a more appropriate way to kick off the 119th Congress, and the Republican leadership [in D.C.], than to discuss the great success of the 2017 Trump Tax Cuts. I’m thrilled that we have a strong leader [in President Trump] who understands business and the economy. American voters have given Republicans a mandate to make permanent the great work that was accomplished in 2017.”
“I’m a West Virginian, we know small business because 98.9 percent of businesses in my home state are considered small businesses. The 199A small business deduction created in the Trump Tax Cuts was transformational for the hardworking small business owners in my district. The small business deduction allows pass-through entities to receive a tax rates comparable to larger corporations, allowing small businesses to stay competitive and to reinvest in their employees and their communities. Last year, we had Michael Ervin, the founder and CEO of Coal River Coffee Company in Charleston, West Virginia come and testify before this committee about how his business has been able to utilize benefits from this deduction. This business has been able to provide raises and promotions, purchase new equipment for label making [and design], and train new coffee roasters. They were also recognized with the 2024 Small Communities Big Solutions award for revitalizing communities across West Virginia. This type of growth helps small businesses level the playing field with bigger corporations – and is happening all over my state. Workers and businesses alike are much better off because of the 199A [small business deduction], and I look forward to extending this policy as part of our efforts this next year,” said Congresswoman Miller.
Congresswoman Miller proceeded to highlight the legal problems and burdens that the IRS’ 1099-K threshold requirements have placed on Americans. She then asked Alison Couch, owner of Ignite Accounting and Business Advisors, to describe the challenges taxpayers have had complying with the uncertainty created by the Biden administration.
“Not only does Congress have the opportunity to make permanent the 2017 Trump tax cuts this year, but we also have the opportunity to provide additional relief for working-class Americans that were harmed by President Biden’s disastrous economic policies. One such policy was the 1099-K reporting threshold. In the misnamed American Rescue Plan Act, the 1099-K reporting threshold was changed from the time tested standard of $20,000 over 200 transactions to $600 over a single transaction. As a result, Americans using eBay or Etsy to sell or resell products, or Venmo to collect rent, are considered small businesses and will be sent 1099-K forms this upcoming tax year. Since this disastrous policy was signed into law, the Biden administration’s IRS twice delayed implementation and last year illegally changed the thresholds without Congressional authority – all because they knew how catastrophic the policy would be for average Americans and gig workers. My bill, the Saving Gig Economy Taxpayers Act, to restore the 1099-K threshold to pre-ARPA levels was cosponsored by all Republican members of this Committee and favorably passed out of Committee last Congress. I look forward to again introducing legislation to fix this problem that the Biden administration created – and provide relief to working-class Americans. Ms. Couch, you help small businesses and individuals understand these onerous 1099-K reporting requirements. Can you speak to how difficult it has been for taxpayers to understand these new thresholds amidst all of the uncertainty from the Biden administration?” asked Congresswoman Miller.
“[The 1099-K] thresholds requirements are very burdensome for small business owners who already have a lot of compliance requirements that they must do on a regular basis. There will be confusion in our industry that folks won’t understand the difference between personal and business payments through Venmo vs payment to small business owners. There’s the potential for people to receive 1099-Ks who should not be receiving them. We would like to see the threshold move the opposite direction of where they’re headed now, and we appreciate your work and bill to help small business owners on this matter,” responded Ms. Couch.
“I don’t think there is a more appropriate way to kick off the 119th Congress, and the Republican leadership [in D.C.], than to discuss the great success of the 2017 Trump Tax Cuts. I’m thrilled that we have a strong leader [in President Trump] who understands business and the economy. American voters have given Republicans a mandate to make permanent the great work that was accomplished in 2017.”
“I’m a West Virginian, we know small business because 98.9 percent of businesses in my home state are considered small businesses. The 199A small business deduction created in the Trump Tax Cuts was transformational for the hardworking small business owners in my district. The small business deduction allows pass-through entities to receive a tax rates comparable to larger corporations, allowing small businesses to stay competitive and to reinvest in their employees and their communities. Last year, we had Michael Ervin, the founder and CEO of Coal River Coffee Company in Charleston, West Virginia come and testify before this committee about how his business has been able to utilize benefits from this deduction. This business has been able to provide raises and promotions, purchase new equipment for label making [and design], and train new coffee roasters. They were also recognized with the 2024 Small Communities Big Solutions award for revitalizing communities across West Virginia. This type of growth helps small businesses level the playing field with bigger corporations – and is happening all over my state. Workers and businesses alike are much better off because of the 199A [small business deduction], and I look forward to extending this policy as part of our efforts this next year,” said Congresswoman Miller.
Congresswoman Miller proceeded to highlight the legal problems and burdens that the IRS’ 1099-K threshold requirements have placed on Americans. She then asked Alison Couch, owner of Ignite Accounting and Business Advisors, to describe the challenges taxpayers have had complying with the uncertainty created by the Biden administration.
“Not only does Congress have the opportunity to make permanent the 2017 Trump tax cuts this year, but we also have the opportunity to provide additional relief for working-class Americans that were harmed by President Biden’s disastrous economic policies. One such policy was the 1099-K reporting threshold. In the misnamed American Rescue Plan Act, the 1099-K reporting threshold was changed from the time tested standard of $20,000 over 200 transactions to $600 over a single transaction. As a result, Americans using eBay or Etsy to sell or resell products, or Venmo to collect rent, are considered small businesses and will be sent 1099-K forms this upcoming tax year. Since this disastrous policy was signed into law, the Biden administration’s IRS twice delayed implementation and last year illegally changed the thresholds without Congressional authority – all because they knew how catastrophic the policy would be for average Americans and gig workers. My bill, the Saving Gig Economy Taxpayers Act, to restore the 1099-K threshold to pre-ARPA levels was cosponsored by all Republican members of this Committee and favorably passed out of Committee last Congress. I look forward to again introducing legislation to fix this problem that the Biden administration created – and provide relief to working-class Americans. Ms. Couch, you help small businesses and individuals understand these onerous 1099-K reporting requirements. Can you speak to how difficult it has been for taxpayers to understand these new thresholds amidst all of the uncertainty from the Biden administration?” asked Congresswoman Miller.
“[The 1099-K] thresholds requirements are very burdensome for small business owners who already have a lot of compliance requirements that they must do on a regular basis. There will be confusion in our industry that folks won’t understand the difference between personal and business payments through Venmo vs payment to small business owners. There’s the potential for people to receive 1099-Ks who should not be receiving them. We would like to see the threshold move the opposite direction of where they’re headed now, and we appreciate your work and bill to help small business owners on this matter,” responded Ms. Couch.
###
Issues:Economy