On Heels of Inflation News, PRINTING United Alliance Urges Congress to Shift Focus
On Wednesday, as news traveled across Capitol Hill that December’s consumer price index rose 7% (officially marking the third straight month in which inflation exceeded 6% – the fastest pace since 1982), PRINTING United Alliance and its allies in the business community issued a letter formally calling on Congressional leaders to end negotiations to pass the Build Back Better Act, which contains tax hikes and increased regulatory fees and penalties.
Instead, Congress should shift focus to more immediate economic concerns, namely: rising costs, labor shortages and ongoing supply chain challenges. This was the message delivered by PRINTING United Alliance and over 90 other trade associations representing a high concentration of S-Corp member companies. Specifically, the letter noted:
Today’s Consumer Price Index report showing inflation rising at the fastest rate in forty years has our members understandably alarmed. Rapidly rising prices are a serious challenge to businesses of all sizes as they make purchasing inventory, supplies, and inputs such as heat and electricity more expensive. In many cases, our members are unable to pass these higher costs on to their customers.
It goes on to say:
Raising taxes on America’s family businesses in this environment moves us in the wrong direction. Recent estimates show that more than $500 billion of the Build Back Better Act’s cost will be shoulder by family businesses [S-Corps] and the bill would impose top rates on these businesses exceeding 50%. As with increased spending, voters believe these tax increases will be inflationary.
The full letter can be read here.
Lisbeth Lyons is the Vice President, Government & Political Affairs at PRINTING United Alliance, the most comprehensive member-based printing and graphic arts association in the United States. PRINTING United Alliance members have exclusive access to preeminent education; training; workshops; events; research; governmental and legislative representation; safety and environmental sustainability guidance; and resources from the leading media company in the industry – NAPCO Media.
In this article, Lisbeth addresses the Build Back Better Act and its impact on S-Corps. More information about tax, regulatory and economic policy can be found at www.printing.org or reach out to Lisbeth should you have additional questions specific to how these issues may affect your business: llyons@printing.org.
To become a member of PRINTING United Alliance and learn more about how PRINTING United Alliance subject matter experts can assist your company with services and resources such as those mentioned in this article, please contact the Alliance membership team: 888-385-3588 / membership@printing.org.
Lisbeth Lyons is Vice President, Government & Political Affairs, PRINTING United Alliance, the largest, most comprehensive graphic arts trade association in the country. With more than 20 years of experience representing the voice of business on Capitol Hill, Lisbeth advocates for public policies that protect and advance the economic future of the printing and packaging industry. She oversees PRINTING United Alliance’s legislative, political, and grassroots advocacy initiatives, and has served in executive leadership of multiple successful advocacy campaigns, such as Coalition for Paper Options, Coalition for a 21st Century Postal Service, and Stop Tariffs on Printers & Publishers Coalition.
Prior to representing PRINTING United Alliance, Lisbeth served in similar roles at Printing Industries of America, US Telecom, and the National Federation of Independent Business. She also spent three years as a K-12 teacher in the Chicago Public Schools system, where she was on the forefront of urban education reform in the mid-1990s.
Lisbeth is Midwestern born and bred, having grown up in the St. Louis metropolitan area and attended college at DePauw University in Greencastle, Indiana, before starting her career in Washington, DC. She holds a B.A. in English/Sociology and a professional graduate certificate from The George Washington University School of Political Management. She lives in the historic Logan Circle neighborhood of Washington, DC.
An avid leader and learner in professional development, Lisbeth was a founding member of the Government Relations Leadership Forum, and is an active participant in organizations such as Council of Manufacturing Associations, Women in Government Relations, and National Association of Business PACs, among others. Lisbeth is often a featured speaker at premier industry conferences; she has spoken to Boards of Directors, corporate executive management teams, and state and regional trade associations across the country from coast to coast.
