Extended Tax Cuts Could Impact Small Businesses

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Extended Tax Cuts Could Impact Small Businesses

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By Jon Berg - email

On Monday President Obama proposed to extend tax cuts for those making less than $250,000.

Senator John Hoeven says that the proposal would mean raising taxes for not only many individuals, but small businesses as well.

One of those businesses that could be impacted is Ace Hardware.

"This is not a Republican or Democrat thing this is a simple understanding of business, we have a business, we borrowed money to be here we have to make payments and my fear is that we're looking at a tax system that makes it very difficult to make those payments," Jeff Hintz with Ace Hardware said.

Hintz says every dime that comes out is another person that won't get hired, growth that won't happen and perhaps another store he won't build.

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