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Congresswoman Suzan DelBene

Representing the 1st District of Washington

House GOP Tax Plan Would Allow Small Business Interest Deductions

Jul 13, 2017
In The News

The House Ways and Means Tax Policy Subcommittee is “actively working” on provisions to allow small businesses to deduct the interest they pay on debt, Chairman Peter Roskam (R-Ill.) said.

The provision would be a change to the House GOP tax reform plan, which would eliminate the ability of companies to deduct the interest on their loans but allow them to write off all business expenses. The current tax code already allows many small businesses to deduct both business investments and interest expense.

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