ADA supports House tax relief measures
September 28, 2018
— In continuing efforts to ensure tax relief for dentists, the ADA is supporting legislation that calls for several small business tax cuts.
In a Sept. 26 letter to House Speaker Paul Ryan, R-Wis., Majority Leader Kevin McCarthy, R-Calif., and Majority Whip Steve Scalise, R-La., the ADA praised the leaders for HR 6760, the Protecting Family and Small Business Tax Cuts Act of 2018. The House passed the bill Sept. 28.
The Tax Cuts and Jobs Act — passed in late 2017 — included several provisions the ADA has long supported: increasing Section 179 expensing, maintaining the cash method of accounting and providing small business dentists with tax relief on their pass through incomes. HR 6760 would make those tax cuts permanent.
Although improvements to provisions within TCJA can be "modified to better support dentists and their businesses," ADA President Joseph P. Crowley and Executive Director Kathleen T. O'Loughlin told legislators that the ADA is encouraged by the House's continued progress on passing HR 6760. They also said the ADA also supports HR 6757, the Family Savings Act of 2018 and HR 6756, the American Innovation Act of 2018.
"As you may know, one dental office contributes an estimated $1.7 million dollars annually to the economy, and the dental industry overall has an economic impact of $272 billion," wrote Drs. Crowley and O'Loughlin. "The ADA will continue to support legislation and tax policies that will benefit our members, their businesses and their patients."
Follow all of the ADA's advocacy efforts at ADA.org/advocacy