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| U.S. Chamber Action |
| Stand Up for Free Enterprise |
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| TODAY'S EDITION |
- Remembering Tom Donohue’s legacy of leadership on behalf of the business community and American free enterprise.
- Small business owners tell Congress they need smart tax policies that foster economic growth.
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| Remembering Thomas J. Donohue |
| He gave business a seat at the table and a voice in the debate in a way it never had before. |
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The U.S. Chamber, the American business community, and our nation mourn the passing of former CEO Thomas J. Donohue. Throughout his extraordinary life, Tom was many things—friend, mentor, statesman, storyteller, fighter, advocate, and patriot. Above all else, he was a dedicated family man, and our thoughts and prayers are with his loved ones.
As a business leader, Tom was a towering figure, and across his decades-long career, his Irish toughness, combined with his genuine compassion, made him an impactful voice in Washington and around the world. He gave business a seat at the table and a voice in the debate in a way it never had before. |
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| To honor Tom’s life and legacy, Nasdaq displayed the attached image on its tower. (Photo courtesy of Adena Friedman, Chairman and CEO of Nasdaq) |
In 1997, Tom took the wheel of the U.S. Chamber. He took the institution from good to great and from productive to powerful—and standing up for business from the nation’s capital to every corner of the globe. He never backed down from a fight that was necessary for a cause he believed in, leading the American business community and building the Chamber into the largest and most effective business organization in the world. He did it with high energy and absolute integrity, always keeping his promises and keeping his word. Tom’s mantra was simple: "If you can, you must."
Tom would often say that to serve the business community was to serve our country, and he did it with distinction. Like Tom himself, the spirit of enterprise is strong, it is fearless, and it is enduring—bigger than any of us, and yet a reflection of the best in all of us. Tom Donohue will be deeply missed, but his legacy lives on as we carry that spirit forward. |
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| Small Business Goes to Washington |
| Entrepreneurs urge Congress to champion tax policies that support growth |
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What’s happening: The Chamber’s Growing America’s Future Campaign calls for competitive, pro-growth tax policies to grow the economy, raise wages for workers, and improve Americans’ standards of living.
The latest: In October, the U.S. Chamber’s Small Business Council convened in Washington, D.C., where they met with Congressional offices to discuss how upcoming tax decisions could affect small businesses across the country.
On the agenda: Here's what small business owners shared with Congress:
- Maintaining the 20% pass-through tax deduction is crucial because it gives small businesses extra funds to reinvest in their employees and operations.
- A lower corporate tax rate benefits small businesses since many of them are suppliers to large companies.
- Allowing research and development (R&D) expenses to be deducted helps small businesses invest in new technology and their teams.
Why it matters: Lawmakers have a chance to craft tax policies that foster growth and help businesses thrive. This is particularly important as certain key tax benefits are set to expire in 2025, potentially resulting in significant tax increases.
What they said:
- Mike Zaffaroni, owner of Liberty Landscape Supply in Jacksonville, Florida: “Whether it is the ability to deduct capital purchases immediately, savings from the 20% pass-through deduction, or R&D expensing—all of these things are helping us grow.”
- Traci Tapani, co-president of Wyoming Machine Inc. in Stacy, Minnesota: “There's an ecosystem of large and small companies that all work together to supply the products that are made in the United States. A tax code that's competitive for all of us supports the industry and helps manufacturing in the U.S. grow.”
- Victoria Thomas, CFO and co-owner of Kellymoss in Madison, Wisconsin: “A competitive tax code is particularly important for us because, since 2017, we have grown from 24 employees to 130. What that takes in terms of infrastructure, capital equipment, and general investment in our company to be able to sustain that growth, it's absolutely not possible if we end up losing that tax advantage.”
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| Stand Up for Free Enterprise |
| Your voice is essential, and your participation is critical. |
American free enterprise is under threat from those who want to replace it. If they succeed, it could limit your potential, stifle growth, and undermine our future.
Please share this email with five friends or colleagues to learn how you can help us defend free enterprise. |
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