House Republican Proposes Small-business Tax Cut to Pair with GOP Federal Budget Package

Rep. David Kustoff, a Republican member of the House committee that writes tax policy, introduced a bill Tuesday to lower taxes on small businesses in a bid to add tax policy to the  GOP Homeland Security funding effort.

The Tennessee lawmaker first shared the bill with CNBC. It would increase the qualified business income deduction for noncorporate business owners to 23 percent, up from the 20 percent that was adopted as part of President Donald Trump's 2017 overhaul of the U.S. tax code.

"This bill is good policy. It benefits small businesses across the country. It benefits family farms," Kustoff, a member of the House Ways and Means Committee, said in an interview with CNBC.

Please select this link to read the complete article from CNBC.