Small business leaders are calling on Congress to support tax cuts for the middle class. Over coffee and pastries, two small business owners voiced their support for higher taxes on those making over $250,000. Fabio Sorano, an owner of a bakery and coffee shop in Chicago, says he has yet to meet a small business owner who makes over $250,000 per year.
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“If we have to choose between tax cuts for the rich or for the middle class, it’s the regular people that patronize my bakery and keep ‘my economy’ going,” Sorano said. He says tax cuts for his middle class customers would allow them to keep patronizing his shop. Tom Peters, owner of a job training facility in Skokie, agrees that small businesses wouldn’t be hit if lawmakers settled on the $250,000 mark. “It’s very vital for them to extend those tax cuts and ultimately, for some individuals, especially those that we deal with, it could be the difference between making a monthly payment or utility payment in a given month,” Peters said.
Citizen Action Illinois, which brought Sorano and Peters together to express their views, says 97 percent of small business owners don’t earn over $250,000 and wouldn’t be negatively affected by the president’s proposal to extend tax cuts for the middle class and let tax cuts for the wealthy expire.