During Small Business Week, Congressman Langworthy Tours Local Businesses in Lancaster; Calls on Senate to Pass Bipartisan Tax Relief Bill

LANCASTER, N.Y. – Today, Congressman Nick Langworthy (NY-23) toured a number of local businesses in the Village of Lancaster, talking to owners and employees about the challenges these businesses face under unrelenting inflation and the Biden Administration’s burdensome regulations. Rep. Langworthy highlighted pro-growth solutions, namely the bipartisan Tax Relief for American Families and Workers Act, which passed the House in January and has since been stalled in the Senate.

“Right now, small businesses in Western New York and the Southern Tier face a myriad of challenges every day due to the Biden Administration's misguided policies and crushing inflation,” said Congressman Langworthy. “Speaking with small business owners in Lancaster, it’s clear that the House’s bipartisan tax plan would give them the relief they need to invest in their businesses, create jobs, and spur economic growth across our region. While this bill institutes important new reforms and cuts Biden’s bureaucratic red tape, it also solidifies the Trump-era tax cuts that small businesses can’t afford to lose. That’s why I’m calling on the Senate to prioritize the bipartisan Tax Relief for American Families and Workers Act and give hardworking Americans the boost they need to succeed.”

Congressman Langworthy visited Gabrielle’s Bakery, Bloomsbury Lane Toy Shoppe, West Main Jeweler, Lilly Belle Meads Brewery, the New York Store, and the Olive Tree restaurant. The Congressman was joined by County Legislator Frank Todaro and Town Supervisor Bob Leary, and the Lancaster-Depew-Elma Chamber of Commerce led the visits. Congressman Langworthy grew up working at his father’s small business and, from an early age, learned first-hand the dedication and passion it takes for a small business owner to be successful.

Key Background:

The Tax Relief for American Families and Workers Act is themost significant non-emergency tax package in nearly a decade and expands the Trump-era tax cuts that were part of the Tax Cuts and Jobs Act, which is set to expire in December 2025.

The Tax Relief for American Families and Workers Act builds on current tax policy to expand innovation opportunities, create jobs, and sharpen America’s competitive edge in key ways:

• Research & Development (R&D) expensing will allow businesses of all sizes to immediately deduct the cost of their U.S.-based R&D investments instead of over five years – encouraging American innovation and improving our competitive position versus China and the rest of the world.
• Interest deductibility for continued flexibility for businesses forced to borrow at higher interest rates to meet their payroll obligations and expand their operations. 
• One hundred percent expensing to restore full and immediate expensing for investments in machines, equipment, and vehicles. 
• Expand the small business expensing cap by increasing the amount of investment that a small business can immediately write off to $1.29 million, an increase above the $1 million cap enacted in 2017. 
• Cut red tape for small businesses by adjusting the reporting threshold for businesses that use subcontract labor from $600 to $1,000 and index for inflation – the first update to the threshold since the 1950s.