Corporate Tax

Resistance to corporate tax will increase

I’m Peter Guzman, President of the Latin Chamber of Commerce in Las Vegas. I am writing to express my contempt for the unnecessary and unproductive corporate tax hikes proposed in Congress. On behalf of the entire community of Hispanic business owners and entrepreneurs, I implore our members of Congress to consider the harmful effects of this legislation on the American working class.

Americans, especially those from working class and minority communities, have been battling the economic barriers imposed by COVID-19 and its associated lockdowns for well over a year. While the rising vaccination rate looks promising, the emergence of new variants and new shutdowns has made it clear that this battle is not over yet. Raising the corporate income tax rate at such a volatile time would be detrimental to all working Americans, and especially to the small business Latino represented by the Chamber.

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We are a dynamic group of corporate and community leaders focused on promoting Hispanic trade, community and culture in one of the largest cities in the United States. We valiantly fought the battles we found ourselves in the midst of a global pandemic. We already have our hands full in this fight; the added burden of increased corporate taxes would only add to the damage currently being done to our communities.

It is our mission at the Latin Chamber of Commerce to promote the success of our members and Hispanic owned companies by promoting positive business, cultural, educational and economic development. I would not be doing my job as a manager and a lawyer if I did not write to express the concerns of the members of the Chamber and myself about the prospect of higher taxes. In my many years of experience in real estate investment and development, I have learned how important a reasonable and fair corporate tax climate is for success.

Now is the time for the government to help us make economic recovery and success easier, rather than hinder it further by increasing corporate taxes on American companies. I hope these concerns do not fall on deaf ears, and that our members of Congress understand how real, hard-working Americans would be hurt by these efforts.

Peter Guzman is President of the Latin Chamber of Commerce in Las Vegas.

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