Middle Market Should be Included in Policy Decisions
Tax Reform for Middle Market Key to Economic Success
The middle market is responsible for approximately one-third of America’s Gross Domestic Product (GDP) and one-third of its workforce. With McGladrey’s unwavering commitment to the middle market in mind, McGladrey Managing Partner and CEO Joe Adams recently shared insights with The Daily Caller about the importance of including the middle market in policy discussions, particularly those around tax reform.
“While efforts to ensure that reduced corporate rates do not exclude small businesses are commendable, similar protections are also needed for the middle market, generally defined as companies with annual revenues between $10 million and $1 billion,” said Adams. “The current bipartisan agreement over the need to lower the corporate tax rate is a refreshing and welcome change to the tax policy dialogue in Washington, but it reflects an obsolete ‘big or small’ view of business that ignores America’s most prolific job creators – the middle market.”
The Daily Caller quotes statistics from McGladrey’s The Real Economy, which indicate that middle market employers added more than two million jobs during the recent recession, while their counterparts cut four million positions.
Read the complete Daily Caller article.