Sen. Ron Johnson On Proposed Legislation’s Impact on Businesses

On this episode of Paychex THRIVE, a Business Podcast, Gene Marks is talking with Senator Ron Johnson of Wisconsin about the impact that different proposed legislation could have on businesses and why it’s so important that we push for more government transparency. Hear what Senator Johnson had to say about his proposed Guidance Out of Darkness (GOOD) Act, the impact of the possible independent contractor classification ruling, the complexity of our tax code, and more.

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Topics Include:

00:00 – Welcome, Ron Johnson
00:46 – Guidance Out of Darkness (GOOD) Act
02:56 – Cost of complying with government regulations
03:38 – How business owners find guidance today
04:35 – Who supports the GOOD Act?
06:10 – Independent contractor classification
08:08 – What could happen with reclassification ruling?
08:51 – New IRS commissioner, Danny Werfel
09:29 – Possible increase in IRS audits
10:16 – Complexity of our tax code
13:27 – IRS Accountability Act
14:05 – Transparency in government
15:08 – Prevent Government Shutdowns Act
18:53 – The national debt and increasing interest rates
19:56 – Corporate tax rate
22:08 – Senator Johnson on Senate Finance Committee
24:26 – The Senator’s ideal ay to handle taxes
28:15 – Wrap up