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ATLANTA – Inflation and rising interest rates are squeezing small businesses in Georgia and across the country, several small business owners from Georgia testified Friday during a congressional field hearing in Peachtree City.
by Dave Williams | Apr 21, 2023 | Capitol Beat News Service
“Costs for everything have increased tremendously,” Lisa Winton, CEO of Winton Machine Co. in Suwanee, told members of the U.S. House Ways and Means Committee.
Winton said her company, which employs 40 workers, saw a 49% increase in sales after Congress passed tax cuts in 2017 sought by then-President Donald Trump, allowing her to hire additional employees. However, changes in tax policy by the Biden administration threaten the company’s profitability, she said.
Specifically, Winton cited limits now being placed on tax deductions for interest paid on…