Meet the Escuderos: How a tax hike could wipe away their American Dream

Sergio and Maria Escudero came to America with one goal: to build their American Dream.

They worked hard, saved money, and opened a small business. After five decades of tireless work, Sergio and Maria can safely say they achieved their American Dream.

But now, the expiration of the 2017 Trump tax cuts is threatening to wipe out their 50 years of hard work and turn their dream into a tax-fueled nightmare.

“America offers the freedom and opportunity that lets hard workers succeed. High taxes and regulations are the opposite of the American Dream — they’re a nightmare,” said Sergio Escudero.

Sergio and Maria aren’t the only ones at risk. If Washington lets the 2017 Trump tax cuts expire, hundreds of thousands of Latino business owners will be in a similar situation.

That’s why LIBRE is working day and night to ensure Congress doesn’t vote for the biggest tax hike in American history.

The Escuderos’ journey: From Mexico to the American Dream

When Sergio and Maria were a young couple in their 20s, they made a risky decision: They left their life in Mexico behind to start from scratch in America.

The young couple had little money in their pockets and was facing an unknown future. But they were confident in one thing — in America, they would have the opportunity to build a prosperous future.

They started their new life in 1968 in Toledo, Ohio. Sergio, a skilled goldsmith, and Maria, an experienced administrator, worked long hours to save enough money to open their own jewelry shop.

And by 1977, they had enough money to open their own business, Q2 Jewelry and Services.

“My business is my American Dream,” said Sergio Escudero.

The Escuderos have faced their share of challenges ¬— from tight margins to tough competition — but their perseverance has kept Q2 Jewelry in business for over 50 years. Their high-quality work has made them a beloved local institution in Gahanna, Ohio.

One recent policy has taken their business from persevering to thriving.

Tax cuts and the Escuderos: A winning combination

The Trump tax cuts were a boon for small businesses like the Escuderos’. Lower taxes and higher incomes meant people spent more.

In Ohio, median family income rose almost $8,000 after the tax cuts were enacted — many Ohioans spent some of that extra cash at the Escuderos’ shop.

There’s another way the tax cuts helped the Escuderos, too. Like hundreds of thousands of small business owners, the Escuderos reported their business income on their personal tax returns — so when rates went down, they could keep more of what they earned.

But now, a looming threat could put the Escuderos’ dream at risk.

A tax hike would wreak havoc on mom-and-pop shops

Just as the tax cuts helped the Escuderos in two ways, a tax hike would be a one-two punch, hurting their bottom line.

Here’s how:

• The average Ohio family will pay $2,034 more in taxes every year — that means they’ll have less money to spend on anything that’s not a basic need.
• At least 26,000 Buckeye jobs will be at risk if the Trump tax cuts expire this year.

If the tax cuts expire, Ohioans will lose jobs and income — hitting the Escuderos’ jewelry store hard.

In fact, if Congress doesn’t extend the Trump tax cuts they might be forced to sell the business they spent their lives building.

The Escuderos aren’t the only small business in Ohio that’ll get wrecked by a massive tax hike. More than 162,000 small businesses (20,000 of them Latino-owned) could face higher taxes if Congress doesn’t act.

That’s why The LIBRE Initiative is mobilizing its powerful grassroots army to fight for the prosperity of people like Sergio and Maria Escudero.

LIBRE is fighting to ensure Congress extends the 2017 Trump tax cuts.

And we need the help of people like you.

If you want to be part of the movement protecting American prosperity, click here to join.