Small Biz Reaction to State of the UnionJanuary 31, 2018
President Donald Trump gave his first official State of the Union Address last night where he touted his administration’s work on tax reform and went on to outline his priorities when it comes to immigration reform and rebuilding America’s infrastructure. Earlier today, NSBA held a teleconference where NSBA leadership offered their insight and analysis on the address, and also discussed what’s likely ahead in 2018 for key small-business policy priorities. Click here to listen to that call.
Below is a statement from NSBA President and CEO Todd McCracken on the President’s State of the Union Address.
“In addition to highlighting the current high levels of small business optimism, President Trump correctly emphasized the importance of tax reform to business – something NSBA ultimately supported. However, NSBA continues to press for action on the pieces of the small business tax agenda left out of the most recent reform, the need to address tax complexity, parity among all forms of business, and the looming U.S. debt.
“President Trump highlighted his plans to provide federal funds for infrastructure projects with an emphasis on innovation—something that ought to deeply involve the most innovative business sector in the U.S.: small business. Doing business with the federal government is an extremely convoluted process for small businesses, and any kind of broad spending initiative that seeks innovative approaches must make small-business involvement a pillar, and remove barriers to their participation.
“President Trump emphasized the economic growth and low unemployment we’ve seen in recent months. Small business access to credit and capital, however, continues to lag—a fact that prevents many smaller companies from fully participating in the ongoing national economic growth. According to data from NSBA’s forthcoming Economic Report, more than one-quarter of small businesses still cannot obtain adequate financing.”
Please click here for more on NSBA’s priorities for policymakers in Washington, D.C. Don’t forget to save the date for our upcoming Washington Presentation on June 11-12 – space is limited and this event is THE time for you to make your voice heard.