NSBA President Urges Congressional Action on Deficit

March 7, 2013

pic-todd-testifyOn Thursday, NSBA President and CEO Todd McCracken urged Congress to set aside partisan differences and get back to the work they were elected to do: namely, addressing the national debt. McCracken joined Sens. Angus King (I-Maine), Roy Blunt (R-Mo.), Rep. Brad Schneider (D-Ill), Chief Counsel for Advocacy Dr. Winslow Sargent, and a handful of other small-business leaders at a roundtable discussing the massive impact the growing debt has on America’s small businesses. The roundtable was organized by the Fix the Debt Campaign and was moderated by former Rep. Jim McCrery (R-La.).

In his remarks, McCracken stated: “We are at a point today where, not only is Congress not fixing the problem, its indecision and infighting is actually creating a larger problem. Policymakers inability—or unwillingness—to work together on a long-term solution to our rising debt is driving small-business uncertainty and having a stifling effect on economic growth. In fact, according to recent data from NSBA, the overwhelming majority of small businesses, 86 percent, believe the U.S. economy will be flat or recessionary in the coming year. This rampant economic insecurity has a direct impact on small-business growth: half of all small businesses project no growth whatsoever for their own business this year.”

The roundtable was a high-level event, hosting a handful of Congressional staffers, key reporters and small-business owners. NSBA Vice Chair for Advocacy, Cookie Driscoll of Fairfield, Penn. attended the roundtable and offered up that there exists a significant disconnect between small business and Congress, and underscored the need to ensure small businesses have access to affordable capital. Among the key topics discussed was the gridlock in Washington, D.C., economic uncertainty and how not fixing the debt will negatively impact small businesses long-term.

“NSBA was the first small business group to partner with the Fix the Debt Campaign, and our members have voted reducing the deficit as their number one issue. The more our elected officials balk at making the tough decisions our country needs, the fewer incentives there are to starting or growing a business,” warned McCracken.

In addition to urging Congress to enact a responsible, long-term solution to the debt which includes broad tax and entitlement reform as well as spending cuts, NSBA has been warning against the negative effects of sequestration. Such a blunt cut to just a portion of the overall federal budget is already having a negative impact on many successful and economically sound small-business programs.

Please click here for more on NSBA’s call for broad tax reform.

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