Walsh Holds Field Hearing on How Uncertainty Faced by Small Businesses Stunts Job Creation
Dec 12, 2011 -
“Certainty is the number one factor for small business owners in deciding whether they can expand or hire more employees.”
WOODSTOCK, ILL.— House Small Business Economic Growth, Tax and Capital Access Subcommittee Chairman Joe Walsh (R-IL) today held a field hearing in Woodstock, Ill., to examine how the economic uncertainty facing small business owners is contributing to the jobs crisis. The Subcommittee heard testimony from local businesses regarding these concerns and their recommendations on how the federal government could foster a business climate that would be more conducive to job creation.
“Certainty is the number one factor for small business owners in deciding whether they can expand or hire more employees,” said Walsh. “Washington plays a major role in providing this certainty— or uncertainty. Small businesses are our nation’s best job creators. If we want to see Americans get back on the job and our economy recover, then we must help to provide this certainty. We can do this by reducing regulatory burdens, simplifying the tax code and keeping taxes low, and living within our means here in Washington. However, doing nothing and leaving small businesses hanging with no solutions is not an option.
“The small business owners who testified at today’s field hearing echoed the same sentiments that I hear from other small businesses: certainty is needed for growth and job creation. This underscores even more so the need for Senate Majority Leader Harry Reid (D-NV) to bring up the 26 House passed jobs bills for a vote. Each one of these bills is a surefire way to foster economic certainty for small businesses that will enable them to concentrate on growing their business instead of worrying about more government regulations and possible tax hikes.”
For related hearing documents, click here.
Notable Witness Quotes:
Craig Larsen, Founder and President of AHC Advisors, Inc. in St. Charles, Ill., said, “It is my opinion that uncertainty about future tax rates is hindering job growth in our country. If businesses are unable to reasonably predict future tax rates, how can they be expected to expand or undertake new projects on the margin if it is possible that future tax rates could be so high as to make these projects unprofitable? If businesses don't expand existing projects, or take on new projects, employment growth will remain muted.”
Perry Moy, Owner of the Plum Garden in McHenry, Ill., said, “We are good actors; we want to comply with the law. But these government mandates can divert our resources and savings. I’d rather spend those dollars on payroll and staff. Please take the steps you can to help me create jobs… Unfortunately, government often stands in the way of letting small businesses do what they do best -- grow their businesses and create jobs.”
Eric Treiber, President and CEO of Chicago White Metal Casting, Inc. in Bensenville, Ill., said, “Over the last two years, we have not seen sensible and cost-beneficial regulation being proposed by federal government agencies. On the contrary, an aggressive federal bureaucracy has imposed excessive regulations with little regard for their impact on job creation and the economy… Dollars spent by manufacturers on regulatory compliance with cumbersome or duplicative regulations are dollars not spent on capital investment or hiring new employees in America.”