If small business owners could have just one wish this holiday season, it would be economic certainty. Certainty is everything for a small business, and Washington can play a substantial role in providing that certainty - or uncertainty. When business owners don’t know what’s on the horizon, they are forced to curtail hiring and halt reinvestment in their business in order to start saving for a possible new law or regulation from the federal government.
This is why it is crucial for Congress and the President to pass a full year of payroll tax relief—instead of just a two month extension as the Senate is insisting.
In an effort to cultivate this much-needed certainty, I am pleased that in 2011 the House Small Business Committee was able to pass legislation, such as the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs. SBIR and STTR programs are two of government’s most effective programs for spurring innovative ideas among the small business research and development community— without any additional taxpayer funding. The House also passed our Committee’s Regulatory Flexibility Improvements Act of 2011 (H.R. 527), a bill that would force agencies to consider how their actions affect small businesses and other small entities and if the effects are significant, agencies, not small entities, will have to develop less burdensome and less costly alternatives.
As we look forward to 2012, our Committee will continue working with small business owners to find more ways to instill economic certainty and foster an environment where small companies can thrive without burdensome government intrusion.
I wish you a wonderful holiday season and a very happy New Year.