| Weekly Update from Sam |
Dear Friends,
Four years after the 2009 recession, the economy has not yet fully rebounded. There was some good news this week on Wall Street, where the stock market reached all-time highs, and today's unemployment news was positive. But, when we look to Main Street and the small business sector, the news is not as encouraging. The Federal Reserve notes that the costly and cumbersome health care law is causing small businesses to lay off workers. And though stocks climbed, small businesses struggle and startups declined.
Policies matter. Under the Obama administration, small businesses are absorbing new burdens of higher taxes, more regulations and the health law requirements. It all adds up to a flat small business economy. The latest NFIB report still shows low optimism among small business owners. Of those surveyed, 11 percent added jobs, while 9 percent cut jobs. As I said in last week’s op-ed, the strong economic recovery we need will have small businesses growing and hiring at the forefront. Until then, Washington has work to do to reduce the burdens that are weighing small businesses down.
Sincerely,
Sam Graves
Chairman
|
|
News from Washington
|
On Wednesday, the House passed a Continuing Resolution to fund the government through the end of the fiscal year. The bill prevents a government shutdown, and it also locks in post-sequestration spending levels, while including more flexibility for defense and veterans programs to make smarter cuts. Now, Washington waits for the White House to produce a budget for fiscal year 2014, after missing the February 4th deadline. We need leadership and a rational plan to move us forward, not ad hoc budgeting by crisis. Small businesses must plan and balance their budgets, so should Washington. Credit rating agencies say there is a spending problem in Washington and more cuts are needed. Now that the President has gotten the tax hike he insisted on in the fiscal cliff deal, it is time he gets serious about cutting spending. House Republicans are working for a balanced solution to the nation’s debt that addresses unsustainable spending. |
|
Latest Committee News
|
|
Both of this week’s hearings were postponed due to a change in the House schedule because of weather. Wednesday’s hearing titled, The Health Care Law: Implementation and Small Businesses, will be rescheduled for next month, while Thursday’s hearing titled, Consistently Inconsistent: Challenges for Service-Disabled Veteran-Owned Small Businesses, will be rescheduled for March 19th. As a reminder, you can watch all of our hearings live on the web HERE.
|
| In Their Own Words |
Small business owners all over America are giving us their insight through our interactive online forum, Small Biz Open Mic. Here’s what they’re saying:
“The Affordable Health Care Act is a misnomer – it is unaffordable. The Act has increased my taxes and made my small company less profitable. I have been advised by my healthcare insurance provider that premiums are increasing significantly this year. These increased costs cannot be absorbed by all small businesses and many will lay off employees or go out of business. Our company is looking at reducing its workforce in order to remain viable.” – Jeff Edwards (Chesterfield, MO) AvSafe, LLC 3/4/2013
“We are a small business and although we do not fall under the mandatory health care act for companies 50 or larger, we still must compete for employees. This forces us to be competitive in wages and benefits, driving our costs up. This is a very slippery slope as we do not have the financial backing or economies of scale that large companies enjoy. Many times we have dipped into our personal savings and retirement accounts to make payroll. We have paid taxes on this money once already and when we try to put it back we are paying again!” – Gary Bergeron (Bolton, CT) Connecticut Trailers, Inc 3/2/2013
|
|
| March 8, 2013 |
 |
| What We're Reading |
|
|
|
Small Biz Resources
|
|
|
| Tweet of the Week |
|
@RepDaveCamp According to new @NFIB survey 85% of #smallbiz owners surveyed think Congress needs to reform the tax code
|
|
|
