Budget Discipline Needed to Encourage Job Growth
Small business owners blame Washington's political climate
(Washington, D.C.) – Members of the House and Senate met this week to negotiate toward a consensus federal budget plan, even as America's entrepreneurs are growing increasingly concerned about the negative impact of federal taxes and regulations. According to a new survey by the National Federation of Independent Business (NFIB), 68 percent of small business owners now say this is a bad time for them to expand. A record 37 percent of small business owners say the political climate in Washington is the main culprit. Washington is suffering in the eyes of the people, with just nine percent of Americans approving of Congress, and the President's approval at just 39 percent.
These disturbing results come as budget negotiators continue to meet, but reportedly make little progress on a compromise plan. According to reports, a primary obstacle is the push by some to increase taxes – even as projected revenues are already estimated to increase under current law. Given the findings of the NFIB survey, Congress would likely harm small business growth if they yield to the call for tax increases. Given the increasing uncertainty associated with the troubled introduction of the Affordable Care Act (ACA) also known as Obamacare, more new taxes and regulation are the last thing American workers need right now.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
"Polls show that the American people are getting more frustrated with Washington with each passing day. While working families increasingly struggle to find jobs and pay their bills, some in Washington continue to push for more spending, higher taxes and new regulations that raise the cost of even necessities such as health care. This is precisely the wrong approach.
It's encouraging that both sides of the aisle are engaging in discussions about the course of federal spending. But it could not be any more clear that this is the wrong time to raise taxes or increase government's interference in our daily lives. Entrepreneurs and small businesses can grow and succeed – if Washington will just get out of their way."
For interviews with a LIBRE representative, please contact: Judy Pino, 202-578-6424 or Brian Faughnan, 571-257-3309.