Posted by Randy | May 20, 2013
I thought you might be interested in a recent article I read in The Washington Post, which detailed a disturbing trend: The GSA has failed to fully pay 1,334 federal contractors, shorting small businesses by over $3 million. Today’s economic environment is uncertain enough, but when you add in federal agencies that cannot be trusted to fulfill their half of the bargain, small businesses become discouraged from competing and hesitant to invest, stunting our entire country’s economic growth.
As the backbone of the American economy, entrepreneurs and small businesses are crucial contributors to our nation’s economic success. I will continue to work to promote policies that create a healthy economic environment which encourages small businesses to do what they do best: grow, innovate, creat jobs, and lead our country forward.
Posted by Randy | May 16, 2013
I wanted to share a recent article from AEIdeas, the American Enterprise Institute blog, further highlighting the destructive nature of the health care law. The article notes that, according to a recent Gallup poll, 48% of small business owners believe that the law will be bad for their business.
Question of the week: Do you believe that states should have the authority to require online sellers to collect sales tax from individuals living outside their borders?Posted by Randy | May 09, 2013
This week, the Senate passed the Marketplace Fairness Act, S.743, to enable states to require online sellers with more than $1 million in annual revenue to collect sales tax on transactions outside their borders. Under current law, sellers must have a physical presence in a state before the state can require retailers to collect sales taxes.
Supporters of this bill believe that small businesses and brick-and-mortar stores are at a competitive disadvantage with online retailers, many of which do not have to collect sales taxes. As such, proponents say that this bill is needed to level the playing field by enabling the collection of a sales tax that is already due.
On the other hand, opponents of this bill argue that it would burden small businesses, forcing them to comply with state and local tax laws from around the nation. Additionally, they argue that the measure would violate state sovereignty, force businesses to be tax collectors for other states without benefitting them, and dissuade entrepreneurial and start-up businesses.
Question of the week: Do you believe that states should have the authority to require online sellers to collect sales tax from individuals living outside their borders?
( ) Yes.
( ) No.
( ) I don’t know.
( ) Other (leave your comments below).
Take the instaPoll here.
Find the results of last week’s instaPoll here.
Posted by Randy | March 13, 2012
I want to share this video with you from the House Committee on Oversight and Government Reform today. Veteran truck driver Doug Grove, safety director at San Bernardino, CA based Western HiWays, explains how burdensome federal government regulations don’t align with the realities of the road.
Watch the video here or click the image below.
Government was not designed to be the center of the marketplace, nor was it meant to be a barrier to economic growth. With each new overreach of the federal government into the realm of small business, the more it continues to stifle innovation and entrepreneurship in America.
Read about my recent work to address regulations here.
Posted by Randy | February 16, 2012
A new poll by Gallup shows that 85% of small business owners surveyed are not hiring. Of those individuals, most cite the following reasons: do not need additional employees; worries about weak business conditions, including revenues; cash flow; and the overall U.S. economy.
According to the latest Chamber of Commerce quarterly Small Business Outlook Survey, 78% of small businesses surveyed report the taxation, regulation, and legislation from Washington make it harder for their business to hire more employees.
Posted by Randy | November 01, 2011
Check out this 50-second video from the House Financial Services Committee revealing the simple truth about Washington regulations and jobs:
Posted by Randy | September 02, 2011
This week, House Majority Leader Eric Cantor outlined the House legislative agenda for the fall. The agenda will include targeting 10 major regulations for elimination and seeking to enact one major tax cut for businesses. You can see the agenda first-hand in this memo that Majority Leader Cantor sent to my colleagues here.
We need an agenda like this one that focuses on private sector growth. Removing barriers to innovation and encouraging small business growth will help create the jobs we need to get our economy moving again.
I want to know what you think as we head into the fall session of Congress. Do you agree that we need to focus on solutions to encourage small business growth? Of the policies outlined in the agenda, which one do you think is most important? Leave your comments below.
Posted by Randy | August 17, 2011
Virginia has once again been noted for its pro-business environment. The Pollina Corporate Real Estate gave Virginia the top ranking in 2011 in its national study, Top 10 Pro-Business States for 2011: The Rise of the West. Virginia won by the largest margin in the history of the study. This accolade comes on top of a study by CNBC in July that found Virginia as America’s “Best State for Business.”
Brent Pollina, Vice President of Pollina Corporate Real Estate and author of the study, said, “Virginia can certainly be emulated by other states, which should view Virginia’s economic policies as a coloring book. All they need to do is stay between the lines of the coloring book, and they, too, can create a powerful pro-business environment.”
Contributing to Virginia’s pro-business environment are low taxes, limited regulations, and a great quality of life.
The Commonwealth of Virginia should be proud of this achievement. This type of environment will attract businesses to move here, create jobs, and grow, something that will be hugely beneficial in our current economic environment.
The full study by Pollina is available here.
Posted by Randy | August 17, 2011
This week I had the opportunity to tour the Unilever Lipton tea facility in Suffolk to learn about its aggressive recycling and composting program that has made them a “zero-landfill” facility. It's great to have such a successful waste-to-energy program in the Fourth District.
Read more about the facility on the City of Suffolk website in a news article that was posted when Unilever achieved its “zero-landfill” status.
Question of the Week: Have federal regulations inhibited America's economic recovery and job creation?Posted by Randy | July 07, 2011
According to the Small Business Administration, regulations imposed by the federal government cost our economy more than $1.75 trillion annually. To illustrate the problem, a recent Wall Street Journal article detailed the experience of small businessman Allen Ash, owner of a toy making company whose compliance with a myriad of federal regulations have negated any profits the 135-person company has made since 2008. Moreover, new federal requirements have forced Ash to hire four compliance officers to oversee federal product-safety rules, while at the same time having to lay off 20% of his company's staff. Although federal regulations are intended to protect workers and ensure consumer safety, the recent increase in regulations has stifled economic growth and disproportionately affected small businesses--the backbone of the American economy. It costs about $2,830 more for firms with less than 20 employees than those with 500 or more employees to comply with government regulations on a per-employee basis. In specific areas such as tax and environmental compliance, firms with 20 to 499 employees also pay significantly more than large firms.
Stay in touch with Randy: Are you a small business owner?
To learn more about the impact of federal regulations on small businesses, read this report from the Small Business Administration.Take the poll here.
Find out the results of last week's instaPoll here.
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05/17/2013 - Question of the week: Do you believe the Prevent IRS Overreach Act is a necessary step in ensuring protection for the American people?
05/16/2013 - The Unaffordable Care Act
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