Posted by Randy | June 27, 2014
Last week, the House of Representatives passed the America’s Small Business Tax Relief Act of 2014, H.R. 4457, with my support. This bill makes Section 179 of the IRS Tax Code permanent, providing important tax relief to small U.S. companies. It helps small business streamline records, purchase equipment, and reduce uncertainty for planning. This legislation passed by a vote of 272 – 144.
Standing up to big government on behalf of small businesses is a duty I take very seriously. Read about my recent work to ease burdens, provide access to capital, and support small business growth, here.
Posted by Randy | May 15, 2014
As we celebrate Small Business Week and recognize the value and importance of small businesses not just to our communities, but to the economic stability and prosperity of our nation, I wanted to share this article with you written by Congressman Sam Graves (R-MO), Chairman of the House Small Business Committee.
By Rep. Sam Graves (R-Mo.) - 05/14/14 09:00 AM EDT
Every small business throughout the country is a story of someone’s hard work, a good idea, or a plan to make life better for their family. Many succeed, some don’t. We should respect the courage, risk and sacrifice required to build a business. One of the purposes of National Small Business Week is recognition of that effort, but there’s more to it. We should examine policies that are helping and hurting small business and make the appropriate changes to encourage their growth because our economy hinges on their success.
Small businesses are responsible for about half the nation’s economic output, and when it comes to jobs, small firms have an outsized impact. Small companies comprise about half of all private sector jobs in total, and lead the way in job creation with 60-to-80 percent of all new jobs, depending on the year. All told, small firms can take credit for 65 percent of jobs created over a recent 17-year span, according to the Small Business Administration.
It’s fair to say that if small businesses are thriving, then the economy is likely to be healthy. If small businesses are struggling, then the economy is not strong.
Over the past month, the latest economic information has been a mix of good news and bad. The unemployment rate has fallen, but a closer look shows far too many Americans leaving the workforce. Moreover, the economy slowed to a mere 0.1 percent growth last quarter. Throughout the very slow recovery of the past several years, the economy has never really roared back or created jobs at the pace the country needs.
Small businesses are a major part of the solution for jobs and growth. When small firms grow, the benefits spread throughout the economy. The irony is that these businesses are often treated by Washington as though they are part of the problem. During the last five years, small businesses have faced numerous roadblocks to growth, including mounting federal regulations, higher taxes, economic uncertainty, and burdensome requirements from the health care law.
As one Connecticut small business owner, Dan De Clercq, commented to the Small Business Committee through our interactive website Small Biz Open Mic, “Since ObamaCare became a discussion in 2008, our yearly premium has doubled from 113k to 220k presently. Plus our deductibles and co-pays have increased to obscene levels. Eliminate or halve my corporate income taxes, help bring my company-sponsored health care back to normal levels and I'd hire four more people.”
Dan’s not alone in his experience. A recent NFIB study shows that ObamaCare’s Health Insurance Tax will cost the economy up to 286,000 jobs, and 57 percent of those jobs would be from small businesses. Over the past five years, the cost of new regulations on the American economy has spiked by $73 billion annually. The Administration has issued a burdensome 157 new major rules, each with economic costs of $100 million or more. This government power grab is predictably not leading to robust economic growth.
Despite the state of the economy, the U.S. Senate continues to ignore nearly 40 growth and jobs bills passed by the House. These bills range from reducing red tape to ensuring access to affordable energy.
Small businesses are widely supported by Americans, but they could use some more common-sense from Washington. The nation’s 28 million small businesses don’t need new bureaucracies or more government control; they need the administration to get out of the way so they can grow.
National Small Business Week is a great time to say “thank-you” to a small business in your neighborhood and “shop small.” I also believe this week is a great reminder that if Washington is going to talk-the-talk then Washington needs to get serious about a small business growth agenda that is going to back up that rhetoric.
Graves has represented Missouri's 6th Congressional District since 2001. He is chairman of the Small Business Committee and also sits on the Transportation and Infrastructure Committee.
Posted by Randy Forbes | March 18, 2014
According to The Center for Regulatory Solutions, a project of the Small Business & Enterprise Council, the regulatory cost per U.S. household is $14,678. In 2012, the median household income was $51,017. That means the regulatory cost per household is nearly 29% of the average family income.
At the end of February, the House passed a package of bills, with my support, to address this over regulation, and instead focus on spurring job and economic growth.
Posted by Randy | February 04, 2014
I wanted to share with you a recent article published by National Review, which details the increasingly apparent risks that Obamacare poses for small businesses. Below is a brief summary.
The Result: “Hundreds of thousands or even millions of small businesses and surely millions of their employees and dependents will have their health-insurance coverage seriously jeopardized.”
In my view, this situation is unacceptable. I supported an alternative (H.R. 3121) to Obamcare, and remain committed to fighting on behalf of our nation’s number one job creators: small businesses.
Posted by Randy | November 20, 2013
Putting aside political posturing and partisan talking points, what is the healthcare law's real life impact on small businesses across America? A survey of companies representing 42 million jobs, released this month by the International Franchise Association and Chamber of Commerce, reveals that the law is forcing our nation’s job creators to cut employee hours and halt job creation. Here are some highlights:
To place this burden on the backs of our nation’s number one job creators is both unacceptable and short sighted. That is why I championed solutions to:
Posted by Randy | November 18, 2013
In 2014, under the President’s healthcare law, a health insurance tax, amounting to over $100 billion will be imposed on health insurance companies, a burden which will ultimately be shouldered by small businesses and consumers.
As a result, the private sector may be forced to shed approximately 146,000 to 262,000 jobs by 2022, according to the National Federation of Independent Business, with over half of those losses negatively impacting small businesses.
Healthcare cannot come at an unacceptable cost to our business community. That is why I cosponsored H.R. 763, which repeals the health insurance tax and protects small businesses and American entreprenuers across the country.
I will continue my fight to entirely defund and defeat this economically unfeasible law.
Posted by Randy | September 25, 2013
The bottom line:
The Obamacare bill was 2,801 pages, with $1 trillion in new taxes that is now resulting in health insurance cost increases and hiring reductions. Citizens and their physicians should have authority over health care decisions, not bureaucrats. It is time to shut Obamacare down.
Posted by Randy | June 21, 2013
A recent article from CBS News’ MoneyWatch showed that 1 in 5 employers expect health care costs to rise by over 5% as a result of the President’s health care law. The wave of new rules and regulations, which companies are scrambling to prepare for, add yet another burden to small businesses amidst an economic environment where many are struggling just to keep their doors open.
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.
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