What represents the American Dream better than a small business?
Each and every day, nearly 58 million Americans go to work for the 30 million small businesses nationwide that drive our economy and employ almost half of our private sector workforce.
The impact of small businesses on our communities is massive, and the fact that they create 63 percent of new jobs is something we should celebrate every day. But National Small Business Week provides us with a special opportunity to recognize small businesses for their many contributions to our economy and the American Dream.
Working with President Trump, House Republicans are focused on helping small businesses flourish, and with our nation’s economy continuing to grow, the results speak for themselves. In fact, with the help of our Tax Cuts and Jobs Act, the outlook for entrepreneurs has reached new heights.
That’s what the U.S. Chamber of Commerce’s Small Business Index showed in its recent quarterly survey, which found record levels of optimism from small businesses that tax reform will help their company and the national economy:
- Nearly twice as many small businesses feel tax reform will benefit their business compared to those who think it will hurt.
- 54 percent believe tax reform will help the national economy
- 55 percent of business owners see the economy in good health, up 17 points since Q4 of 2017
- More small businesses are planning to hire this quarter
This is great news, and House Majority Whip Steve Scalise (R-La.) heard first-hand about the huge impact of tax reform when he toured Louisiana businesses Gnarly Barley Brewing Company of Hammond and Blessey Marine Services of Elmwood, and brought together New Orleans-area women business leaders for a roundtable discussion.
Like countless other small business owners, Zac and Ana Caramonta, who own Gnarly Barley Brewing Co., are using new savings from the Tax Cuts and Jobs Act to increase benefits for their employees and expand their business. Blessey Marine Services announced it would be using $1.5 million in new savings to raise wages and increase investments in its employees. At the roundtable, women business leaders shared how the Tax Cuts and Jobs Act has already allowed them to recruit and retain great team members and invest in new technologies that improve operations and foster growth. These are just a few examples of how small businesses, which are responsible for creating two-thirds of all new jobs in America, are seeing increased prosperity under the new Republican tax cuts.
This week, consider using new found savings from the Tax Cuts and Jobs Act to support small businesses by shopping local!