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Testimony before the Joint Economic Committee Hearing on “Breaking through the Regulatory Barrier: What Red Tape Means for the Innovation Economy”

Testimony before the Joint Economic Committee Hearing on “Breaking through the Regulatory Barrier: What Red Tape Means for the Innovation Economy”

May 22, 2018

Jessica A. Milano

Former Deputy Assistant Secretary for Small Business, Community Development, and Housing Policy
U.S. Department of the Treasury

Small Business Owners Say Commonsense Regulations Needed to Ensure a Modern, Competitive Economy

A new scientific opinion poll found small business owners support commonsense business regulations and do not feel current levels of regulation are a top business concern. The poll also found current levels of regulation are not a top concern for our nation’s small business owners, and they do not support rolling back all federal regulations on businesses. 

Small Business Majority Supports California's Prompt Payment Bill

Mark Herbert, California Director for Small Business Majority, submitted a letter in support of the California Prompt Payment bill (AB 1552), which would require all public utilities to promptly pay vendors that submit valid invoices. Prompt payment measures such as this will help small businesses compete more effectively in bidding processes for contracts. The bill requires that public utilities will be required to pay vendor invoices within 30 days.

Small Business Owners Support Legislation Requiring Transparency in Business Formation

Recent scientific opinion polling found small business owners overwhelmingly believe Congress should pass legislation requiring businesses to list their true identity when forming. Such legislation is being considered to fight fraud committed by anonymous shell companies, including when larger companies use these entities to unfairly compete for government small business set-asides. Additionally, the poll found small business owners think such legislation would benefit, rather than burden, their business by protecting them from fraud and allowing them to compete fairly for government contracts.

A modest tax day proposal: Help small business by closing corporate loopholes

Everyone knows that reforming America’s tax system is among the tougher tasks lawmakers consider every year, which is why our tax code has undergone few significant changes over the last two decades. This slow pace of progress, however, is deeply harmful to small businesses that are consistently held back by tax rules that favor large corporations while hindering small firms.

Small Businesses Reject Role of Money in Politics; View Citizens United Decision as Bad for Business

On Jan. 21, 2010, the U.S. Supreme Court ruled in its Citizens United decision that corporations are free to spend unlimited sums of money in elections. According to opinion polling released by the American Sustainable Business Council, Main Street Alliance and Small Business Majority, two-thirds of small business owners see this decision as bad for small business. The poll also shows small business owners overwhelmingly believe corporations have been given too much freedom to spend money that directly influences political campaigns.

Small Business Owners’ Opinions on Regulations and Job Creation

Rhetoric blaming government regulations for a lack of small business growth and our stagnant economy has reached a fever pitch. Legislators have introduced bills aimed at curbing regulations, believing this would stimulate our sluggish economy. While lawmakers are right to view small business as the key to economic recovery, small businesses don’t see regulations as their No. 1 concern. Instead, the vast majority of small business owners believe weak demand is the primary problem for their business right now, not regulations.

Small Business Owners Feel Disadvantaged When it Comes to the Electoral Process, Support Significant Reforms

Small Business Majority's scientific opinion polling shows small business owners often feel disadvantaged by large corporations and the electoral system overall. They believe our current campaign finance system puts large corporations at a competitive advantage and support significant reforms to level the playing field between small employers and large corporations.

Opinion Poll: Small Business Views on Taxes and the Role of Government

Small businesses have become a key weapon in politicians’ arsenals when arguing for practically any policy that has an economic impact. Policies associated with the current tax debate are no exception. Countless rounds of legislative battles have been and will continue to be fought over whether small businesses will be hurt if tax breaks for high income earners are allowed to expire at the end of 2012.