When the Affordable Care Act was signed into law in 2010, it delivered sweeping reform to the nation’s healthcare system. A significant feature of the law is an expansion of Medicaid to cover a larger number of low-income individuals. In June 2012, the Supreme Court ruled it was up to each state to decide whether to expand eligibility for Medicaid. The Medicaid expansion gives every state the opportunity to take advantage of federal funding that will support jobs and stimulate economic growth throughout the state while expanding health coverage for its residents.
Across all industries and from one end of the political spectrum to the other, small business owners recognize that without comprehensive immigration reform, U.S. small firms and the economy cannot maximize job creation or revenue generation. New scientific polling shows that the vast majority of them believe our current immigration system isn’t working, and they’re eager to fix the broken system. Our primary job creators agree something must be done because immigration is good for America and good for small business.
Lawmakers dodged an economic bullet at the end of 2012 when they came to an 11th hour agreement on the highly publicized “fiscal cliff” issue. Not two months later, policymakers have yet another obstacle in their path that could have dire consequences for small business and the economy: what’s known in D.C. parlance as “sequestration.” The sequester is a host of automatic spending cuts set to begin March 1 because lawmakers haven’t agreed on a deal to reduce the deficit by their self-imposed deadline.
Signed into law on Feb. 5, 1993, the Family Medical Leave Act allows eligible employees of covered employers to take a limited amount of unpaid, job-protected leave for certain family and medical reasons, and have their benefits maintained. Twenty years later, scientific opinion polling has found small businesses strongly support the decades-old law.
Small businesses are working hard to move their companies, and our economy, beyond the recession. As much as they’ve already accomplished to lift employment levels, these entrepreneurs are not immune to the lingering effects of our disrupted financial market, and they want smart steps taken to address their needs. Contrary to the mantra that slackening Wall Street’s reins will bring economic growth, four out of five small business owners believe Wall Street should be held accountable for the practices that caused the financial crisis, through tougher rules and enforcement.
For the second time since the summer of 2011, Congress is debating whether or not to raise the federal debt ceiling—the legal limit on how much the federal government can borrow. While addressing our debt is an important issue that carries weight for small business and the economy, some politicians have been misusing the debt ceiling as a mechanism for furthering their own partisan agendas. Short-term solutions lead to uncertainty for small businesses and our job creators want our leaders to put this issue to rest.
As small business owners prepare to close the books on 2012, our country is fast approaching the edge of what’s been dubbed the “fiscal cliff.” This critical situation—created by a host of tax cuts set to expire at the end of 2012, coupled with billions of dollars in automatic spending cuts that will be triggered if Congress and the president can’t agree on a way to reduce the deficit by year’s end—has dire consequences for small businesses. Many of the tax provisions set to expire benefit small businesses and the middle class, small businesses’ core customer base.
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.
Small businesses are one of the most respected constituencies in the country, and certainly one of the most courted by policymakers in Washington. However, small businesses are also a group that legislators and the general public understand little about—the very smallest ones, especially. Those businesses are known as “micro businesses.”
American small businesses create 65 percent of all net new jobs and employ roughly half of all workers in the private sector. According to the Kauffman Foundation, businesses founded between 1970 and 2000 (some of which grew into large businesses during those years) provided all net private sector job growth during that timeframe.