Small Business Majority Network Council Member Joins President at White House to Talk Fiscal Cliff Today

Washington, DC: A small business owner in Small Business Majority's Network Council will join President Obama at the White House today to discuss the fiscal cliff's impact on small businesses and possible solutions to the problem.

Colorado entrepreneur Lisa Goodbee will join the president and 14 other small business owners from across the country to talk about the fiscal situation being created by a host of tax increases and billions of dollars in automatic spending cuts that will take effect on Jan. 1 if Congress and the president can't agree on a plan to reduce the deficit by year's end, known as the fiscal cliff. If not avoided, this situation will have a dire effect on entrepreneurs and the middle class, small firms' core customer base.

Business is picking up as the economy recovers, but my clients could take a big hit if we fall off the so-called fiscal cliff, and that could be devastating for my business, said Goodbee, president of Goodbee & Associates, Inc., an engineering firm in Centennial, Colo. It's really important for my clients and my own business for Congress to take a balanced approach to this problem, and find a sensible solution that both generates revenue and cuts expenses.

The meeting to address the fiscal cliff comes the same day the president announced a host of small business tax breaks to stimulate the economy. The tax breaks would refund 10 percent of the cost of new payroll, in the form of new hiring or new wages, up to a total of $500,000 next year.

The economy is slowly recovering, but small businesses still need help, said John Arensmeyer, Founder & CEO of Small Business Majority. Tax breaks for small businesses would be extremely helpful, but it's also imperative Congress and the president find a way to avert the fiscal cliff, which would have dire consequences for small businesses and their customers.

A scientific opinion poll Small Business Majority released earlier this month found nearly eight in 10 small business owners are aware of the fiscal cliff. The poll also revealed entrepreneurs don't want a solution to interfere with job creation opportunities: a majority think it's more important for Congress to focus on creating jobs than reducing the deficit. However, small business owners see eliminating tax cuts that only benefit the wealthiest as one part of a potential solution.

By nearly a 2:1 ratio, small business owners believe spending cuts for education, healthcare and infrastructure would hurt the economy more than a tax increase on the top 2 percent. A majority also believe allowing tax cuts for high-income earners to expire is the right thing to do given our current economic situation.

To schedule an interview with Lisa Goodbee or a representative from Small Business Majority, contact Allison Abney at [email protected] or (202) 289-0957.