State of Small Business: Entrepreneurs Struggling Ahead of President’s Annual Address to Congress

“The State of the Union is an opportunity to assess how all aspects of the United States have fared over the last year, including our nation’s small businesses. I regret to observe, however, that America’s Main Street businesses are struggling mightily under the weight of tariffs, skyrocketing healthcare costs, a loss in consumer confidence, stubborn inflation and the difficulty of sustaining a workforce due to enhanced immigration activity. As I said in a letter to President Trump this week: “[S]mall business owners and entrepreneurs are facing increased pressure caused by national policies that threaten their growth and sustainability for years to come…. Simply put, the state of small business is reaching a breaking point. It is not too late for Washington to take action to support not only small businesses but all Americans through policies  that lower costs and make access to opportunity more readily available for all.’ 

I went on to recommend that the administration pursue small business friendly policies that include bringing an end to sweeping tariffs, renewing the now-expired enhanced premium tax credits that lower healthcare premiums for many small business owners who purchase health insurance coverage through the Affordable Care Act Marketplace, and bringing an end to disruptive tactics by immigration officials that have further exacerbated workforce shortages and contributed to rising costs on Main Street.

It is my hope that the president will address small business concerns in his State of the Union address, and that he will work together with Congress to reverse policies that have harmed America’s job creators.”