As Small Business Week draws to a close, House Republicans continue to celebrate the powerful impact of small business on this country. Small businesses are the backbone of our economy and help millions of workers pursue a better future for themselves and their families.
Thanks to the Tax Cuts & Jobs Act, 90 percent of Americans are seeing bigger paychecks, and four million (and counting!) have gotten bonuses and increased benefits. Small business optimism is at an all-time high. For more on our pro-family, pro-growth tax reform, visit FairandSimple.gop.
And this week, we will build on the success of the Tax Cuts & Jobs Act by voting on several bills that will help small business owners and workers thrive and grow.
Small Business Committee Chair Steve Chabot (R-OH) in The Hill: For America, small business is a big deal
Small businesses—America’s biggest asset—employ nearly 48 percent of the private sector workforce and create almost 62 percent of new jobs. In fact, as a result of the Tax Cuts and Jobs Act, a survey conducted by the National Federation of Independent Businesses revealed that small business optimism is at a 30 year high. It’s no coincidence that the when the government regulates these mom-and-pop shops less—they are empowered to succeed.
The fact is, when small businesses are strong, America is strong. Just ask Sheffer Corporation’s CEO and President, Jeff Norris, from Blue Ash, Ohio, on the border of my district, who was able to give all 126 employees $1,000 bonuses, or Julia Mueller, an employee of First Communications in Fairlawn, Ohio, who broke out into tears when she heard that she, too would benefit from the Tax Cuts and Jobs Act.
Ways and Means Committee Chair Kevin Brady (R-TX) in the Washington Examiner: There’s more than usual to celebrate this Small Business Week
This year, we have more than usual to celebrate during Small Business Week. That’s because we now have a tax code that supports small businesses owners and employees, instead of one that takes an unfair amount of their hard-earned money. With the new code enacted last December, we are promoting entrepreneurship through a fairer and simpler tax system.
This matters to our economy. Across America, there are almost 30 million small businesses that employ nearly half of our nation’s private sector employees and they create nearly two-thirds of all new jobs in the U.S. Odds are, you or someone in your family works for a small business. Small businesses are the backbone of our economy. Our nation’s entrepreneurs, who put in countless hours to support themselves and their families, are the key to our economic success.
The Tax Cuts and Jobs Act was designed to grow America’s economy by encouraging investment and job creation. It significantly lowered tax rates for businesses on Main Street and created a first-ever small business deduction to protect 20 percent of the income of sole proprietorships and pass-throughs from taxes. That helps the men and women who run small businesses invest, hire, and grow. Ultimately, it means a better shot at success for these entrepreneurs and the people who work for them.