A Small-Business Solution To America’s Debt Woes


A Small-Business Solution To America’s Debt Woes

Read this article in PDF form here.

By Kristie L. Arslan

Capitol Hill is sifting through the remnants of last year’s supercommittee talks, looking for tax plans to keep after the collapse. We can expect to hear many proposals about closing tax loopholes.

With a new year beginning, lawmakers are also looking for ways to reduce the budget deficit and get our country back on track. Tax reform is one way to do that, and is something the NASE has long advocated for in Washington.

Take Small Steps To Make A Big Difference

Congress can invest in small fixes that will go a long way for the small-business community:

  • Fix the tax disparities that make small businesses pay more than their corporate counterparts for health insurance
  • Increase small-business lending to help startups create new jobs and help existing businesses expand
  • Help states launch self-employment training programs for residents

We will continue to talk to legislators and policymakers about the importance of creating a fair playing field for the self-employed and micro-businesses.

Find Long-Term Solutions

As any business owner knows, good financial habits are the key to operating a successful company. For those pursuing self-employment, there are resources available to help develop and instill the financial habits necessary for getting a business up and running. However, it can be hard to have the courage to venture out on your own when temporary cuts and short-term fixes make the tax landscape uncertain.

Since 2012 is an election year, the NASE expects to hear plenty of rhetoric from candidates about ways to fix the tax code and reduce the amount of debt that the U.S. holds. Keep an eye on your candidate’s position on these issues, as it could make a big difference in the next few years. When you can, check out your representatives in Congress to find out their views on these issues as well. You can find that information and more at the NASE’s Legislative Action Center.

Remember Small Business In Economic Decisions

As the tough decisions are made to balance our books, it is our hope that those on Capitol Hill will be able to come to a consensus that will alleviate the national debt and work in favor of one of America’s largest economic strongholds—small businesses. It is essential that our policymakers keep the majority of the small-business community in mind as they make important economic decisions about the health of our nation—and do not leave us out in the cold. Providing incentives for the nation’s unemployed to start a small business and go to work for themselves—thereby keeping them off the unemployment rolls—will help boost our economy and ultimately reduce the lingering national debt.

America’s small-business owners want more than just political finger pointing. They want our policymakers to work together to find solutions that put America back to work.

The bottom line is that stimulating the economy will help boost the bottom lines of America’s smallest businesses.

Kristie L. Arslan is president and CEO of the NASE and provides critical insight to policymakers on issues affecting our nation’s self-employed. You can contact her at advocacy@NASE.org.

Read this article in PDF form here.

Courtesy of NASE.org