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Following State of the Union, NASE Encourages Congress and Administration to Support America’s Small Business Community

President Donald Trump delivered his third State of the Union address, which had been postponed due to the government shutdown. While the address provided lofty rhetoric on key priorities for the Trump Administration, the NASE calls on the Administration and Congress to focus on America’s small business community, following the devastating government shutdown that paralyzed small businesses by creating unnecessary uncertainty, many were left confused about IRS refunds and tax obligations, unable to get loan assistance, and were on the frontlines of a lack of sales from regular customers unable to support them.

The Administration and Congress must work together to address the remaining small business issues that could help improve the business climate. From addressing the health care crisis to advancing additional tax reform items and reducing burdensome regulations, the small business community is counting on bipartisan cooperation and common ground when it comes to their issues The new tax reform law going into full effect this year is an enormous benefit to America’s self-employed and micro-business community nationwide. Due to this new tax law, millions of small business owners in every city and town across the country will save time and money with a new simplified tax filing system. The new tax reform package is another step closer to additional simplification of the tax code, allowing the small business community the ability to save, grow and expand. As the economic engine for the middle-class that provides a boost for our economy, they deserve a tax code that boosts growth.

Complimented with a host of beneficial updates, the new tax code supports our entrepreneurs with key enhancements like the doubling of the standard deduction, a lower individual rate – where the majority of self-employed small businesses file - and the elimination of unnecessary and time-consuming itemized procedures. Simplification means freeing up additional time for entrepreneurs to reinvest in their small businesses and keep more of their hard-earned money.

There is no time like the present to initiate and promote small business friendly policies that support and help America’s 27 million small businesses grow and thrive.