President’s Jobs Speech Recognizes the Path to Recovery Starts with Small Business
Statement by John Arensmeyer, CEO, Small Business Majority:
Sept. 8, 2011
President Obama’s speech today on the American Jobs Act underscores the fact that all roads to a brighter economic future start with small business. We applaud the president for highlighting the need to cut taxes for small businesses and offsetting those cuts by closing corporate tax loopholes, which do no harm to small firms. Additionally, his focus on putting middle class Americans back to work and boosting their spending power is imperative for our entrepreneurs, as they are small businesses’ primary customers. We have an employment problem, and small businesses create 65 percent of all new jobs. Spotlighting small business will help create a cycle of prosperity that directly benefits the economy by putting America back to work.
However, there is more to do. We encourage lawmakers to develop and support programs that will provide small businesses with the cash flow they need to keep their doors open, pursue new business opportunities and hire more workers, and urge them to support small business innovation, which fuels economic expansion.
Implementing policies that help small businesses get credit, hire and put people to work will not only help unemployment, it will reduce government spending and boost revenue. Fewer unemployed workers means government needs to spend less on social programs and unemployment benefits.
We cannot emphasize enough the need for Congress to act quickly to secure small businesses in their traditional role as job creators, and as a result, get our economy back on the right track. Congress needs to put aside partisan bickering to focus on what really matters. We urge lawmakers to rise above the gridlock that has gripped them for too long and put the public good above politics.