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NFIB Weekly News

NFIB Weekly News Leading the News

Duggan: Small Business Tax Cuts Should Be Made Permanent. (04/16/2019)

NFIB President and CEO Juanita Duggan wrote in Fox Business (4/14) that the Tax Cuts and Jobs Act has enabled small businesses to grow and offer their employees expanded benefits. Duggan said the law’s victories with respect to lowered rates and raised thresholds “explain why small businesses entered 2019 with 45-year records for job openings, hiring plans, pay raises, profit growth, and inventory investment.” However, “small businesses fear it could soon fade without action by Congress,” as individual cuts and the small business deduction are not permanent. Duggan adds, “The President’s Council of Economic Advisers recommends that Congress make permanent all of the Tax Cuts and Jobs Act’s expiring provisions. This is a sound policy that would give small businesses greater confidence to make decisions with long-term consequences.”

Business Climate

Treasury Reports US Deficit At $691 Billion For First Half Of Fiscal 2019. (04/16/2019)

Reuters (4/10) reported the federal government “posted a $147 billion budget deficit in March,” lower than the $180 billion expected by “analysts polled by Reuters” on “federal spending in March” of $376 billion, “down 10 percent” from March 2018, with receipts at $229 billion, up 9 percent over March 2018. The deficit for the first half of fiscal year 2019 was $691 billion, up from $600 billion in the first half of 2018.

Small Business Marketing

Senator Duckworth Introduces New Bill To Support SBA Lending. (04/16/2019)

The St. Louis American (4/12) reported that Sen. Tammy Duckworth (D-IL) “Introduced the Microloan Program Expansion Act of 2019, which would improve the Small Business Administration’s (SBA) Microloan Program to help more small businesses – particularly women, Veterans, low-income and minority entrepreneurs – that may have been overlooked by traditional commercial lenders.” The bill would both “increase the total amount of loans that lenders may keep on their books” and “eliminate an outdated rule that prevents SBA from distributing more than 1/55th of its funding in any given state during the first half of the year.”

Wages and Benefits

WPost Analysis: Trump Pushing To Replace ACA As Law Gains Popularity. (04/16/2019)

The Washington Post (4/13, Cunningham) reported that as the President launches “a fresh assault on the Affordable Care Act,” he “and Republicans face a major problem: The 2010 law known as Obamacare has become more popular and enmeshed in the country’s health-care system over time.” To the Post, “it is an astonishing turn in the circumstances of a polarizing law that the House GOP voted more than 60 times over nearly a decade to scrap and almost scuttled in 2017 – and one that Trump remains intent on destroying.”

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