A “confident America” depends on small businesses unburdened by taxes and regulations, said Rep. Steve Chabot, chairman of the House Small Business Committee.
Using the weekly Republican address Saturday to mark the final day of National Small Business Week, the Ohio congressman went back to GOP basics. Chabot said top-down “regulations and higher taxes don’t inspire confidence” needed for a burgeoning economy.
“Times have changed, business models have changed, but the enduring spirit of American innovation continues to breathe life into our economy and create the jobs no government program can,” Chabot said.
Chabot said that in 20 years in Congress he has never met a person who approves of forcing “excessive regulations” and “complicated taxes” on small businesses.
“Still, that’s what happens,” he said.
Chabot argued that tax credits, ending the oil export ban and waiving upfront loans fees for veterans who want to be entrepreneurs all would benefit small businesses. Chabot also took a shot at the Affordable Care Act, specifically rising healthcare premiums.
“On average,” Chabot said, “small businesses have to pay more than $11,000 for each employee in federal regulatory costs alone. That’s before the tax bill comes in, and that’s before these new, higher healthcare premiums are due.”
“If we want a confident America, we need confident Americans,” Chabot added. “Top-down regulations and higher taxes don’t inspire confidence. Job creation, innovation and the courage to try and fail until you succeed — those are the building blocks of a future we can all get excited about.”
Since 1963, National Small Business Week has recognized entrepreneurs from small businesses, which make up a significant portion of the U.S. economy. According to the U.S. Small Business Administration, 28 million small businesses in the U.S. account for 54 percent of all U.S. sales and provide 55 percent of all jobs.
