House Small Business Chairman Representative Steve Chabot (R-OH) stated, “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” during this week’s GOP Address.
Transcript as Follows:
“Every day, in the smallest towns and biggest cities across this country, about one in three Americans gets up and goes to work at a small business.
Maybe they have coworkers, or maybe, for now, it’s just them. Maybe it’s their first job, or maybe they’ve been lucky enough to build a lifelong career in the very place they started.
That’s why, when we talk about supporting our small businesses, we aren’t talking about buildings on Main Street or bottom lines on spreadsheets.
We’re talking about millions of people, families, and futures.
Today wraps up National Small Business Week. Since 1963, Democrats and Republicans alike have recognized this week as a time to celebrate the contributions of small businesses to every community in America. 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.
There’s a lot in Washington that divides us, but in my time in Congress, I’ve not met one person who believes our small businesses should carry the burden of excessive regulations and complicated taxes. Still, that’s what happens.
On average, 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.
These are hard realities for small businesses that we want to change.
Republicans know there’s no effort too big or too small when it comes to encouraging small businesses. That’s why we’ve done things like making the research and development tax credit permanent. Getting rid of the oil export ban. Waiving upfront loan fees for veterans who want to be entrepreneurs. Strengthening and empowering local small business development organizations.
And we’re just getting started.
We know that every business, product, and job—big or small—started with an idea. That’s why small business owners, employees, and entrepreneurs everywhere should be energized by our reform agenda for the future. We’re bringing bold new ideas to the table—and that will challenge the way Washington does business, not just today, but for years to come. We know the biggest obstacles we face won’t just go away overnight. Instead of accepting that these are challenges we’ll have to live with, we’re building long-term solutions to fix them.
In a way, Congress is learning to do what American entrepreneurs do best: take care of today, and plan for tomorrow.
If we want a confident America, we need confident Americans. 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.
As chairman of the House Small Business Committee, I get to hear small business stories from all over the country every day. If we’re looking for bold ideas for building the future, look no further than America’s small businesses.”
Follow Ian Hanchett on Twitter @IanHanchett