WASHINGTON, D.C. — President Donald Trump declared that “America is on the verge of a golden age for small business” to a room full of entrepreneurs and legislators at the White House on Tuesday, using a 16-year low in unemployment, 2.6 percent GDP, and a record stock market high as evidence.
Trump opened the small business event thanking members of congress and the many entrepreneurs present to celebrate the Small Business Administration’s work. He gave special thanks to first daughter and advisor to the President Ivanka Trump and SBA administrator Linda McMahon for her accomplishments and for helping small business.
“America is on the verge of a golden age for small business,” said Trump. He cited the Trump Administration’s work ending regulations, “massive restrictions on American energy,” and pursuing “bold tax cuts” intended to grow businesses.
“Our stock market has reached an all time high today,” he added. He jabbed that “they” don’t want to talk about that, a 16-year low in unemployment or the 2.6 percent GDP that was just released for 2nd quarter 2017. “We’re gonna be higher than three in the not-too-distant future too,” he added.
“The jobs are coming pouring back, factories are coming pouring back into our country,” said Trump. He referenced the announcement of a Foxconn manufacturing plant now set to be constructed in Wisconsin. He said that’s big business and the investment in the plant may reach $30 billion.
“Together we’re unleashing a new era of American prosperity, perhaps like we have never seen before,” said President Trump.
He went on:
I’m very inspired to be in the company of such motivated entrepreneurs, people that I really respect because I know what it takes…You are the dreamers and the innovators who are powering us into the future…And myself and my administration will be there with you ever single step of the way.
Trump’s remarks were met with resounding applause and a standing ovation as he left the stage and exited the White House East Room where the event was taking place.
Ivanka Trump then took a chair onstage, as did McMahon. The advisor to the President said, “This Administration, day in, day out is steadfast in its commitment to jobs and job creation and you as business owners are really fueling that.”
“We’re looking to unleash you so you can bring your full potential, so you can create more jobs” she said, estimating that 60 millions jobs are created through small business entrepreneurs. Trump mentioned the importance of tax reform and cited 800 regulations established under the Obama Administration, “many of which really stifle your ability to grow and continue to create and produce.”
McMahon added that SBA is more than loans, it is also about mentoring. “It is my goal to make sure that about a year from now, if not sooner, SBA is no longer a secret,” she said. McMahon went on to address the crowd, and the two women held a Q&A with the audience.
In addition to Ivanka Trump and McMahon, President Trump had pointed out during his remarks that Sen. Jim Risch, Sen. Marco Rubio, Sen. Joni Ernst, Rep. Steve Chabot, and Rep. Mike Kelly were in attendance. Multiple times it was mentioned that the SBA is going into its 65th year of existence.
Follow Michelle Moons on Twitter @MichelleDiana
COMMENTS
Please let us know if you're having issues with commenting.