NFIB's Duggan: Who Will Small Business Voters Support?

Date: May 31, 2016

Dear NFIB Members,

By next week, voters in all 50 states will have chosen the two major candidates for president. Businessman Donald Trump has already secured enough delegates to win the Republican nomination. Former Secretary of State Hillary Clinton is a heavy favorite to lead the Democratic Party. Both candidates claim to be focused on helping small business, and NFIB certainly hopes that’s true. But crowd-pleasing soundbites aren’t enough. Small business owners will judge the candidates based on whether they recognize the real problems and how they plan to solve them.

Stay updated on all things Election 2016 >>

According to NFIB’s monthly Small Business Economic Trends report, the cost and complexity of federal regulations are among the top three concerns for small business owners (taxes and healthcare costs are the others). That isn’t surprising. The Obama Administration has imposed new regulations at a dizzying pace.

A research piece published by the Heritage Foundation last week identified 229 major regulations approved since 2009. The heavy blanket of rules on the economy costs more than $108 billion every year. In 2015 alone, federal agencies approved 43 major new rules that will drain $22 billion from the economy annually.

It’s important to note that the cost estimates come directly from the regulatory agencies. They include only the most expensive new rules, such as the Waters of the U.S. Rule and the Clean Power Plan, both of which NFIB is challenging in court. Thousands more regulations have been added under this administration for which no cost analyses were performed. Moreover, there are hundreds of proposed rules that bureaucrats are rushing to finalize before President Obama leaves office in January.

Costly regulations frustrate most businesses, but large corporations can more easily withstand the pressure. In fact, the SBA Office of Advocacy estimates that firms with 20 or fewer employees pay 36 percent more than large corporations to comply with regulations. Also according to the SBA, 99 percent of all U.S. businesses are small businesses.

President Obama’s successor will inherit the biggest and most aggressive regulatory bureaucracy in history and a flat economy that is growing at barely 2 percent per year. The candidate who acknowledges the connection between the two, and who offers a plan for reform, is the one who’ll earn support from small business.

Sincerely,
Juanita Duggan, NFIB President and CEO

Subscribe For Free News And Tips

Enter your email to get FREE small business insights. Learn more

About the Author

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More

Or call us today
1-800-634-2669

© 2001 - 2024 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy