09/26/2008
Governor earns praise for budgeting
Want to know what small business owners are thinking? If you've been attending NFIB's monthly grassroots meeting in Memphis, you usually come away with a good idea.
Several Memphis-area legislators and NFIB members said Gov. Phil Bredesen and his administration are doing a good job overall managing the state's budget shortfall. Sen. Reggie Tate (Memphis) and Reps. John DeBerry (Memphis) and Curry Todd (Collierville) told audience members the governor and his team are operating well through the turmoil, much like a small business does during tough times. Last week, Finance and Administration Commissioner Dave Goetz said state departments and agencies have been asked to prepare a 3 percent reduction in spending for the 2009-10 fiscal year. Read more here and here about the governor's position and outlook.
On a related note, NFIB expects to continue working with legislators and the administration to see how the state can be better prepared before a wild economic swing. One concept that has strong support from NFIB's membership is a constitutional amendment that would require a two-thirds vote by the General Assembly before it can break the Copeland Cap, which says the budget must grow no more than the average growth in personal income in Tennessee. Currently, only a simple majority vote in both chambers is needed to exceed the cap, which has been broken 11 times since its enactment in 1978. Read commentary from House Minority Leader Jason Mumpower (Bristol).
Workforce development a challenge
At NFIB's aforementioned Memphis Area Action Council meeting sponsored by Regions Bank, member Bob Baker articulated the difficulties small business owners are facing in finding good help, a theme NFIB heard last December at a small business roundtable in Fayetteville with Gov. Bredesen and elsewhere. NFIB plans to ask our members two workforce development questions in the upcoming Tennessee Ballot. As always, please vote your Ballot and special surveys when you receive them!
Financial stabilization and offshore drilling
NFIB's federal advocacy team has been quite busy promoting and protecting your right to own, operate and grow your business. Earlier this week, NFIB sent a letter to Congress in support of a financial stabilization proposal but warned not to damage any further the credit market for small businesses while financing golden parachutes for Wall Street CEOs. NFIB also sent a letter to Congress urging them to allow the moratorium on drilling in the Outer Continental Shelf to expire Sept. 30. Read the letters here and here (PDF documents).
Late yesterday, NFIB President and CEO Todd Stottlemyer issued this statement expressing frustration over the need to bail out Wall Street, as well as strong support for a commission to address the nation's rapidly growing entitlement program obligations. NFIB thanks U.S. Rep. Jim Cooper (5th Dist.-TN) for sponsoring this important legislation. Read this article about how community banks are feeling the effects of the bailout.
'How Congress Voted'
NFIB voting record percentages for Tennessee's congressional delegation are now available here for senators and here for representatives. Sens. Lamar Alexander and Bob Corker registered impressive 100 percent and 90 percent voting records, respectively, in the 110th Congress, while David Davis (1st Dist.), John Duncan (2nd Dist.), Zach Wamp (3rd Dist.) and Marsha Blackburn (7th Dist.) showed strong support for small business. Please thank these leaders when you see them this fall.
Congratulations to Jackson member
NFIB tips our hat to Jackson-based Aeneas Internet & Telephone for being named to Inc. magazine's Inc. 5000 list of fastest growing U.S. companies. Well done, entrepreneurs, and continued success in West Tennessee!
IEEW in Nashville Oct. 7
The Institute for Economic Empowerment of Women will be in Nashville Tuesday, Oct. 7, from 8:30 a.m.-4 p.m. at The Standard at the Smith House restaurant at 167 Rosa L. Parks Blvd in downtown Nashville. The group will present a program teaching women business owners how to become involved in public policy and politics. Luncheon speaker is Rep. Beth Harwell (Nashville), a great friend of small business. Registration information is available here.
Small business news you can use
Court upholds Arizona immigration lawUT study: Entrepreneurs leaving rural areasBlueCross posts doctor ratings onlineCornwall's take on the financial crisis for small businessHealthcare inflation slows
Sincerely,
Jim Brown
NFIB/Tennessee State Director
615-874-5288
Jim.Brown@NFIB.org
