Congress is considering new taxes and mandates that owners say could be powerfully negative to their business
As Congress deliberates on a host of new taxes and mandates on small business, owners are speaking out on how these measures would be a major issue for the health of their business.
That’s why NFIB has launched the In Their Own Words video series, part of our ongoing Small Business Survival campaign to protect small businesses from damaging tax increases and mandates. The latest video features Chuck Mills, who owns Mills Machine Company in Oklahoma.
“Tax increases, in general, impact us in such a powerful, negative way,” Chuck explained. “Again, we’re struggling along with just the sheer economy of limited supplies…this supply chain is disrupted and in a bad place…we have a limited workforce. We already have these big issues we have to work on and work with and try to survive, and then you want to pile taxes on top of us…the impact is huge. It really limits our ability to continue to function for the future.”
Chuck also mentioned that past tax reductions were a huge benefit to his business, allowing them to hire more people and buy more equipment. Tax increases meanwhile have the reverse effect: growth-oriented spending on equipment and new employees becomes less feasible.
“Small businesses have to step up and speak for themselves and protect themselves. I know everyone’s busy. I’m busy too. But it’s imperative that you take time out of your schedule to interact with your elected officials, tell them what’s going and give them the real down-on-the-ground on what’s happening. They’re in a different world. We have to bring them back down to earth and show them what really happens.”
NFIB member Robbin Gulino is president of Rendex, Inc-Integrated Services Group/ISG Events, a New Jersey small business that provides Office Management, Marketing and Training services to small and micro businesses. She has led her business for 20 years, but now her business model is threatened by tax increases.
“There is a threshold that I must stay below before my clients either choose to hire a full-time staff member or perform the service themselves,” Robbin explains. “If I have to raise fees to cover higher taxes, I’ll be pricing myself out of the market.”
Her business is also threatened by the proposed increases in the minimum wage. Earlier this year, Congress attempted to include the Raise the Wage Act, which would gradually increase the federal minimum wage from $7.25 to $15.00, in un-related legislation. Ultimately, the Raise the Wage Act was stripped out of that legislation, but state-level versions are still being considered.
Nevertheless, Robbin has confidence in the resilience of small business. “It takes courage to start and maintain a small business, and if you have the dream to bring your product or service to the world – take that first step and keep taking the next step. You will learn more than you can imagine as long as you continue to show up at the table.”
If you’re an owner who is concerned about the various new taxes and mandates that Congress is considering, let your member of Congress know to keep small businesses in mind when they vote.