Exclusive conference call answered questions, discussed plans for moving economy past the coronavirus
As governors and congressional representatives have been doing across the country recently, U.S. Rep. Don Bacon went to the voice of small business to apprise Main Street entrepreneurs of the additional steps Congress is taking to help combat the coronavirus and what is ahead.
NFIB Nebraska State Director Bob Hallstrom introduced Congressman Bacon as a “strong supporter of NFIB and small business during his term in Congress.”
Later in the April 17 conference call, Bacon returned the praise. “I really enjoyed being on the [U.S. House’s] Small Business Committee, and a lot of the bills we passed came directly from the recommendations of NFIB on how to help small businesses operate on a level playing field and compete better. And, I think you had a very good voice on the tax reform where we were able to get quite a lot for the small-business community with the reduction of S-Corp and some of the 100-percent expensing … so, I want to thank you for that.”
Bacon lamented the violent change the American economy experienced in seemingly seconds, but he held out hope it could change, for the better, again, “We’ve worked hard to add seven million people to the payroll in the last three years, have the lowest unemployment in 50 years, and [then] to have 21 million go on unemployment. I think we can get most of those folks back to work once this coronavirus lifts—if we do this right. That’s our goal.”
Priority 1 for Bacon is to replenish the Paycheck Protection Program, the creation of which he supported. “We had to have the PPP,” he said. And, he agreed with one caller’s concern about its effect on the national debt, but he cautioned against affixing any blame on the tax cut.
“Our tax revenues prior to the coronavirus were up, so you can’t blame the tax cut, because revenues have actually increased, and we put our small businesses and business community on a level playing field in the global economy.”
Bacon also walked callers through the first three phases of Congress’s actions and said a fourth phase would be “an opportunity to make some tweaks and fixes … We want the dust to settle to see if we need to do a larger 4.0. I perceive, right now, it’s tactical fixes that we’re looking at and replenishing various funds we need.”
Joining Bacon on the call was Daniel J. Frazee, a top aide of his. Both men discussed resources available to help small-business owners, ideas for keeping food and meat-producing businesses open, airlines, small media businesses, and agricultural production.
As for when Nebraska would re-open for business, which President Trump has given governors the job of determining, Bacon speculated, “I believe in Nebraska, you’re going to see a lot of recommendations versus mandate or laws, because that’s the way [Governor] Pete Ricketts likes to operate. I think he’s been very conscious about our liberties … I appreciate his style on how we step forward on this.”
Click the arrow on the graphic below to listen to the 38-minute conference call.