Nationwide Small Business Survey: Owners Most Concerned by Federal Spending, Health Costs and Taxes

Date: November 14, 2014

Nationwide Small Business Survey: Owners Most Concerned by Federal Spending, Health Costs and Taxes

ANNAPOLIS (November 14, 2014) – Two thirds of American small business owners say they are highly concerned by rising health care costs and nearly that many are deeply troubled by federal spending, according to a nationwide survey released today by the National Federation of Independent Business (NFIB).

“Unfortunately the country is experiencing exactly what we’ve been living through in Maryland,” said NFIB State Director Jessica Cooper. “Small business has been suffering under overly burdensome regulation and taxes in Maryland for years.”

The survey, conducted by Paragon Insights, a Washington-based research firm, finds that 46 percent of small business owners believe that Congress cares most about big corporations. Another 20 percent believe that coddling Wall Street is their top priority. Only three percent of local owners believes that Congress cares most about them.

President Obama doesn’t fare much better in the survey. More than three quarters (77%) of small business owners believe that the President cares most about big corporations, labor unions and environmental groups. More than two thirds (67%) believe he cares least about them.

“The good news for our state is that Larry, a businessman himself, has vowed to reform our business climate.” Continued Cooper. “Unlike the President, Governor Elect Hogan understands what it means to run a business and we look forward to his empathy translating into true policy change for Maryland’s small business community.”

The survey also finds: 

• 83 percent of small business owners believe that Congress should be required to balance the federal budget every year.
• 80 percent believe the Environmental Protection Agency should be required to undertake a comprehensive economic impact study of proposed regulations before they can be adopted.
• 61 percent want the Health Insurance Tax repealed, which under the Affordable Care Act (ACA) is imposed on most small businesses that cover their employees.
• 52 percent want to repeal the provision in the ACA defines a full-time work week as 30 hours instead of the traditional 40 hour standard.
• 76 percent of small business owners believe that President Obama’s executive orders have harmed them.

Related Content: Small Business News | Economy | Maryland

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