Jerrod Shouse, state director of the National Federation of Independent Business (NFIB), released the following statement today in response to calls for a tax increase as well as new taxes to help offset the state’s $500 million budget shortfall:
“Our members understand the seriousness of a $500 million hole in the state budget, but raising taxes, especially on small businesses, isn’t the answer.
“Small-business owners know you can’t spend your way to prosperity. If the legislature imposes more taxes on small businesses and their employees, they’re going to hurt the state’s economy and put Oklahoma at a real competitive disadvantage by driving up the cost of doing business. That’s going to mean higher prices for consumers and could help put some businesses out of business.
“It’s hard enough for small businesses to grow and create jobs without the legislature taking more of their hard-earned money in the form of costly and unnecessary taxes.
“Small businesses know you can’t spend money you don’t have. If a small business wants to spend more money here, it knows it has to spend less money there. We expect state government to treat taxpayers’ money with the same care as small businesses treat theirs.”