On Groundhog Day: Small Business Predicts Early Spring Thaw Thanks to Tax Cuts

Date: February 02, 2018

Related Content: News State Pennsylvania

PA small businesses grateful to Sen. Pat Toomey for leadership in passing tax reform

SCRANTON, PA (February 2, 2018) – Punxsutawney Phil saw his shadow today indicating a longer winter.  No matter what he saw, small businesses are seeing sunny days now as a result of federal tax reform. And Pennsylvania small-business owners today thanked U.S. Senator Pat Toomey (R-PA) for leading the charge.

Alan and Cindi Heyen, owners of JED Pool Tools in Scranton, hosted Sen. Toomey today at their manufacturing and supply facility. The couple gave a tour and explained how the Tax Cuts and Jobs Act of 2017 would help them expand their small business. JED Pools, a member of the National Federation of Independent Business (NFIB), said new rules in the federal tax law on full expensing of equipment would allow them to purchase an additional injection molding machine and upgrade a second smaller machine for making pool supplies.

 “The tax cuts allow small-business owners to keep more of their money so they can purchase new equipment, make capital expenditures, create more jobs, and pay higher wages,” said Kevin Shivers, executive state director of NFIB PA. “We’ve heard from many small businesses like JED Pool Tools across Pennsylvania and the nation who are taking advantage of tax reform to grow their operations.

“NFIB is very grateful to Sen. Pat Toomey who led the drafting of the bill and was instrumental in moving it to passage. We are pleased that Congress and the Trump Administration in Washington realized the importance of including small business in tax reform because those companies are responsible for nearly half of GDP and they create two out of every three net new jobs.”

The shadow of a burdensome and complicated federal tax policy has passed, and according to a new Small Business Economic Trends study by the NFIB Research Foundation, small business owners are now more concerned about finding qualified workers as they ramp up hiring. 

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