WASHINGTON, D.C. (June 10, 2022) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement regarding the Bureau of Labor Statistics report on Consumer Price Index for May and inflation’s continued impact on small businesses:
“With inflation reaching a near 40-year high, small businesses continue to be plagued by rising prices with little hope for relief on the horizon,” said NFIB Vice President of Federal Government Relations Kevin Kuhlman. “As recent data shows, inflation remains the top problem for one-third of small business owners, has a direct impact on small business optimism, which is at a near 50-year low, and continues to harm the small business recovery. With the detriment of inflation, worker shortages, and supply chain disruptions, the Biden administration and Congress must adopt a do no harm approach and rule out any tax increases and mandates on small businesses, and specifically promote policies that would strengthen the small business recovery.”
