Main Street Braces for Dems’ Tax Increases at Worst Possible Time
Fighting for survival after facing raging inflation and a worker shortage , small business expectations have worsened every month this year in President Biden’s cruel economy.
The National Federation of Independent Business (NFIB) Small Business Optimism Index today showed job creators’ expectations for future economic conditions dropped to the lowest record ever recorded in the survey – marking the sixth month in a row optimism is below the 48-year average since the survey was first administered.
CLICK HERE to read the full survey.
- Economic optimism plummets further as Democrats threaten more crippling tax hikes. Expectations for better conditions have worsened every month this year, and an overwhelming number of small businesses are bracing for even more challenges ahead.
- Biden-Flation remains the biggest problem for job creators. More business owners reported inflation as the biggest problem last month – the highest number since 1980.
- Worker shortage continues to leave Main Street desperate to hire. Over half of owners are still struggling to fill job openings after President Biden discouraged work. Of those hiring, 94 percent of small businesses reported few or no applicants for positions they were trying to fill.
THE BOTTOM LINE: Even a “slimmed down” version of Democrats’ Build Back Better contains over $1 trillion in crippling tax hikes on Main Street and workers that couldn’t come at a worse time.
“As Americans suffer in President Biden’s cruel economy, Senate Democrats are reportedly trying to revive more tax hikes and spending that will only fuel higher prices, rob crucial investment needed to fix America’s supply chain crisis, and surrender the U.S. economy to foreign competitors.” Ways and Means Republican Leader Rep. Kevin Brady (R-TX) said in a recent statement.
Read Rep. Brady’s full statement here: Brady: Senate “Slimmed Down” Build Back Better Is an Economic Surrender that Fuels Inflation & Robs Investment Needed for Supply Chain Fixes