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President Biden Still Seeking Tax Hikes on Battered Main Street During Small Business Week

May 3, 2022 — Blog    — Press Releases    — Select Revenue Measures    — Work and Welfare   

After the pandemic ravaged small businesses across the country, vaccines and a reopening economy promised to help Main Street get back on its feet. But Democrats’ policies created inflation and a labor shortage that are now getting in the way of a full recovery. Worse, President Biden is still considering raising taxes on small businesses. 

Small businesses are “looking at a slew of tax increases that would hit them from every angle”:

Small businesses suffer under Bidenflation: 

  • More than 60 percent of American job creators are worried Bidenflation will close down their business, a recent poll finds, with the vast majority noting that they’ve been forced to raise their prices in the last year. 
  • Another study showed that small business optimism is at record lows.
  • Recent polling from the Small Business and Entrepreneurship Council shows that only 9 percent of small businesses say President Biden’s policies make it easy to start and grow a business
  • A Goldman Sachs survey of 10,000 Small Businesses found 91 percent of small business owners say broader economic trends, such as inflation, supply chain issues, and workforce challenges, are having a negative impact on their business.

Family paychecks are falling further behind: 

As Job Creators Network’s Alfredo Ortiz recently testified: “Under President Biden, minority small business owners worry about inflation, the worker shortage, and supply chains.”