Six Reasons to Celebrate this Small Business Saturday

November 24, 2018 — Blog   

 

The foundation of the American economy is our small businesses. And thanks to Republicans’ pro-growth agenda, Main Streets all across America are thriving.

Equipped with a new tax code that works for them, small businesses continue to expand, hire, and raise wages for workers here at home.

As Americans enter the holiday season and recognize the important role of our small businesses this Saturday, the results of Republicans’ pro-growth agenda offer plenty of reasons to celebrate.

Here are six reasons to be thankful this Small Business Saturday:

1. Paychecks for Main Street workers are growing. Wages and salaries rose 3.1 percent in the third quarter of 2018, the biggest increase in a decade.

2. American families have more money in their pockets. A typical family of four earning $75,000 will see a tax cut of more than $2,000 under our new tax code.

3. Small businesses are hiring. Unemployment is down to 3.7 percent, the lowest level since 1969. In addition, there are currently 7.1 million job openings. There has never been a better time to find a job in our country.

4. Main Street is no longer bogged down by an uncompetitive tax code. For too long, small businesses had to spend countless hours and resources on navigating a complicated and broken tax code. Thanks to the Tax Cuts and Jobs Act, our small businesses can now focus on what’s important— their customers and their workers and can create good jobs here at home.

5. First-ever deduction lowers tax burden on small businesses. Our new tax code offers a first-ever 20% pass-through business income deduction for our local job creators.

6. Small business optimism continues to soar. According to the NFIB Small Business Optimism Index, small business optimism reached its highest ever peak this year.

Our new tax code has changed the trajectory of our economy for the better, and House Republicans are committed to building on this success for years to come. Going forward, Republicans will remain steadfast in their work to ensure America is the best place in the world to start and grow a business.