In a video series for the National Federation of Independent Business (NFIB), small business owners shared that President Biden’s proposed mandates and tax hikes would threaten their ability to survive, operate, and recover from the pandemic.

 

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Stan Crader, owner of Crader Distributing in Missouri said:

“The unnecessary taxation just eludes the financial strength of a small business. It can hurt a community, particularly a business such as ours if we’re the primary employer in the community… it could cause a business to be sold.”

 

Wayne Rabalais, owner of Rabalais Business Consulting in Lafayette, Louisiana, said:

“Any type of tax increase right now will be detrimental to small businesses in all areas, especially in south Louisiana. […] Businesses are hurting. It would be the same as businesses that are going through forest fires, tornadoes, floods. The small business folks that we talk about provide almost 80 percent of all the new jobs in this country.”

 

Jason Hall, owner of seafood company Washington Crab, said: 

“We are definitely concerned about the tax increases that the current administration is proposing to Congress. […] That extra 5-10 percent [tax] doesn’t sound like a lot to everybody but to a business owner that makes a huge difference on our bottom line and how we can compensate our employees.”

 

KEY BACKGROUND:

President Biden is threatening tax hikes just as Main Street businesses recover from the pandemic.

• Millions of Main Street job creators would be left shouldering the burden of Democrats’ small business tax hike.
• In what Ways and Means Committee Republican Leader Rep. Kevin Brady (R-TX) termed the “biggest economic blunder of our lifetime,” the tax hikes threatened in President Biden’s $4 trillion tax-and-spending bill will slow the economy, drive U.S. jobs overseas, and hammer small businesses.

Small businesses are still desperate for workers after President Biden’s economic policies discouraged work.

• Main Street businesses are already struggling under crushing hiring challenges after President Biden discouraged work.
• Democrats have held back our recovery by paying lavish unemployment bonuses, sending stimulus checks after the economy was already recovering, and creating “emergency” social programs without work requirements.

Bidenflation is crushing America’s working families and small businesses.

• Facing the highest inflation in 40 years, almost a quarter of small businesses agreed in a survey that inflation is the biggest problem in operating their business.

Two thirds of businesses have had to pass costs onto consumers in higher selling prices due to Bidenflation.