FOR IMMEDIATE RELEASE

Contact

Conan Knoll
conan@emccommunications.com, (831) 524-6764

Jared Thompson
jared@smallbusinessforamericasfuture.org, (260) 797-2530

Small business group: Economic framework announced by president presents an historic opportunity for Main Street

Statement by Rhett Buttle, senior advisor to Small Business for America’s Future and former Biden for President Business Advisor, about the announcement of a deal to pass the president’s Build Back Better agenda

Washington, D.C., October 28, 2021— The framework of a deal to pass the president’s economic agenda announced today presents an opportunity to level the playing field for small business owners and transform our economy for the better. Investments in our workforce, the care economy, and infrastructure will invigorate the Main Street economy, and small business owners are eager to see it pass swiftly.



While this framework is critical, we know it doesn’t include everything the country needs. After we pass this deal, we must keep pushing for critical policies like paid family and medical leave for every American, policies that reduce healthcare costs for small businesses and even more reforms to build a more equitable tax system for small businesses. 

However, this historic deal begins to level the playing field for small businesses by closing corporate tax loopholes, which will help prevent large multinational corporations from dodging their responsibilities. It is encouraging to see steps taken to ensure corporations pay their fair share and help provide revenue for the important investments the deal makes. Small business owners are eager to see these investments because they help Main Street businesses, families, workers, and bottom lines. 

In Small Business for America’s Future spring survey of over 1,000 small business owners, 77% said the tax code favors large corporations over small businesses, 75% say large corporations do not pay their fair share of taxes, 76% say small businesses are harmed when large businesses or corporations use loopholes to avoid paying taxes, and a majority say they do not believe raising taxes on Americans making over $400,000 a year would harm small businesses. 

The revenue raised by these reforms will cap child care expenses for every American family making under $300,000, fund universal pre-K for every child, and fuel the extension of the Child Tax Credit and Earned Income Tax Credit that will change the lives of millions of American families and help build a healthier, more stable workforce for Main Street. It is also encouraging to see investments in  the Small Business Administration (SBA) and Minority Business Development Agency (MBDA), the SBA’s effort to ensure small dollar loans reach businesses of all sizes. 

In a series of surveys by Small Business for America’s Future, small business owners have consistently shown strong support for many of the specific provisions in the deal announced today:

• This fall, two-thirds of small business owners said the federal government has a role in supporting universal access to affordable, high-quality child care, 
• 61% showed support for the Child Tax Credit. 
• Earlier this spring, a whopping 87% voiced support for affordable home care investments.

Small business owners are the backbone of the nation's economy—driving economic growth and job creation. It is essential we address the long-term needs of small business owners as we rebuild from the pandemic and the investments included in the Bipartisan Infrastructure Bill and the Build Back Better Act will deliver support to build a healthy and thriving Main Street. Congress needs to pass this deal without delay so small businesses can do what they do best—create jobs and drive our economy forward.

To request an interview with Rhett Buttle, contact Jared Thompson at (260) 797-2530 or jared@smallbusinessforamericasfuture.org.

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About Small Business for America’s Future
Small Business for America’s Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize the nation’s 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.