Published
April 30, 2018
This week the U.S. Chamber of Commerce joins with all Americans to celebrate National Small Business Week. This is an opportunity to show our appreciation for the backbone of our nation’s economy: the small businesses that employ more than half of all Americans and create about two out of every three new jobs each year. The Chamber is proud to represent millions of these businesses all around the country.
We fight for their interests every day in Washington, D.C., on the big policy issues before our government. We do it because America succeeds when small businesses succeed — and our economy grows when they grow. We also know that the reverse is true — small businesses succeed when America succeeds.
Small businesses have a better shot at growth and success when America has an innovative, vibrant, and growing economy; a pro-growth tax code; a well-trained workforce; and a position of strength in the global marketplace. This is why the Chamber consistently makes the case that small businesses are significant stakeholders in the big policy battles happening in Washington.
Since we last marked Small Business Week, the Chamber has helped deliver a historic policy win through the pro-growth tax reform bill signed into law last December. Small businesses suffered tremendously under our old tax code. Unlike larger businesses, they often couldn’t afford to hire teams of accountants and lawyers to help them navigate the various rules. The Chamber worked throughout the tax reform process to ensure that the final package benefited all businesses, including the many small businesses that file as pass-through entities.
Ever since enactment of the legislation, small business owners have had more capital to pour into investments, employee raises, new jobs, and growth. For example, Rudaina Hamade, owner of the small real estate management firm RPMS Group, LLC, explained the benefits this way: “We started providing bonuses in the range of $1,000–$2,000 for our employees, increased the capital investment budget for 2018 to upgrade our computer system, and have more money to set the stage for growth and expansion.”
Tax reform is one of many policy victories delivered for the small business community under the current administration and Congress. The Chamber will continue speaking up on behalf of the small business community this week and every week. And we encourage all Americans to join us in celebrating — and patronizing — the restaurants, retail stores, manufacturers, service providers, and other small businesses that create jobs and drive economic growth.
About the authors
Thomas J. Donohue
Thomas J. Donohue is advisor and former chief executive officer of the U.S. Chamber of Commerce.
