PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Entrepreneurs are Doing Their Job Creating Jobs, Now Congress Needs to Support Them

By at 1 November, 2019, 11:15 am

National Entrepreneurship Month Provides Opportunity to Act on Bipartisan Initiatives

NEWS

FOR IMMEDIATE RELEASE

Washington, D.C. – Today, the U.S. Department of Labor reported that 128,000 jobs were added for the month of October. Job growth for August and September was also revised up (160,000 to 219,000 and 136,000 to 180,000 respectively.) The unemployment rate came in at 3.6%, and year-over-year hourly wages increased by 3%.  In response to the report, Small Business & Entrepreneurship Council president & CEO Karen Kerrigan noted the solid work of the business community in spite of headwinds related to health coverage costs, the very tight labor market, trade uncertainty regarding USMCA and China, and various political matters.

“Small businesses across America continue to plow forward with hiring and growth plans even though they are not getting useful support from Congress. Recently, the House passed legislation to impose a massive new reporting requirement on small businesses. Over in the Senate, thankfully, legislation was voted down that would have taken away a tool being used by the states to offer more affordable health coverage for small businesses and their employees.

“Congress has yet to relieve small business owners from the burden of the health insurance tax, despite the fact that there is bipartisan support to do. The same holds true for surprise medical bills and various regulatory relief measures. In addition, we strongly believe USMCA would pass the Congress if House Speaker Nancy Pelosi would allow a vote. USMCA is very important for small businesses that do business in Canada and Mexico, as well as small business suppliers who support larger businesses in exporting to these markets.  The modern agreement provides big opportunities for small business expansion. Clarity on USMCA will boost business investment, which declined for a second quarter in a row.

“November is National Entrepreneurship Month, and we hope that beyond the usual declarations and press releases from members of Congress, that all members get to work and urge action on bipartisan legislation already in the pipeline to support small business growth and startup activity.”

Contact:

Karen Kerrigan, SBE Council president & CEO

e-mail: kkerrigan@sbecouncil.org

SBE Council is nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 25 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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