PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Kerrigan in the Washington Times: “Small Businesses Should Beware ‘Build Back Better’ 2.0”

By at 25 February, 2022, 11:55 am

The previously debated version of Build Back Better (BBB) may be dead, but President Biden and many in his party still want to move forward on a scaled-down bill (or move specific BBB measures separately). SBE Council president & CEO Karen Kerrigan is raising the warning flag for small business America. In a February 24 Washington Times Op-ed, she writes:

Sen. Joe Manchin rightly expressed big concerns with the Build Back Better Act. Its mammoth spending and tax measures would have fueled inflation and deprived small businesses and entrepreneurs of the capital they need to survive and recover. His Democratic colleagues are trying to revamp the legislation — possibly through a piece-meal approach — to win back his support and get “something” through in an election year. Hopefully, Mr. Manchin will continue to approach BBB 2.0 with great caution and concern.

Small business owners can only hope a new bill looks nothing like its predecessor, which again, included an assortment of tax hikes, market interventions and inflation-stoking policies that would have harmed workers and Main Street businesses.

Unfortunately, there is still talk of tax increases, market interventions and price controls, and more spending on Capitol Hill and Kerrigan notes that these would make life even more painful for small businesses than it already is. She writes:

In short, if these measures make it into BBB 2.0, small businesses can expect to face more inflation, new taxes and misguided price controls in 2022. These are not the policies that small businesses and local communities need to recover and “build back better” in 2022.

Read the full Op-ed here.

 

 

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