PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

SBE Council Statement on President Biden’s SOTU Address

By at 8 February, 2023, 10:07 am

NEWS

For Immediate Release

Washington, D.C. – In response to President Biden’s State of the Union address, the Small Business & Entrepreneurship Council (SBE Council) issued the following statement:

SBE Council president & CEO Karen Kerrigan said:

“We agree with President Biden’s about America’s story. It is one of ‘progress and resilience,’ for this is the story of American entrepreneurs and small businesses. They are the innovators, job creators and risk-takers who continue to power our economy forward in good times and in bad. Entrepreneurs and their workers showed remarkable ingenuity during the pandemic and its aftermath, and thanks to the wider adoption and deployment of digital tools and their connectivity, more people than ever before want to launch a business. They see opportunity in the growing and innovative digital economy. However, intrusive regulatory barriers and costly rules being pushed by the Biden Administration will undermine this renewed entrepreneurial spirit and small business success. We urge President Biden to direct his economic team and cabinet to listen and engage with entrepreneurs and the small business community to learn exactly what these policy threats are so that progress and resiliency will abound in the coming year.”

SBE Council chief economist Raymond J. Keating added:

“A quick review of key data show that the President’s statements on the economy are more spin than substance. For example, while we should be bouncing back strong from the pandemic, real GDP growth in 2022 registered a sluggish 2.1%, which is far short of the average rate of 3.1% over the past seven decades. Our economy needs policies that encourage investment and entrepreneurship. If the president is serious about re-energizing economic growth and opportunity, then he needs to move away from – indeed, reverse course on – his agenda of higher taxes, hyper-regulation, protectionism, and higher government spending.”

SBE Council recently released its 2023 Policy Agenda for Entrepreneurs and Small Businesses, which can be accessed here: https://sbecouncil.org/2023/02/06/2023-policy-agenda-for-entrepreneurs-and-small-businesses/

CONTACT:

Karen Kerrigan, kkerrigan@sbecouncil.org

Raymond Keating, rkeating@sbecouncil.org

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 28 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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