PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

SBE Council Responds to the State of the Union Address

By at 8 March, 2024, 10:36 am

NEWS

For Immediate Release

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

“Private sector businesses need capital and policy stability in order to help steady the choppy economic and market challenges that have persisted beyond the COVID era. Unfortunately, President Biden is pushing policies that will do the opposite – ones that extract more capital from businesses and individuals through tax hikes and regulatory directives, undermine intellectual property protections, and promote government micromanagement of large swaths of the American economy and our workplaces. This is an agenda that only serves to fuel uncertainty, limited choices, less innovation and persistently high prices, and will continue to burden American families and small businesses alike. It is an agenda that will be cheered by America’s major international competitors, as the bulk of these policies weaken small businesses and businesses of all sizes across key sectors of the U.S. economy to the benefit of countries like China.

“President Biden did not offer policy solutions to help entrepreneurs and small businesses better cope with their top challenges such as high business costs, affordable capital and credit, affordable choices in health coverage, elevated interest rates, and gaps in skilled labor. His impractical – and expensive – policy list punishes private-sector businesses for the very conditions that the President’s policies have fueled – such as inflation induced by excessive government spending, less private investment and innovation due to price controls and regulatory interventions, and general worry among consumers and businesses alike that is feeding dispirited confidence.

“The President’s partisan speech was unfortunate. Our nation’s entrepreneurs and small business owners need practical policies and support to get them through what will be another challenging year. This was not a speech and policy agenda for all Americans, and certainly not one for entrepreneurs and small businesses.”

CONTACT:

Karen Kerrigan, kkerrigan@sbecouncil.org

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For nearly 30 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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