Small Business Finance News
Local Lawmakers Bring Mixed Views On How To Boost Jobs, Economy
Written by Jenna Weiner
Published: 9/6/2011
In anticipation of President Barack Obama's address to the nation on the economy and jobs, local officials and business owners offer their opinions on how to boost the economy.
With small business owners, unemployed workers and most Americans feeling the effects of the current economic climate, President Barack Obama prepares to address the nation soon on the administration's plans for increasing jobs and boosting local businesses. Local and state representatives, however, are offering differing opinions on what will best serve the nation and its businesses in the weak economy.
Two years after the recession officially ended, 14 million Americans remain unemployed illustrating how federal initiatives have yet to make a significant impact. U.S. Representative Mike Fitzpatrick, a Republican from Bucks County, Pennsylvania, said Americans are looking for a bold vision to help alleviate the financial burden from the recession, the Philadelphia Inquirer reported. Fitzpatrick calls for a moratorium on the "type of regulations that have been crushing the will and the spirit of the American small-business person."
U.S. Representative Robert Andrews, a Democrat from Camden County, Pennsylvania, told the website that he hopes the Obama administration will develop tax cuts for small businesses.
"I think we ought to say, if you form a business and hire people, give that small business a two- or three-year tax holiday," Andrews said. "Let them operate tax-free to get off the ground."
According to the Fort Worth Star-Telegram, regulations are not choking U.S. small businesses, in fact many small business owners welcome the regulations. In an interview with the news source, Rick Douglas, the owner of Minit Maids in Charlotte, North Carolina, said other factors such as insurance rates are hurting his business, but not regulations. According to Douglas, the federal stimulus effort has enabled his company to expand since 2008, hiring 15 people due to lowered labor costs.
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