by Joshua Shin
A small business advocacy group has teamed up with the former Republican House Speaker Newt Gingrich to announce a plan on Wednesday to boost small businesses, fix the economy and provide opportunity for all Americans. The group announced the plan at the Capitol Hill Club in Washington, DC with a variety of speakers, including Gingrich who appeared live from a virtual location.
The Job Creators Network says the purpose of their American Prosperity Plan for Small Business is to give members of Congress and their midterm challengers specific policies that would move America toward a positive, pro-growth economic agenda.
“Small businesses across the country are hurting as they endure 40 years of high inflation, the lingering aftermath of pandemic shutdowns, labor shortages and a political agenda that consistently puts entrepreneurs last,” said said the President and CEO of JCN. Alfredo Ortiz in a statement.
“The American Small Business Prosperity Plan will help reset the agenda in Washington in favor of Main Street by addressing the challenges facing small business owners with common sense policies that everyone can follow. “
The key points of the plan are to ensure that Tax Cuts and Jobs Act 2017 to prevent the expiration of tax breaks for small businesses, exempt small businesses from any new federal regulations that are easier for large businesses to absorb, and expand access to capital for small businesses.
It also contains recommendations for tackling inflation and excessive government spending, boosting domestic energy production to drive down prices, and examining how best to unblock supply chains.
“Rapid inflation has disproportionately hurt small businesses, which don’t have the economies of scale or preferential purchasing arrangements of their larger competitors,” Ortiz said during a speech to an audience in Washington. , DC Capitol Hill Club.
He linked JCN’s prosperity plan to the 1994 plan Contract with Americaa conservative legislative agenda led by then-Congressman Gingrich that saw Republicans win 54 U.S. House seats and nine Senate seats in the election that year, tossing both bedrooms.
This shift that led to the Representative from Georgia being elected as one of the most influential Speakers of the House in American history, and led to an era that the media called the “republican revolution.”
“Small businesses are both the job creators and the center of entrepreneurship from which future big businesses grow, so it’s very, very important to have the American prosperity plan for small businesses. small businesses,” Gingrich said via video link.
“And I think getting the next Congress to focus on those steps in tax policy, regulatory policy, and welfare reform that allow us to kick-start a generation of prosperity again is really, really central to the future of the country.”
Two small business owners described their struggles with pandemic shutdowns, tangled supply chains and now, soaring inflation.
“With inflation the way it is, I’ve had employees who had to quit because they couldn’t afford to come to work because of gas prices,” said Nicole Wolterpresident of HM Manufacturing, based in Chicago.
Wolter noted that the Fed’s decision to raise interest rates by 75 basis points hurts his ability to grow his business.
“When you’re trying to get a million dollar piece of gear, those base points really mean a lot, especially over a long period of time,” Wolter said. “Clearly the climate for small business has deteriorated, which is why we need Congressional support for America’s Small Business Prosperity Plan.”
When it comes to successful policy proposals lawmakers should consider, Wolter credited the 2017 Tax Cuts and Jobs Act with triggering a “tsunami of expansion” at his company.
“We were able to purchase $750,000 worth of new capital equipment. I was about to give raises and bonuses. I now pay 100% for health care,” Wolter said. “So just a little relief that a small manufacturer, a small business can get by not being taxed…it’s amazing what we can do for our team and for our community.”
Corina Morga, president of Baltimore-based CR Construction Services and an advocate for Hispanic and Native American entrepreneurs, stressed how access to capital was key to providing opportunities for “minorities or people who had never had the chance before. “. She shared how she went from cleaning toilets to owning her construction business — pre-COVID-19, that is.
“COVID almost wiped me out. 70% of my stuff was gone. I had to close my office, I had to lay off all my staff and I had to really create and pivot and if I wanted to stay alive,” recalls Morga: “Now we’re working on another set of variables here with inflation and questionable access to capital…all of that is going to be the biggest strain on people like me.”
She pointed out how many Native Americans have few economic opportunities because they are often deprived of capital or land ownership.
Morga said, “Because the tribes are on federal land, as a member of the tribe you don’t have access to ownership of your own land. If you can’t build that wealth for yourself, you’re not going to progress, even as a human being, but as a culture or as a tribe as a whole. So I can’t express how important it is to be part of an organization that truly supports the spirit of entrepreneurship.
Ortiz told DNA America that it was “breathtaking” to see how the Biden administration ignored small businesses during the pandemic.
“One of the big reasons is you don’t really have a centralized small business lobby,” he said, referring to big business influence in Washington and the mainstream media.
“Enter the network of job creators. We are not lobbyists but we are advocates.
“I don’t care if you’re Republican, Democrat, Independent, Black, Asian, Green, Blue… I don’t care. If you are a small business, we are your advocate,” he continued.
JCN called on lawmakers and congressional candidates, regardless of party, to pledge support for the plan.
“[Small businesses] are in dire straits and now they’re talking about more audits, higher taxes, more regulations. Literally the opposite of what every small business needs,” he explained.
That’s why we had to present this plan and we’re going to challenge the Democrat side because if they say they support small business then go ahead and sign because that’s what they need.
– – –
Joshua Shin is a reporter for DNA America.
Photo “Job Creators Network Press Conference” by Job Creators Network.