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Contact: Jack Mozloom, 202-406-4450 or 609-462-5610 (cell), jack.mozloom@nfib.org
Follow @NFIB on Twitter
NFIB Supports American Health Care Act
America’s leading small business group urges bipartisan support for Obamacare repeal legislation
Washington, D.C. (March 14, 2017) – The National Federation of Independent Business (NFIB) today issued the following statement on behalf of President and CEO Juanita Duggan in support of the American Health Care Act:
“Small business optimism has soared since November because small business owners anticipate a change in policies. Driving that optimism is the expectation that Congress will repeal Obamacare, which has been devastating to small businesses. The American Health Care Act would repeal the most punishing elements of Obamacare, including the massive tax increases and mandates that have increased costs, limited choices, and smothered job creation.
“This will be a key vote for NFIB. Our members will pay very close attention. Every member of Congress who cares about small business should vote for this measure. There’s a lot more work to be done in order to make the health care system affordable, flexible, and predictable, but the American Health Care Act is a necessary first step.”
NFIB sent a letter to members of Congress yesterday informing them that the American Health Care Act will be a key vote. The organization was the lead plaintiff in the Supreme Court case, NFIB vs. Sebelius. The focus of its case was the individual mandate, which the American Health Care Act would repeal.
According to NFIB research, the high cost of health care has been identified by small business owners as their top concern for the past 30 years. For more information about NFIB, please visit www.nfib.com/advocacy/healthcare.
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For more than 70 years, the National Federation of Independent Business has been the Voice of Small Business, taking the message from Main Street to the halls of Congress and all 50 state legislatures. NFIB annually surveys its members on state and federal issues vital to their survival as America's economic engine and biggest creator of jobs. NFIB’s educational mission is to remind policymakers that small businesses are not smaller versions of bigger businesses; they have very different challenges and priorities.
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CONTACT: Kelly Klass, 609-713-4243, Kelly.Klass@NFIB.org Follow @NFIB on Twitter
Small Business Optimism Remains Near Record High
Small-business owners continue to have high expectations for Washington
Washington, D.C. (March 14, 2017) – Small business optimism remained at one of its highest readings in 43 years, as small business awaits a new healthcare law, tax reform, and regulatory relief from Washington, according to the February National Federation of Independent Business (NFIB) Small Business Optimism Index, released today.
“It is clear from our data that optimism skyrocketed after the election because small business owners anticipated a change in policy,” said NFIB President and CEO Juanita Duggan. “The sustainability of this surge and whether it will lead to actual economic growth depends on Washington’s ability to deliver on the agenda that small business voted for in November. If the health care and tax policy discussions continue without action, optimism will fade.”
The Index fell 0.6 points in February to 105.3 yet remains a very high reading. The slight decline follows the largest month-over-month increase in the survey’s history in December and another uptick in January. Three of the ten components increased, six declined modestly, and one was unchanged. Despite a small decrease, nearly half of owners expect better business conditions in the coming months.
“It is encouraging that the Index has persisted at 105 for three months in a row,” said NFIB Chief Economist Bill Dunkelberg. “Although optimism remains high, growth is still a problem because of restrictive government policies.”
The job openings component reached its highest level since December 2000, but more owners reported difficulty finding qualified workers to fill open positions. Dunkelberg said that the scarcity of qualified workers is pressuring owners to raise compensation to retain and attract good employees. Twenty-six percent of small business owners reported raising compensation, one of the highest readings since February 2007.
“Many small business owners are being squeezed by this historically tight labor market,” Dunkelberg said. “They are not confident enough to raise prices on consumers, which limits how much they can increase compensation and makes them less competitive in attracting qualified applicants.”
Business owners reporting higher sales improved four percentage points, rising to the first positive reading since early 2015. The percent of owners expecting higher real sales fell three points to a net 26 percent. This follows a 20-point rise in December and remains positive.
Capital spending among small business owners rose two points to 62 percent, the second highest reading since 2007. Owners reported spending on new equipment, vehicles, and improvement or expansion of facilities. The percent of owners planning capital outlays slipped one point to 26 percent. Duggan said after years of ball-and-chain regulation and poor economic growth, small businesses are ready to invest.
“Small businesses will begin to turn optimism into action when their two biggest priorities, healthcare and small business taxes, are addressed,” said Duggan. “To small business, these are both taxes that need reform. It’s money out the door that strangles economic growth.”
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For more than 70 years, the National Federation of Independent Business has been the Voice of Small Business, taking the message from Main Street to the halls of Congress and all 50 state legislatures. NFIB annually surveys its members on state and federal issues vital to their survival as America's economic engine and biggest creator of jobs. NFIB’s educational mission is to remind policymakers that small businesses are not smaller versions of bigger businesses; they have very different challenges and priorities.
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