by NEE
New Survey Reveals that 63.8 Percent of Small Business Owners Think Trump’s Policies Have Helped Their Business
A new poll from the Job Creators Network shows that the majority (63.8 percent) of American small business owners believe that President Trump’s policies have helped their business.
Small business owners also sided with Republicans on economic management: some 57.5 percent believe that Republicans do a better job at managing the economy, compared to only 14 percent who preferred Democrats.
Finally, the survey shows that businesses overwhelmingly supported President Trump’s Tax Cuts and Jobs Act—68 percent viewed if favorably or somewhat favorably, and 58 percent says it directly benefits their business.
Alfredo Ortiz, the Job Creators Network president, commented on the results. As reported by the Free Beacon:
As revealed in these survey results, small business owners and their employees are solidly behind the policy pursuits of President Trump. . .
The historic tax cuts legislation is already having positive impacts on small businesses and our economy—financial savings are being directed towards employee bonuses, wage bumps, increased capital investment, and business expansion.
His observation is quite right: many American companies celebrated the passage of the tax reform bill by giving employees big bonuses. Starbucks, for example, is giving out some $250 million in wage hikes and bonuses.
And earlier today, Home Depot announced that it will award employees up to $1,000 in “tax reform bonuses”. All good news for American workers.
Ortiz also notes that although tax reform was important, it’s not the only reason businesses are celebrating:
Obamacare—a set of regulations that have caused health care costs to skyrocket—continues to be addressed by the Trump administration, which is working to replace it with a policy that will work for all Americans. . .Small businesses are behind the president’s moves to slash burdensome regulations and promote pro-business, pro-growth policies.
Obamacare is another major cost for businesses—both small and large. One of the main problems was that the costs spiraled out-of-control. In fact, a report from earlier this year found that the average cost for a family plan was around $19,000 per year—far beyond the means of most middle class Americans, not to mention the poor.
High healthcare costs made it very difficult for small businesses to hire new employees, since employer contributions to their healthcare may add to their salary by one-quarter.
As President Trump continues to tackle Washington’s web of red tape, we should see economic growth rebound further.