Rep. Pete Olson (TX-22) recently heard about the impacts of federal regulations on small businesses from Andres Novoa, who owns and operates a restaurant in Richmond, TX. Novoa urged Congress to help provide relief from the Obama Administration’s taxes and regulations that are causing uncertainty for small businesses. He echoed the pleas of other small businesses struggling to stay afloat and create jobs in this economy. A video clip of the interview can be found here.
Andres Novoa said, “To the President, I would say, look in the perspective of the small businesses. Because small businesses, we employ people. We help, we do our share here in the community. We serve our community, we give back to our community, but we need those incentives. Inside it’s a business – our marketing, our cost efficiency – but there are some things I cannot control. We cannot control the additional increases that we’re getting in taxes and other factors that affect us. That’s why we want Washington and President Obama to understand what we’re going through as a small business.”
Rep. Pete Olson said, “Texas small business owners repeatedly tell me that the Obama Administration’s higher taxes and burdensome regulations hurt their ability to expand their operations and create jobs. Our complicated tax system and higher taxes included in the President’s new healthcare law cause great uncertainty for small businesses. Oppressive rules increase production costs, which then have to be passed on to consumers – further weakening our fragile economy.
“We have passed legislation in the House to stem the tide of excessive, job killing regulations. More regulations don’t make sense, especially in the midst of a weak economy. We must reform our tax code to help these businesses grow, employ Americans, and stabilize our economy.”
Small businesses need comprehensive tax reform:
· A recent survey from the Job Creators Alliance underscores the call for comprehensive tax reform made by the House, the Senate and the White House.
· The survey reveals that small businesses cite taxes as the most important issue facing them, with respondents voluntarily identifying taxes twice as often as any other issue.
· According to the survey, the other important issues facing small businesses are health care, regulations, the economy, and the budget deficit.
Small Biz Reg Watch Initiative:
· The House Small Business Committee recently created the Small Biz Reg Watch, an initiative to help small businesses voice their concerns about the Obama Administration’s numerous executive orders and regulations.
· According to the National Federation of Independent Business, “there are currently 4,128 federal regulations in the pipeline which, if implemented, will impose costs of more than $515 billion on the U.S. economy.”
· The Small Business Committee reports that small businesses “pay a regulatory compliance cost that is 36 percent higher than large businesses,” when they also must face rising health care and energy costs, and the threat of more tax hikes, according to a recent Gallup survey.
The Small Biz Reg Watch will highlight pending regulations for small business owners, and give them the opportunity to speak out about how the rules and regulations in Washington affect their ability to create jobs and grow their business. This is another step towards our Plan for America’s Job Creators to help small businesses by reigning in the Obama Administration’s overregulation. The House has already passed multiple bills to target burdensome federal regulations that hurt small businesses and hamper job creation, and will continue working to hold the Obama administration accountable for the impact of its excessive regulatory agenda.