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Friend,
Small businesses account for 99% of businesses in Iowa and employ more than 50% of the workers in our state. Small businesses are truly the backbone of our Iowa economy.
This week, I was honored to be recognized by the National Federation of Independent Business with the Guardian of Small Business Award for my work to support Iowa small businesses by fighting inflation, building a strong workforce, and cutting government red tape.
I frequently visit Main Streets in our district and sit down with Iowa small business owners and workers to hear about the challenges they face, and how I can help advocate for them in Congress. Recently, I stopped by The Buck Stops Here to meet with the owner, Owen. After successfully operating a food truck, he partnered with his childhood friend to open their doors in downtown Lansing. Their small business success story is so inspiring. We need to make it easier – not harder – for Iowans to run and grow their small businesses.
According to the Competitive Enterprise Institute, the Harris-Biden Administration is adding regulatory costs at a rate of $600 billion per year. These regulations disproportionately hurt small businesses. The top issues I hear about from the small business community right now are: fears that Harris would raise taxes, struggles with red tape, and the importance of a strong workforce. I am working to address these challenges and support Iowa’s small businesses:
- I’m backing the bipartisan Main Street Tax Certainty Act. This legislation makes the 20 percent deduction from the 2017 Tax Cuts and Jobs Act permanent before it expires and gives small businesses the certainty they need to plan for their futures. There is never a good time to raise taxes, but it is unconscionable to let these tax cuts expire amid this horrific inflation crisis.
- A strong workforce is vital to the success of small businesses. Earlier this year, I unveiled my Workforce Innovation and Empowerment legislative package to support Iowa workers. The package would provide a tax credit for employers that maintain a qualified training program for employees who are not seeking a college degree, empowering skilled workers to advance in their careers and strengthen our workforce. It would also identify barriers to new career paths in the energy and manufacturing sectors to help prepare workers to take on new opportunities in these in-demand fields.
- I have also worked to cut onerous regulations that slow down small business growth and make it harder for entrepreneurs to launch their ideas. I introduced the Red Tape Reduction Act to codify Trump-era deregulatory policy, including cutting two regulations for every new one. That is the correct ratio.
As I travel across our district and visit small businesses, I’ve seen ideas turned into reality, customers turned into family, and stores that are engrained in the fabric of their communities. I’ll continue advocating for policies that help our Main Street community – small business owners, workers, and aspiring entrepreneurs – thrive and continue contributing to our economy.
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