Small business is the backbone of our economy in the Eighth District of Missouri. Government regulation does not create jobs, but instead inhibits small businesses. Seven out of ten jobs are created by small businesses. Washington should encourage, not overregulate job growth and small business creation.
We must focus on reforming our tax code. By simplifying the thousands of pages of IRS regulations, small business owners can focus on building their business instead of filling out complicated tax forms. Red tape is strangling our small businesses and money spent on regulations detracts from budgets that could be spent on growing businesses and hiring more employees.
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Small Businesses. They are the driving force behind our economy and there is truly nothing small about them. 97.5% of all businesses in Missouri are “small” and there are nearly 20,000 small businesses in southeast and south central Missouri. Across America, small businesses employ over half of the workforce and create 7 out of every 10 new jobs.
WASHINGTON, D.C. – Today Congressman Smith voted to keep a $622 billion tax increase from hitting American families. One of the most important provisions for farmers and small business owners in the Protecting Americans from Tax Hikes (PATH) Act is providing tax relief for equipment and property purchases through Section 179 of the tax code. The PATH Act would make permanent Section 179 expensing, allowing for an immediate deduction on equipment purchases for farmers and small business owners.
Washington, D.C. – With today’s bipartisan passage of the Trade Facilitation and Trade Enforcement Act, Congressman Jason Smith stood up for local manufacturers.
The Trade Facilitation and Trade Enforcement Act fosters economic growth to allow businesses to thrive in the 21st Century global economy by stepping up enforcement of trade agreements, reducing barriers to legitimate trade, making American exports more competitive, and facilitating small business competition in the global marketplace.
America needs a healthy economy that puts folks in control and on the path to financial independence, but last week five unelected bureaucrats at the National Labor Relations Board (NLRB) made a decision to set our economy back and hurt job growth. The NLRB, a federal agency that oversees the organization of labor unions, opted to change the way employees at franchises like McDonald’s, Colton’s Steakhouse, or Anytime Fitness are characterized. This decision will have a devastating effect on small businesses and job creators across the country.
Music filtered out of her workshop as she worked, faintly covering the sound of a large fan that ticked close by.
WASHINGTON – Friday, Congressman Jason Smith reintroduced H.R. 1155, the Searching for and Cutting Regulations that are Unnecessarily Burdensome Act (SCRUB Act) in the U.S. House of Representatives, and today the House Judiciary Committee is holding a hearing on the proposed legislation. This bill, previously introduced by Congressman Smith in the 113th Congress, would reduce the ineffective and intrusive federal regulations holding back economic opportunity.
WASHINGTON – Today, Monday, June 30, 2014, the Supreme Court ruled in favor of Hobby Lobby in the case of Burwell v. Hobby Lobby. The case involved a challenge to the HHS mandate that requires businesses to provide insurance coverage for certain drugs and devices that are contrary to the religious and moral beliefs of the family-owned business.
Nothing kills jobs and hurts our economy in rural Missouri more than regulations from bureaucrats in Washington. With each passing day federal agencies like the Environmental Protection Agency and the Department of Labor create more and more rules that are forced on individuals, small business owners and farmers who are struggling to make ends meet. At a time when our economy needs to grow, regulations are holding back innovation and the American entrepreneurial spirit.