Small businesses are more optimistic now than they have been in the last six years. That’s according to the latest Small Business Optimism Index by the National Federation of Independent Business. State Director Leah Long says small business owners are looking forward to the upcoming change at 1600 Pennsylvania Avenue.
“Small business owners are more hopeful about the economic agenda of the new administration. We’re getting some eases when it comes to inflation and a labor shortage,” Long said.
Here locally, Long says the reduction in the income tax will be a big boost to small business owners.
“When small business owners save that money, they’re able to re-invest into their business, whether they grow, whether they hire more employees,” Long explained.
Long says one thing that small business owners want out of the new administration is the reauthorization of the Main Street Tax Act.
“We’re urging congress right now to make that permanent. It does expire this year, so most small business owners have a 20% deduction. So, obviously, if that’s not reinstated, that’s a huge hit to small business owners,” Long said.
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