Page 20 - The South China Business Journal
P. 20
C. Today
Small Businesses Love Tax Reform
& are Bullish on the Economy
By Sean Hackbarth, Senior Editor, Digital Content, U.S. Chamber of Commerce
The Q1 Metlife & U.S. Chamber 47% think it will help their to provide outstanding benefits
of Commerce Small Business business grow, versus 23% for our employees and their
Index shows a surge in confidence, who think it will hurt. families, despite ever-rising health
moving up more than three points insurance costs.”
to 66.3. The Tax Cuts and Jobs Act cut
taxes on businesses of all sizes Renfro Foods isn’t alone. Ever
It’s the biggest jump in the Index and forms to spur investment, since tax reform became law last
since it was launched in 2017. innovation, and boost economic December, companies all across the
growth and wages. country have announced employee
The Index found a big leap in bonuses, new plant and equipment
small business optimism towards In response, companies— investments, and donations to local
the national economy—up 17 including small businesses—are community institutions.
percentage points (55% vs. 38%) taking advantage of the improved
since Q4 2017. For the first time, tax environment. Some other observations:
the Index shows small businesses
are more confident in the “The 20% discount on taxation 90% of small businesses expect a
national economy than their local of S-corp pass-through income good year in 2018.
economies (46%). will allow us to keep more money
in the business, which will then Nearly one-third (32%) plan to hire
A lot of this increased economic in turn allow us to invest in more more workers this quarter. That's up
confidence could be due to last machinery and warehouses,” from 27% in Q4 2017.
December’s tax reform, which Doug Renfro President of Renfro
small businesses love: Foods in Fort Worth, TX, told 39% plan to invest profits in their
Above the Fold. “Ultimately, business. Much of that will go to
54% think it will help the also, the ability to have increased higher employees' pay, investing in
national economy. profits will allow us to continue training, and hiring more workers.
“The optimism of our nation’s
small businesses illustrates how
much of a home run passing pro-
growth tax reform has already been
for U.S. workers, job creators, and
the economy,” said Neil Bradley,
U.S. Chamber executive vice
president and chief policy officer.
“National policies like regulatory
relief and tax reform are giving small
businesses new hope and a greater
ability to invest in their business
and workers, which translates into
positive growth at the community
and national level.”■
18 AmCham South China
Small Businesses Love Tax Reform
& are Bullish on the Economy
By Sean Hackbarth, Senior Editor, Digital Content, U.S. Chamber of Commerce
The Q1 Metlife & U.S. Chamber 47% think it will help their to provide outstanding benefits
of Commerce Small Business business grow, versus 23% for our employees and their
Index shows a surge in confidence, who think it will hurt. families, despite ever-rising health
moving up more than three points insurance costs.”
to 66.3. The Tax Cuts and Jobs Act cut
taxes on businesses of all sizes Renfro Foods isn’t alone. Ever
It’s the biggest jump in the Index and forms to spur investment, since tax reform became law last
since it was launched in 2017. innovation, and boost economic December, companies all across the
growth and wages. country have announced employee
The Index found a big leap in bonuses, new plant and equipment
small business optimism towards In response, companies— investments, and donations to local
the national economy—up 17 including small businesses—are community institutions.
percentage points (55% vs. 38%) taking advantage of the improved
since Q4 2017. For the first time, tax environment. Some other observations:
the Index shows small businesses
are more confident in the “The 20% discount on taxation 90% of small businesses expect a
national economy than their local of S-corp pass-through income good year in 2018.
economies (46%). will allow us to keep more money
in the business, which will then Nearly one-third (32%) plan to hire
A lot of this increased economic in turn allow us to invest in more more workers this quarter. That's up
confidence could be due to last machinery and warehouses,” from 27% in Q4 2017.
December’s tax reform, which Doug Renfro President of Renfro
small businesses love: Foods in Fort Worth, TX, told 39% plan to invest profits in their
Above the Fold. “Ultimately, business. Much of that will go to
54% think it will help the also, the ability to have increased higher employees' pay, investing in
national economy. profits will allow us to continue training, and hiring more workers.
“The optimism of our nation’s
small businesses illustrates how
much of a home run passing pro-
growth tax reform has already been
for U.S. workers, job creators, and
the economy,” said Neil Bradley,
U.S. Chamber executive vice
president and chief policy officer.
“National policies like regulatory
relief and tax reform are giving small
businesses new hope and a greater
ability to invest in their business
and workers, which translates into
positive growth at the community
and national level.”■
18 AmCham South China
