A banner that says small business for america 's future
A banner that says small business for america 's future

SBAF's Policy Priorities

A Plan to Reinvigorate Main Street

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Small businesses are essential to the fabric of American society, having generated over 70% of the nation's net new jobs since 2019, and are the economic engine of local communities across the country. Americans are embracing entrepreneurship at unprecedented levels with a record 20 million small business applications filed since 2021. The success of new and established Main Street entrepreneurs — who drive innovation, create jobs, and strengthen neighborhoods in every state — is critical to building economic prosperity for all Americans. 

 

SBAF is committed to advancing policies that allow small businesses to reach their fullest potential and maximize their impact on the economy. Outlined below are policy positions that support entrepreneurship and prosperity.

  • Healthcare: Affordability & Accessibility – Supporting Policies that Impact the Drivers of Cost
    • Strengthen and build on the Affordable Care Act
    1. With nearly 24 million Americans signing up for plans this year, policymakers should strengthen the ACA so self-employed entrepreneurs and consumers can have access to quality, affordable healthcare coverage regardless of employment status.
    • Address market failures driving cost increases
    1. This includes combating hospital consolidation that reduces competition and raises prices, implementing reforms to lower prescription drug costs, which are nearly three times higher in the U.S. than in comparable nations, and addressing surprise billing and other market distortions that disproportionately affect small businesses.

  • Taxes: Create a tax code that helps small businesses succeed
    • Reimagining tax policy
    1. Tax credits for the smallest businesses to encourage entrepreneurship and support new businesses and jobs
    2. Simplified deductions
    3. Enhancing Tax Code for Small Business Growth
    • Simplifying the tax process and closing corporate loopholes enacted in 2017 
    1. Review and close corporate-only loopholes
    2. Global minimum tax
    3. Address partnership basis shifting
    • Investing in the IRS
    1. Simplified processes for small businesses
    2. Small business hotline
    3. Fighting the deficit


  • Economic Security: Build a stable economy that puts the strength of small businesses at the center of policymaking
    • Access to capital 
    1. We need stronger financial protections, including transparency requirements for small business lending and targeted SBA loan programs for the smallest businesses. These protections would help ensure fair competition and support both new and established small businesses.
    • Avoiding economic uncertainty 
    1. Federal government stability is essential to the success of small businesses, so Congress must end the political cycle that regularly threatens government shutdowns and debt limit crises. These manufactured crises have become increasingly common, threatening our economy and placing undue burdens on America’s small business owners. 
    • Workforce benefits 
    1. One definite way of creating these opportunities is by reducing the cost and complexity for businesses to provide workforce benefits that will attract employees and reduce employee turnover. Specifically, policymakers should create tax incentives and streamlined processes for small businesses to offer key benefits, while also supporting the development of a system of portable benefits that follow workers as they move across jobs or out of the workforce to start a business.
    • Making government work for everyone
    1. SBAF believes that small businesses play an essential role in strengthening the U.S. democracy, starting in their local communities as trusted leaders. The private sector has a role in rebuilding trust in democratic institutions, standing firm against threats to democratic norms, empowering civic engagement, promoting fact-based discourse, supporting electoral systems, and working toward depolarization and finding common ground.

     

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