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John Arensmeyer of the ‘Small Business Majority’ on how small business owners are reacting to bill
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More issues -- small businesses as well as individuals are facing -- to talk more about all of this we have John.
-- -- the CEO of the small business majority joining us from San Francisco John good morning.
Good to -- -- aren't happy new year.
Happy new year sought just like to take it away how do you think small businesses are affected by.
The deal that we have on the on the fiscal -- Well I think this was you know is good deals we -- get -- it was necessary to create some certainty in the market.
It protects the tax cuts for over -- 97% of small businesses.
It extends some really key business tax provisions like the research and experimentation.
Credit -- deduction of for.
Capital expenditures and some key clean energy.
Provisions.
And it reduces the deficit by a 615.
Billion dollars.
-- we have a lot of work to do is a lot more to do but it is a very necessary first step in the process.
It's still so is it safe to say that about 3% a small businesses will make.
450000.
Or a year or more it is that the numbers for -- It's actually less and that is 3% would have been over 250000.
Probably more like one or 2% over 450000.
Regardless it's it's -- if it protects the cuts for for the vast majority of spot checks.
Let's -- it went to cool what -- payroll.
These payroll tax cut expiring though as those rates revert back to six point 2% that affects everybody right.
Everybody will -- get tax hike this year.
No absolutely and in fact that we're we're disappointed that that didn't get -- it didn't seem to be on the radar screen of either Democrats or Republicans unfortunately.
And you're actually right -- it's gonna have an immediate impact on negative impact on small business.
But you know by and large -- the overall -- was good but that that is a disappointment or agree with you.
Which message to congress right now.
You could say something directly to them all -- debate.
Well I'd say first of all I'm glad that this was a bipartisan effort and hopefully it heralds the beginning revenue by a bipartisan focus on on solving some of these problems.
There's a lot of work to do.
We still have to deal with the deficit but more importantly we have to do it in a balanced way our polling of small business owners.
Shows that there's still -- bigger concern about the economy growing and there is about the deficit and in fact we're never gonna pull out of the deficit.
If the economy doesn't doesn't grow so there needs to be a really good faith bipartisan effort to to deal with to deal with.
Our fiscal problems going forward.
Are you confident that next month while we have to -- with spending cuts and the debt ceiling are you confident that -- Felix who worked together that I mean technically we did go over the fiscal cliff because they've got the deal after the new year are you confident that that next clip will be able -- To solve it in time.
Well I think were heartened by the effectiveness was truly a bipartisan deal mean when was the last time you saw an 89 to eight vote in the senate and it has been difficult -- -- -- -- post -- -- Hello for for -- with that kind of a vote so.
You know we we like look at this optimistically.
There is a ton of work to be done.
And we have to make sure that that any.
Changes we make in the tax code.
Are targeted in a way that benefits small business there's a lot that we can do with the corporate tax code.
There's a lot of of fat in there of deductions and credits for.
Big companies for offshore for listening.
Money overseas that does not benefit small business has a lot more opportunity to.
To attack the deficit by going after those sorts of problems.
Certainly.
-- you know responsible.
Spending cuts that don't hit the middle class don't have small business don't take money out of the pockets.
Of -- consumers right now we think would would make a lot of sense on the other a lot of difficult decisions to make IM were heartened by the fact of the system a bipartisan manner.
Right but -- so a lot of pessimism out there -- we're gonna pull some sound -- now.
You take a listen we can discuss it on the other side but this is what lawmakers have to say about about the negotiations take us.
Virtually no one believe these that what we have before us tonight.
Is a long term solution.
To this problem the problem as we set up stream our fiscal -- well look back on this night.
-- -- -- -- That's sounds a little pessimistic to -- and and -- said the big problem is economic growth because that's not -- be your looks like it won't be as robust this year.
If you even want to call it robust in 2012 but.
Certainly less right.
Less growth ahead.
Well I think we're seeing some signs that the economy is rebounding and unemployment is lower than it's been an over four years.
So this is good we we did some polling about two months ago on the show that business owners were actual business owners were actually.
More optimistic than they've been a long time there are planning to to higher.
On its cautious optimism and as I said in his obvious -- -- a lot of work for congress to do.
And we -- a long way to go forward we've recover from this recession.
I know that's -- -- I.
It's -- this recovery that's so shaky and so tenuous that you try to believe it he gets small signs particularly in the housing market -- we should believe that.
But it's so shaky that it can break at any minute and -- while this discussion of spending cuts and tax hikes becomes even more crucial.
Actually I mean that's why it's so important that congress the new congress come back in and get back to work on these -- -- And you know the fact I mean on the one hand the fact that there's some deadlines ahead you know creates some some -- on the other hand.
It may be a spur to a new congress a lot of new members coming and with new ideas to to sit down and work together.
And which -- actually correct if we don't -- if we don't.
Focus on continuing to grow the economy keeping money in middle class -- in hand middle class -- are the consumers of small business -- of products and services.
And make sure that any changes we make our targeted.
That are targeted in such a way that they don't adversely impact the vast majority of small businesses and no class consumers.
And I think congress and the president can play a role in continuing to push this recovery forward.
Well let thank you so much John Aaron -- the CEOs small business majority a web -- small business majority -- or is on our screen.
Thank you so much for coming on enjoy -- -- there in California.
Thanks for having me take care.
