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What the SOTU Meant for Small Business

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    NASE's Katie Vlietstra points out the key issues for small businesses in last night's speech.

  • Duration 8:56
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In last night's State of the Union Address President Obama focused a lot of time.

Discussing how to help revive the middle class saying that it's the basic task of government to make sure that hardworking people can get a hat.

Now according to Katie the last director of government affairs at the national association of the self employed.

22 million of those hardworking people -- small business -- are self employed.

-- -- top of us this morning about how she about the president did and what potentially positive or negative things happened during the president's speech.

Katie thank you so much for being here.

Good morning so what do you.

It was the most important thing president Obama's sad about my business -- and I.

Well one -- things that I thought he really tight.

Allowed for some remark was -- -- the tax reform.

As we are no chairman can't by the Ways and Means Committee last year put together a path forward for both individual -- comprehensive.

Corporate tax reform.

I think the president -- -- signaling last night that he was willing to work with both house and senate leaders are on this comprehensive tax reform bill.

Really gave -- camps -- covered so we're really excited to see.

And how this process works out both in the house and the senate and we're encouraged by -- Obama's words last night.

Going back to tax form I -- do you think something is actually gonna happen now.

You know I think this is going to be a very tough issue.

You know we have that pre holiday deal that was -- And that you have right now with sequestration the budget deal.

We have Democrats were coming out and saying no more tax cuts we need tax increases up in the wealthiest 10%.

But I think what chairman camp and hopefully when President Obama are looking is that.

With an individual in a corporate tax reform overhaul we are really gonna get fat.

Leaner easier tax code that is definitely gonna benefit the middle class and -- wholeheartedly benefit.

The 22 million self employed that don't need any more burdens would it would it comes to running their business and how they operate.

And taught -- a little bit about their burdens right now.

So most -- them later schedule C filers which means that you file their taxes four times a year.

Now I know most of us like credit shall we have to Russia April 15 to file just our taxes once a year and so what I hope that will come out.

The house Ways and Means Committee and President Obama will -- it's a lot is a much easier tax process.

You know maybe we're not gonna see this schedule C filers go down from -- -- wine.

But I think you're gonna see something -- easier that's not allow them to you click a couple of boxes auto fill in seven.

Numbers and then they're gonna be done.

And that's what we're really looking for we seen.

You know the administration acts when it comes a simplification of tax.

Code we just out with -- -- home office deduction.

So we think there are other ways that -- we're working together that we -- with the burden off a small businesses when it comes to tax issues.

Small business is obviously make up so much of the economy why do you think we've made it so difficult for back.

You know I think this is one of those things where you know whoever screams the -- -- it's the most attention.

I think that the small business.

You know our our very dedicated -- day out of running their business they see some times.

How ineffective.

Their leaders can be in Washington is so they're almost dismiss its U.

The opportunity that life can be made easier by being advocates for themselves and so that's how the national association for the self employed kind of fills and it says.

Know your voice is really important we need to get up -- because you're seeing.

You know major fortune 100 -- 500 companies you know yelling about their problems but the self employed -- actually too busy to be running their businesses to be up here.

Lobbying congress and so we're really trying to fill in the whole.

To make sure that they know that there are ways is an important part of the dialogue going on a that they have to be hurt because.

When you look at the numbers and you look at the economic growth it's within the small business self employed sector and so.

As we continue to go up to capitol held talks the administration I think our voices being heard.

And I think -- understanding that you know.

The business community is much bigger.

An actually much smaller when you -- in the self employed and what -- what it kind of legislative issues need to be addressed.

What do you think about lowering the corporate tax rate.

You know I think.

You know one of our biggest issues that we have is competitiveness.

You know our members are necessarily impacted directly with the corporate tax rate but they do think that slowing are corporate tax rate is actually a good mechanism for.

All businesses to -- I guess return of an asset -- the United States.

You know there's a lot of entrepreneurs out there who -- or who have now a very small business that want to grow.

To being you know the next big seeing so lowering the corporate tax rate will definitely benefit those entrepreneurs.

Who are looking to start their business in the United States can keep their business in the United States.

And what do you think about the idea of getting things back to being made in America manufacturing -- -- -- -- I definitely think that the united -- workforce.

The you know manufacturing sector is something that has unfortunately you know had seen better days it's -- I think as we're looking to how can we expand our economic growth here we have to look at manufacturing and so that.

Made in America.

Kind of slogan is important -- -- think there's a ton of investment opportunity here.

-- do you think it's more than just a slogan I mean do you think that it actually that manufacturing in the US could actually really come back full force.

I don't I don't see why not I think that we have to really put our heads together.

I think you have at it -- I think that's great for small businesses that you're gonna have supply chain.

You know growth -- so.

Maybe you know our small business self employed individuals -- Actually assembling you know the car or this.

Our the -- but they're going to be able to provide a product to that end result which will be amazing and I think there's.

I think our opportunities are limitless here and you know.

Moving forward if we're gonna have to look at everything across the board and where we can grow it every single sector and move forward as the country.

And what about raising the minimum wage do you think -- -- potentially hurt small businesses.

You know this is something about we are not prepared prepared for a last may win President Obama announced a minimum -- increase from 725 to nine dollars in so.

We're gonna look at this very closely of course we think that Americans at our our workforce should be paid a wage that allows them.

It's live and prosper but this is.

Of concern to us and we're gonna go look at the data and talk -- members and see what they say about it and see how it would impact impact their business are we looking at something where.

To -- diet and gold that the president spoke about we see a veto -- -- hike.

You know over -- couple of periods of years and months that we see how that economic growth goes and to -- peel back so.

We're gonna look very closely at this and you know we're gonna -- to make sure our members are comfortable with that if they're not -- we're gonna make our voice heard not.

I mean why why were you surprised do you really do you think that this is the time to be raising minimum wage.

You know I think -- surprised why is when we're talking about economic growth clearly you know individuals having more money and their pocketbooks to spread helps.

You know it helps that -- to you.

Make those purchases to -- -- -- -- businesses.

I think I was is a little about more shocked about the week of going from 725 tonight dollars and really.

More than anything this hasn't been a part of a conversation.

With respect to how do we help our economy as I think that's why is a little bit surprised when the president mentioned last night.

I mean yeah obviously it could be a good thing for a lot of people at the same time it could potentially be hard for small businesses who are just.

Trying to get by now.

Exactly and I think you know what we really need to look at and where addicts I'm excited talk to our members.

Is overall economic picture right now because not only do we have a proposal right now for for a potential increase in minimum wage.

But of course we all know that we have Health Care Reform that will be enacted.

You know fully enacted January 12014.

And so.

We really want to take some time and talks are members and really say okay let's open up your books let's talk about this how this impacts you.

So anything else that I miss that you thought was really significant last night.

You know I I I'm actually just very optimistic about this idea of true comprehensive tax reform when it comes both individual and corporate rates.

I I do hope that chairman camp is able to be successful I hope that President Obama works closely with both the house in the senate to get this done because.

I honestly think that reforming our tax code is what -- our -- our economic power in the -- six.

-- any thank you so much for coming in this morning I really appreciate it that they you so much I've got to be here.

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