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Smith Report 6.5.2014

Celebrating Small Businesses
In May we celebrate Small Business Week and the many entrepreneurs who take risks in pursuit of the American Dream. Small businesses help tell the story of our Eighth Congressional District. Many of these businesses provide unique goods and services that cannot be found in other stores. Still others are passed from one generation to the next and become cornerstones of our local communities. Too often, Washington gets in the way of success for small businesses in Missouri.
The Small Business Administration (SBA) reports that nearly half of the private sector jobs in America are with small businesses. Over the past 15 years, the Administration found that small businesses produced 64% of new jobs created. With this significant impact on job growth, it is clear that small businesses are vital to the strength of our economy. Small business owners create jobs. Not bureaucrats in Washington.
Unfortunately, too many small businesses are struggling to overcome red tape from Washington. Studies have shown that small businesses are hit harder with the cost of environmental regulations than large corporations. Furthermore, small businesses pay 67% more to comply with the overly complex tax code than big businesses. It has even been estimated that one million small business jobs will be eliminated as a result of the Obamacare employer mandate.
Overregulation from Washington is stifling growth and punishing business owners for their hard work and sacrifice. I am committed to fighting intrusive and burdensome regulations from the Obama Administration. For too long, the EPA and IRS have created unnecessary hurdles that slow economic growth and progress. Now Obamacare threatens to unravel the American Dream of owning a business. The House of Representatives has passed nearly 40 bills aimed at helping small businesses prosper, but the Senate has refused to even bring these bills up for a vote.
The Eighth District of Missouri boasts a diverse and lengthy list of small businesses. From concrete, to lumber, to automobiles and agriculture, our home is full of innovative entrepreneurs. I am proud to represent so many industries and the vitality that they uniquely bring to our communities. I trust small business owners to learn, grow, and thrive without the oppressive scrutiny of a bureaucrat. A small business should be locally owned and controlled, not Washington regulated.