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The Associations of Mature American Citizens (AMAC) said in September that Vice President Kamala Harris would be a “disaster for small businesses” following her debate against former President Donald Trump.
A Harris-Walz White House “would produce more of the same dismal outcomes for small business owners and employees” as the Biden-Harris administration, AMAC writer Ben Solis said in September. A little under half of all Americans are employed by a small business, which is defined as those with under 500 employees. Just 27% of Americans work for companies with less than 50 employees. (TAKE A POLL: Do You Feel That Your Basic Needs (Food, Shelter, and Safety) Are Adequately Met?)
What Happened Since 2021?
“According to the most recent survey by the National Federation of Independent Business (NFIB), small business optimism declined by 2.5 points in August, the sharpest fall since June 2022. The metric overall has been down throughout the Biden-Harris administration, reaching an 11-year low in March of this year,” AMAC said in their report. (TAKE A POLL: Do You Feel Your Community is Supportive and Inclusive?)
“According to a report out this May from the House Committee on Small Business, regulations imposed by the Biden-Harris administration have cost small businesses a total of $1.7 trillion, including 312 million hours devoted to paperwork compliance,” the report continued. “In a letter to Congress signed by 50 trade groups, small business leaders pointed out at least 28 instances where federal agencies ‘failed to adequately examine the economic costs of regulations.’ The letter further called the number of regulations ‘unprecedented,’ saying that they imposed a “disproportionate” burden on small businesses.”
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