On Thursday September 6th, Congressman Jon Runyan (R-NJ) hosted a Small Business Roundtable discussion on tax policy with the Burlington County Chamber of Commerce (BCCOC). More than 15 local small businesses attended the discussion to tell their stories on the importance of fixing the United States' current tax code.
"Small businesses are the life blood for our local, regional, and national economy," said Congressman Runyan. "If the federal government does not act soon, nearly one million small businesses will see a dramatic increase in the amount they pay in taxes. This increase could result in employees losing their benefits, cuts in wages, or even being fired. Ernst and Young recently released a study on what the economic implications on small businesses would be if nothing was done to fix our nation's tax code. New Jersey alone would see an estimated loss of 20,900 jobs and $6.5 Billion in economic output."
"BCCOC was pleased that small businesses had the opportunity to discuss the importance of maintaining these tax cuts with Congressman Runyan," said Kristi Howell-Ikeda, the President of the Burlington County Chamber of Commerce. "As our small businesses struggle these tax cuts have helped many keep their businesses alive. I am so pleased that Congressman Runyan can take real stories and real faces of real small business people back to Washington with him. If every Congressman who cared about keeping jobs alive in his or her district did that, we'd have no worries about these cuts. Unfortunately we do, so I hope today was call to action for our members."
The event was attended by a wide variety of small businesses from accounting and financial services firms, human resource consulting firms, janitorial supply and service providers, manufacturing companies, and design companies. While the companies represent an array of industries, many have the same concerns and are facing the same problems. Congressman Runyan believes that these small businesses must be protected and his actions in Congress have been focused on ensuring these businesses have the opportunity to succeed.