U.S. Sen. Ted Cruz (R-TX) today highlighted the importance of small businesses to the Texas and national economies and his efforts to reverse the Obama Administration's misguided policies that are stifling job creators' ability to thrive. He visited Lodge Lumber, a Houston-based small business.
"This is what America is all about, small businesses. They are the backbone of our economy. If we want to turn our economy around and get Americans back to work, small businesses will be the key to doing so," said Sen. Cruz. "In his State of the Union speech, President Obama could have taken the opportunity to find real bipartisan cooperation on pro-growth policies and job creation. Instead he doubled down on the policies of the last four years -- more spending, more debt and more regulations that are strangling small businesses and killing jobs. If enacted, the President's policies would make it harder for everyone working towards the American dream."
Sen. Cruz recognizes that one of the biggest threats to small businesses is the implementation of Obamacare, which is why his first legislation filed as a U.S. Senator was a bill to repeal the legislation, as he promised Texas voters.
"Obamacare is putting crippling costs on small businesses and making it harder for them to compete, particularly when bigger businesses with more connections in Washington are able to get waivers from the burdens of Obamacare, while the struggling small businesses have to face the full burden -- that is destroying jobs and opportunity," Sen. Cruz said.
President Obama promised Americans that his healthcare plan would lower health insurance premiums by $2,500 per year. Instead, the premiums for the average family with an employer-provided plan have climbed $2,370 during Obama's first term -- a rate faster than the rate under President Bush. Additionally, Forbes Magazine recently listed Obamacare as a "top concern for small business in 2013," citing the costs for small businesses to comply with the law and the mandate for small businesses to buy health insurance for their employees or pay a fine.
In his remarks, the senator also spoke against policies that will further exacerbate the challenges of small business owners, particularly the President's proposal to increase the minimum wage. Such a policy would only make it harder for job creators to find the workers they need to sustain their business. It would make it harder for young people and those struggling to climb the economic ladder to find jobs, opportunity and a path toward success.
Without considerable and aggressive measures to spark growth, small businesses and job creators across the country will continue to struggle. Sen. Cruz is committed to working with lawmakers to pursue effective policies that will return growth to historical levels. Under President Obama, the economy is entering its fifth year of substandard annual growth, 0.8% on average, compared to an average of 3.3% for the last 70 years.