Issue Position: Small Businesses

Issue Position

Small businesses are the backbone of the American economy, creating more than 70% of all new jobs in the United States. Prior to serving in Congress, Patrick McHenry was a small businessman. He understands the issues that affect the success or failure of these ventures.

First, we need to have a system of taxation that encourages investment and entrepreneurship. Currently, small businesses are penalized by the tax code, costing us jobs and opportunity for growth. Congressman McHenry supports a permanent repeal of the death tax -- which disproportionately affects small businesses and family farms.

Small businesses are also impacted by the rising cost of providing health care to employees. Congressman McHenry supports the Small Business Health Fairness Act, which would allow small businesses to band together to purchase insurance, making healthcare coverage more affordable and accessible for employees.

While lawsuit abuse increases the cost of healthcare, it also puts small businesses at risk of being named in frivolous lawsuits. As a result, small businesses are less willing and able to provide benefits and job security to employees.

Federal regulations are tilted in favor of big corporations, making it virtually impossible for small businesses to compete with larger entities. These small businesses need help, not complex regulations that make compliance expensive and time-consuming. Congressman McHenry is co-sponsoring the Consumer Product Safety Act to provide regulatory relief to small and family-owned businesses. Only by leveling the playing field can we help small business grow, prosper, and create jobs.

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