What Do Small-Business Owners Think About Trump's Tax Reforms?
When President Trump’s tax reform plan passed Congress late last year, it was meant to provide some big benefits for small-business owners. A new tax rate for pass-through companies and other reforms are meant to reward businesses that have a lot of employees and incentivize others to go out and hire more, according to Forbes.
So what do small-business owners around the country and here in Arizona think about the reforms?
Well if you ask the U.S. Chamber of Commerce, things are looking up.
Every quarter, the Chamber polls 1,000 small-business owners from across the country, and this time, they’re reporting that their index is at an all time high. It rose 3 points from the end of 2017 to a 66.3. That means 66.3 percent of the small-business owners they polled have a positive outlook on the economy.
I spoke with Tom Sullivan, vice president of Small Business Policy at the U.S. Chamber of Commerce more about this. And, he told me, he thinks this is because of the Trump tax reform. The business people they talked to thought it was a good thing by a 2-to-1 margin, he said.
But not every poll shows a rosy outlook. And there’s still a large segment of them who are not quite sure whether it will help or hurt. I spoke with Sullivan more about this.