Tax Reform Boosts Small Business Optimism to Record High

A new survey from the National Federation of Independent Businesses (NFIB), finds that small business optimism has hit a “record high” following the passage of tax reform. The Tax Cuts and Jobs Act lowers tax rates for hardworking small businesses across West Michigan which are the backbone of our local economy.
Because of tax reform, small businesses throughout West Michigan will be able to keep more of their hard-earned money and use it to expand their operation, hire more employees, and boost wages for current employees.
Below are highlights from the latest NFIB small business survey and what it means for job creation as reported by Fox Business.

  • Small business owners are more optimistic than ever about the economy, thanks to tax reform. The NFIB Small Business Economic Trends Survey optimism index hit a record high of 107.6 in February.  The historically high numbers include a jump in small business owners increasing capital outlays and raising compensation.
  • “When small business owners have confidence and certainty in the economy, they’re able to hire more workers and invest in their businesses,” said NFIB President and CEO Juanita Duggan. “The historically high readings indicate that policy changes – lower taxes and fewer regulations – are transformative for small businesses. After years of standing on the sidelines and not benefiting from the so-called recovery, Main Street is on fire again.”
  • “Small business owners are telling us loud and clear that they’re optimistic, ready to hire, and prepared to raise wages – it’s one of the strongest readings I’ve seen in the 45-year history of the Index,” said NFIB Chief Economist Bill Dunkelberg.

Click here to see how tax reform is positively impacting hardworking employees across West Michigan.