Today for the first time
since taking office President Obama met with the Chamber of
Commerce. The relationship between the President and the
Chamber of Commerce has been strained since the Chamber of
Commerce president Tom Donohue criticized the administration
Chamber of Commerce represents small businesses in America
and advocate for policies that help small businesses. The
Chamber president Tom Donohue outlined what he believes the
focus out to be for small business in 2011.
in excessive regulation and reform the regulatory process by
reducing the 150,000 pages in fine print at the federal
level. These regulations cost American businesses $1.5
trillion a year
- Create jobs by advancing
a pro America agenda that doubles exports in 5 years.
- The need to rebuild
Americaís economic foundation.
- Business must do itís
part to growth of government spending and entitlement and
with it the explosion of government debit at the federal and
The Presidentís response
can be summarized as follows:
- Reduce regulatory burden
- Rebuild the economic
infrastructure. Upgrade transportation and communication
- Invest in education so
that businesses can hire the most talented and skilled
- Encourage innovation by
investing in science
- Reform the patent system
so that innovation can move more quickly to the market
Propose a bigger,
permanent tax credit for research and development.
Cut spending by reducing
the deficit by $400 billion over the next 10 years.
government to make it run more like a business.
Work to promote American
Reform the tax code to
remove outdated and unnecessary regulations.
Additionally the president
called on businesses to do their part to hire more workers
and asked businesses to let him know if they donít believe
that this is the time to invest and hire workers.
The real question is
whether there will be real changes in the near future that
will improve the business environment for small businesses.
None of the things proposed by the President are on fast
track legislation. In fact they havenít even made it to the
congress yet. How much of this gets enacted before the year
is over remains to be seen.