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SMALL BUSINESS NEWS

17 December 2010

 

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President Obama Met With The Chamber of Commerce

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 business policies.

The 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.

 

-       Rein 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 state level.

 

The Presidentís response can be summarized as follows:

 

-       Reduce regulatory burden on businesses

-       Rebuild the economic infrastructure.  Upgrade transportation and communication networks.

-       Invest in education so that businesses can hire the most talented and skilled employees.

-       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.

-       Reorganize the government to make it run more like a business.

-       Work to promote American businesses overseas.

-       Reform the tax code to remove outdated and unnecessary regulations.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. 

 

 

By Owen Daniels

 

 

 

 

 

 
 

 

  
 

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