Dan Varroney, author of "Rethinking Economic Growth: How Small Business Can Help Consistently Grow the Economy," joined Carl Cannon and Andrew Walworth, Friday on the RealClearPolitics podcast . He wrote about what the government can do to support the growth of small businesses in America.
"We need consistent 3% growth to maintain our standard of living and quality of life throughout the country. In my research, I identified opportunities to achieve that consistent growth, and I landed on small business," he explained. "Two of three private-sector jobs come from small businesses. Half the total workforce works for small businesses."
"Both political parties need to embrace the power of small business in their communities. They do a great job with the romance; delivering legislatively, not so good," Varroney said. "Certainty in laws and regulations. Instead of a four- or five-year window where there’s a 100% write-off for plant and equipment, make it permanent. Develop regulations that can be scaled down for small businesses. Why have one-size-fits-all rules? It’s far more expensive for small companies."
"In 50 hours of interviews, I heard about the consultants they had to hire and the expense to comply. In the last administration, there were about $1.4 trillion in new regulations," Varroney said. "They said, they're drowning in paperwork and costs and not able to focus on customers, employees, products, and our businesses."
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