Washington – Today, the House of Representatives passed the final version of H.R. 88, the Retirement, Savings, and Other Tax Relief Act and the Taxpayer First Act. Key provisions of this legislation would significantly benefit American small businesses. Whether it is through assisting business owners with providing employee retirement plans or redesigning a more taxpayer friendly Internal Revenue Service (IRS), this legislation is another step by Congress to spur economic growth and modernize th...
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WASHINGTON – Today, the latest quarterly Wells Fargo/Gallup Small Business Index was released, indicating a significant jump of optimism among small business owners and the highest score in the survey’s 15-year history. Upon the release of this report, Chairman Chabot (R-OH) said: “Small business owners are experiencing the positive effects of our booming economy, with indicators for a hopeful future ahead. With small business optimism reaching historic highs, our policies are not only helping s...
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WASHINGTON – House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the gross domestic product (GDP) showed an annual growth rate of 3.5 percent in Q3: “Today’s report is a clear indicator that America’s small business owners and their employees are experiencing continued growth with consumer spending on the rise. This increase in consumer spending has a direct and positive impact on our nation’s 30 million small businesses. There’s no question that...
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WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the United States Department of Labor reported that 134,000 jobs were added in September with unemployment hitting a 49-year low at 3.7 percent. In addition, the National Federation of Independent Business (NFIB) reported that 37 percent of firms are offering higher compensation in September, which is further underscored by the 2.8 percent wage increase generated in 2017. "It...
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WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) spoke on the House floor in support of H.R. 6760, the Protecting Family and Small Business Tax Cuts Act, which will greatly benefit America’s small businesses, entrepreneurs, and startups. Click here to watch the video online. As Prepared for Delivery: “Mr. Speaker, I rise in support of H.R. 6760, the Protecting Family and Small Business Tax Cuts Act. “As Chairman of the Small Business Committee, I have closely ex...
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WASHINGTON – Today, the House Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access held a hearing to examine how the recent economic expansion is affecting minority-owned small businesses. The hearing focused on how regulatory and tax changes have renewed small business optimism and benefited small business owners. “This morning we had an excellent panel to discuss how the recent surge in economic growth, and the policies enacted this Congress, have impacted minor...
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WASHINGTON – Today, the National Federation of Independent Business (NFIB) released its Small Business Optimism Index from August, which marks a new record high in the survey’s 45-year history. “With small business optimism at the highest its been in 45 years, it’s clear that Americans are prospering, and small businesses are thriving. These historic gains are proof that the new tax law and a reduction in regulations are significantly driving our economic gains. I look forward to seeing continue...
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WASHINGTON – Today, House Small Business Committee Chairman Steve Chabot (R-OH) released the following statement after the United States Department of Labor reported that 201,000 jobs were created in August, with wages up 2.9 percent for the year, the largest increase since June 2009. “Our economy is going full speed ahead, as evidenced by today’s jobs report released by the Department of Labor. With the unemployment rate remaining near historic lows of 3.9 percent and 201,000 jobs added in Augu...
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WASHINGTON – This week, the Small Business Administration (SBA) Great Lakes Regional Administrator Rob Scott wrote an op-ed for the Pike County News Watchman sharing how the Tax Cuts and Jobs Act has directly benefited the almost one million small businesses in Ohio. “Thanks to the recent federal tax cut, local business owners are making investments in their businesses and employees by raising wages, increasing benefits and purchasing equipment to grow their businesses and create new jobs. The o...
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WASHINGTON – Today, House Small Business Committee Chairman Steve Chabot (R-OH) released the following statement after the U.S. Department of Labor released figures indicating the lowest filings for unemployment benefits in five decades. “With productivity on the rise and unemployment claims at a 49-year low, it is evident that small businesses are experiencing the ripple effect our economy is creating,” said Chairman Chabot (R-OH). “Through the Tax Cuts and Jobs Act, not only are small business...
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