Prioritizing Small Businesses: Five Potential Priorities for Main Streets Across America

Title: President Outlines Five Key Priorities to Support Small Businesses in Address to the Nation

In a recent address to the nation, the President highlighted the importance of supporting small businesses and laid out five key priorities to help entrepreneurs succeed in the current economic climate. With bipartisan support for initiatives aimed at lifting up Main Streets across America, these priorities aim to address crucial issues facing small business owners.

1. Tax Package Prioritizing Small Business Owners: With the expiration of the Tax Cuts and Jobs Act provisions, Congress has the opportunity to update tax policies to better support small business growth. The upcoming reauthorization of the TCJA presents a chance to create targeted approaches that genuinely benefit small business owners.

2. Helping Small Business Owners Secure Health Care: The President emphasized the importance of extending ACA’s Advanced Premium Tax Credits to lower monthly payments for small business owners and their employees. Failure to extend these tax credits could result in increased premium payments for many enrollees in the ACA Marketplace.

3. Sustainable SBA Disaster Funding: Following recent natural disasters, the SBA’s disaster loan program faced funding challenges. Congress took steps to appropriate funding, but there is a need for sustainable funding to ensure the SBA can support businesses impacted by future crises.

4. Nearshoring with Canada and Mexico: Amid discussions of tariffs, there is an opportunity to focus on nearshoring with neighboring countries to reduce supply chain vulnerabilities and costs. Collaboration with Canada and Mexico could lead to economic integration and mutual governance in North America.

5. Government That Works for Small Business and Working Families: Congress can address fundamental challenges to enhance small business competitiveness, including expanding tax credits for working families and developing retirement options tailored to small business owners. Financial protections and targeted SBA loan programs can ensure fair competition for small businesses.

The President’s priorities aim to build on the success of American entrepreneurs and their workers, who have played a significant role in job creation and economic growth in recent years. By addressing these key issues, the administration seeks to support small businesses and drive continued success on Main Streets across the country.