New survey shows small businesses support Biden’s jobs plan
CHARLESTON, S.C. (WCSC) - Small business owners are expressing support for parts of the American Jobs Plan, but are hesitant to fully embrace its programs all at once. The $2.3 trillion dollar package is being billed as a once in a generation investment that would restructure American business.
“This plan is going to help small businesses, help the economy overall and it’s paid for by raising the corporate tax rate,” Frank Knapp with Small Business for America’s Future said. “This jobs plan only increases the corporate rate back to 28 percent, so they are still be below what they were in 2017.”
In a nation-wide survey of more than 1,000 small businesses, some in South Carolina, 80 percent said they supported the American Jobs Plan. The survey was conducted by Small Business for America’s Future and it found two-thirds of those business owners believe the plan will boost the American economy.
The plan would beef up traditional infrastructure like roads and bridges but has also expanded the term to include broadband, childcare and medical leave for workers.
“Medical leave, family leave for employees, 70 percent of small businesses understand that is important to them because many of them do not offer medical leave or family leave,” Knapp said. “So having a federal program for that kind of thing would be great for them.”
The vast majority of the business owners who took the survey had fewer than 10 employees.
Latarsha Robinson is the manager at Southern Sisters Bakery with around seven employees. She says small businesses work on very slim margins and expanding benefits would be tough to do alone.
“I tried to check on some health insurance for the employees and it’s really hard to meet that margin of us paying 80 percent and employees paying 20 percent. We do offer employees a vacation, but they have to be here a few years first,” Robinson said. “It’s just too much for us to do right now. We have had some really dedicated employees and would do anything we can to keep them, because that means a lot to us.”
Robinson says the federal government’s proposals could benefit small business, but she says the cooperate tax hike is a touchy subject.
“Corporations are going to think, that’s not fair, why do we have to pay that high tax,” Robinson said. “Corporations make way more money than we do. If I think anyone should get hit with the tax hike, I would think it should be them.”
Currently, leaders on Capitol Hill are still negotiating the American Jobs Plan. Republicans have expressed concerns about the cost of the plan, the expanded definition of infrastructure and the raising of the corporate tax rate.
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