Main Street businesses need a stable and consistent regulatory and tax environment
FOR IMMEDIATE RELEASE
LANSING, MI (Jan. 24, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy association, commented today ahead of Gov. Gretchen Whitmer’s State of the State Address this evening.
“I have no doubt that Governor Whitmer, like most politicians, will talk about the importance of small business tonight,” said NFIB State Director Amanda Fisher. “However, the governor and legislative majorities continue to put forth and pass policies that will hurt small businesses across the state.”
“This discordance has left many small business owners discouraged,” continued Fisher. “We continue to see legislation and administrative rules that increase regulations, add labor mandates, and raise overall costs for all small business owners, whose margins are often razor thin. Michigan businesses, both big and small, need a stable and consistent regulatory and tax environment in order to thrive and grow our economy.”
In response to a rumored proposal for a payroll tax incentive for small businesses that hire more employees, Fisher had this to say: “NFIB members have always been wary of taxpayer-funded incentives where the government picks who wins and who loses. This proposal does nothing to help those small businesses that are struggling to survive persistent inflation, ever increasing energy costs, and added regulatory burdens. Even if small businesses want to hire, many are unable to find the workers to do so.”
“In addition to pulling back on job killing proposals like paid family leave, there are positive steps that could be taken to help small business owners,” Fisher concluded. “Since a large portion of smaller and mid-sized firms pay their business taxes through the personal income tax, we would recommend the governor allow the income tax cut triggered by revenue surpluses in 2023 to remain permanent. Better yet, she could ask the legislature to take up Representative David Martin’s bill (HB 5399) that would roll the income tax back to 3.9%.”
For 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.