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Blaine's Bulletin: The Impact of Small Businesses

1,109,463 is the number of workers employed by small businesses in Missouri.

1,109,463 is the number of workers employed by small businesses in Missouri.

With such an astounding number like that, you can see why I take my position on the House Small Business Committee very seriously. With more than half of the state’s non-farm, private workforce employed by our nearly 505,000 small businesses in Missouri, I am proud to be your voice when it comes to regulations, compliance, and being a listening post to helping the small business you work for succeed.

Small businesses are where ideas and innovations are not only brought to life but are nurtured into success stories that create jobs and opportunities. As the Vice Chair of the House Small Business Committee for the 114th Congress, I remain concerned and committed that in order to preserve the economic building blocks produced by small businesses, we must ensure we do not build walls to block prosperity.

One piece of legislation the House passed and I am proud to support is the Small Business Regulatory Flexibility Improvements Act. Small business owners and employees are on the frontlines of our economy and they deserve to have a voice in the regulatory process. This legislation allows small businesses to be a part of the solution and provide input during the rulemaking process that takes place. In addition, this legislation closes loopholes by requiring more detailed analyses of proposed regulations, providing greater opportunity for small business input, and ensuring agencies review regulations that are already in place.

Another piece of legislation I am proud to support is the America’s Small Business Tax Relief Act. This legislation would make section 179 expensing permanent. In short, taxpayers would be able to expense up to $500,000 of investments in new equipment and property per year. This legislation would provide stability for employers which would lead to growth and expansion. It is my hope the Senate takes both of these pieces of legislation to the floor soon and opens them up for debate on behalf of our nation’s small businesses and those who depend on them for their livelihoods. 

The work that we do on the Small Business Committee is important to every single community in the nation. With my history in small business, I remain committed to preserving the health of America’s small businesses. I look forward to the many hearings and roundtables I will be able to participate in this year and I will continue to report back to you.