NFIB Weekly News NFIB Weekly News

Leading the News

President’s Tax Proposals Could Have Lasting Impact On Small Businesses (05/04/2021)

CNBC (5/1, Rosenbaum) reported that as the debate over the President’s economic agenda moves to Congress and his “spending ambitions have surprised in magnitude, small business policy experts have a growing sense it could be too much too soon, and Main Street could become a financial casualty in several important respects at a time when many operations are just getting back on their feet after the pandemic.” NFIB Vice President of Federal Government Relations Kevin Kuhlman was cited saying some small business sectors could see growth as a result of these proposals, but their effect will be temporary, while the President’s tax changes could be permanent. Kuhlman was quoted saying, “The target here is the largest corporations, many listed as paying no corporate tax, but the problem with that is that two-thirds or even more than that of corporations are small businesses.”

Business Climate

Industry Experts Expect Transport Capacity Shortage To Continue (05/04/2021)

The Wall Street Journal (5/2, Subscription Publication) reported freight industry executives say the squeeze on transport capacity that has been impacting shipping costs for companies in the US will continue through the rest of the year. Strong demand and a rebounding American economy came amid a shortfall in truck availability. Manufacturers, including General Mills, have said rising transport costs are one of the hurdles they face in restocking inventories and meeting strong consumer demand. Operators said the shortfall could worsen if cargo volumes remain high without a break before the busy holiday shipping peak.

Small Business Marketing

Small Business Week Begins As Many Small Businesses Still Struggle With Pandemic (05/04/2021)

KLAS-TV Las Vegas (5/2, Olvera, Holman) reported, “Sunday marks the start of Small Business Week.” KLAS profiles local entrepreneur Lateisha Morgan co-owner of edible cookie dough shop DoMazing, which “took a big hit during the pandemic.”

The Rome (GA) News-Tribune (5/2, Walker) reported that Rome and Floyd County “Small business owners are hoping” National Small Business Week “is a springboard to a return to economic prosperity after one of the most challenging years ever.” The News-Tribune added, “The pandemic has been particularly tough on small businesses.”

The Hoosier (IN) Times (5/3, Thompson) reported, “The last 14 months have been difficult on the nation’s economy, as many businesses had to temporarily shutter due to the COVID-19 pandemic.” Now, with National Small Business Week, Greater Martinsville Chamber of Commerce President and CEO Jamie Taylor “believes that supporting local businesses is now more important than ever.”

Wages and Benefits

US Wages, Benefits Rise (05/04/2021)

The AP (4/29, Rugaber) reported that US workers’ wages and benefits saw rapid growth during “the first three months of the year, a sign that businesses are starting to offer higher pay to fill newly-opened jobs.” According to the AP, “U.S. workers’ total compensation rose 0.9% in the January-March quarter, the largest gain in more than 13 years, the Labor Department said Friday.”