NFIB Weekly NewsLeading the News Small Businesses File Amicus Brief Supporting Challenge to Debit Card Interchange Fees (05/17/2023)
WASHINGTON, D.C. (May 17, 2023) – NFIB filed an amicus brief at the U.S. Supreme Court in the case Corner Post Inc., v. Board of Governors of the Federal Reserve System. NFIB’s brief argues against burdensome debit card fees on behalf of small business owners. The case concerns when a new business can challenge burdensome agency regulations, like the one imposing debit card fees.
“Card fees are a significant financial burden for small businesses,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “These fees often represent one of the largest operating costs for small businesses. Unfortunately, multiple federal courts have misinterpreted the law to prevent new businesses from challenging burdensome regulations. We are hopeful that the Supreme Court will grant review and provide clarity for when new businesses can challenge harmful agency actions.”
New NFIB Survey: Small Businesses Rank Banking Operations and Confidence in Banking System (05/03/2023)
WASHINGTON, D.C. (May 3, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, today released a new survey that assesses the relationship between small businesses and banks. The survey was conducted by e-mail from April 14-18, 2023, and offers insight into small business banking operations and their confidence in the banking system and the economy more generally.
NFIB Statement on Today’s White House Meeting with Small Business Owners (05/01/2023)
WASHINGTON, D.C. (May 1, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement in response to the White House hosting a small business event today while simultaneously working to raise taxes on small business owners.
“If the White House wants to help small businesses, they will immediately abandon their plans to raise small businesses’ taxes,” said Kevin Kuhlman, NFIB Vice President of Federal Government Relations. “Small businesses continue to face economic headwinds and their expectations for better business conditions six months from now are hovering near historic lows. The new tax hikes proposed in the White House’s FY 2024 budget request would hurt Main Street’s ability to recover, grow, and create jobs. The White House should instead focus on promoting economic growth and providing certainty, such as permanently extending the Small Business Deduction.”
The White House is wrongly characterizing the proposed tax hikes as the closing of “loopholes,” but these increases would make it tougher for small businesses to operate, invest in their businesses, and create jobs.
The NFIB recently launched a paid media campaign targeting the White House tax hikes on small businesses, urging members of Congress in key states to reject the proposed increases. Learn more at NFIB.com/NoNewTax.
NFIB’s Small Business Rundown podcast discusses the latest small business news (04/20/2023)
WASHINGTON, D.C. (April 20, 2023) – NFIB President & CEO Brad Close joins the Small Business Rundown to discuss the challenges of tax season for small businesses. In Episode 7, Close explains how complicated tax laws create confusion and uncertainty for America’s small business owners. Close explains the concerns of NFIB’s members and describes how Main Street businesses would benefit from the IRS focusing on customer service, education, and compliance assistance instead of audits and investigations.
Small Businesses Deserve Support and Certainty From IRS, Not Audits and Intimidation (04/17/2023)
WASHINGTON, D.C. (April 17, 2023) – In today’s USA TODAY, NFIB President & CEO Brad Close penned a new op-ed explaining how the IRS should use its plans for expansion to provide more certainty for America’s small businesses.
Close notes how Main Street would be better served by an IRS that focuses on customer service, including education and compliance assistance, over audits and investigations.
NFIB Statement on President Biden’s Veto of Bipartisan WOTUS Congressional Resolution (04/07/2023)
WASHINGTON, D.C. (April 7, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released the following statement in response to President Biden’s veto of a joint Congressional bipartisan resolution of disapproval for the Waters of the United States (WOTUS) final rule.
“President Biden’s decision to veto a bipartisan Congressional resolution to repeal a complex and burdensome regulation further demonstrates a disconnect with the concerns of small businesses,” said Kevin Kuhlman, NFIB Vice President of Federal Government Relations.
Business Climate “Main Street Tax Certainty Act” Introduction in the U.S. Senate (05/17/2023)
The Main Street Tax Certainty Act is expected to be introduced in the U.S. Senate this week. Senator Steve Daines (R-MT) will re-introduce the important legislation, which will make the Small Business Deduction permanent. Currently, the deduction is set to expire after 2025. Rep. Jason Smith (R-MO), who has long championed making the Small Business Deduction permanent, is anticipated to re-introduce the legislation in the House soon as well.
“As small businesses manage economic headwinds, Congress has the opportunity to pass legislation that would provide tax certainty for Main Street by making the Small Business Deduction permanent,” said Brad Close, NFIB President. “Unlike the corporate rate, the Small Business Deduction is set to expire in 2025 and its elimination would cause small businesses to curtail their hiring and growth plans. We are encouraged that Senator Steve Daines re-introduced the Main Street Tax Certainty Act in the Senate and urge members of the U.S. House to quickly follow.”
Supreme Court Ruling in National Pork Producers Council v. Ross Places Further Burdens on Small Businesses Nationwide (05/11/2023)
WASHINGTON, D.C. (May 11, 2023) – NFIB is disappointed in today’s U.S. Supreme Court decision in National Pork Producers Council v. Ross. Small businesses were hopeful that the Court would uphold the precedent of the Commerce Clause and prohibit California from applying a law that will burden small businesses throughout the country. NFIB filed an amicus brief in the case arguing against the Ninth Circuit’s ruling.
“This Supreme Court decision will not only affect every small, family-run farm in the nation, but it changes the standard of how state governments can impose regulatory burdens on businesses and consumers outside of that state,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “Proposition 12 will have a staggering impact on pork farmers, consumers, and interstate commerce as a whole. Today’s decision sets a dangerous precedent, and small businesses will bear the consequences.”
The High Cost of Health Insurance Threatens Main Street. It’s Time For Congress To Act (05/02/2023)
WASHINGTON, D.C. (May 2, 2023) – Today’s The Hill published a new op-ed from Josselin Castillo, NFIB Manager of Federal Government Relations, in which she discusses how the high cost of health insurance is impacting small businesses, and how Congress can take meaningful steps to act.
Small Businesses Continue Fight Against Final WOTUS Rule in Latest Amicus Briefs (04/27/2023)
WASHINGTON, D.C. (April 27, 2023) – NFIB filed two amicus briefs in the cases Commonwealth of Kentucky v. United States Environmental Protection Agency (EPA) and Kentucky Chamber of Commerce, et al. v. EPA at the United States Court of Appeals for the Sixth Circuit. These cases concern the EPA’s final rule on the waters of the United States (WOTUS) and whether the Court should grant a preliminary injunction on the rule.
“The final WOTUS rule will be disastrous for small farmers, ranchers, developers, and other small businesses,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “The rule expands the definition of WOTUS, which will ultimately raise compliance costs and increase uncertainty for small business owners doing their best to avoid sanctions. The Court should grant the emergency motions for a preliminary injunction pending appeal.”
NFIB filed an amicus brief in the case Sackett v. EPA at the U.S. Supreme Court and supported U.S. Congressional efforts in disapproving the final WOTUS rule, which President Biden vetoed.
The NFIB Small Business Legal Center protects the rights of small business owners in the nation’s courts. NFIB is currently active in more than 40 cases in federal and state courts across the country and in the U.S. Supreme Court.
Petition urges Congress to reject new tax increases on small businesses (04/19/2023)
WASHINGTON, D.C. (April 19, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, presented members of the U.S. House Committee on Small Business with a petition signed by over 11,000 small business owners urging Congress to reject the White House Fiscal Year 2024 budget proposal that includes new tax increases on small businesses.
Small businesses ask U.S. Supreme Court to grant petition on sales tax case (04/17/2023)
WASHINGTON, D.C. (April 17, 2023) – NFIB filed an amicus brief in the case Quad Graphics, Inc. v. North Carolina Department of Revenue at the U.S. Supreme Court. The case concerns whether the North Carolina Supreme Court wrongfully held that taxing authorities don’t have to follow the United States Supreme Court’s decision in McLeod v. J.E. Dilworth Co. Dilworth said that a state cannot tax sales that occur outside its borders.
Wages and Benefits Labor Quality Becomes Top Small Business Problem, Followed by Inflation (05/09/2023)
WASHINGTON, D.C. (May 9, 2023) – NFIB’s Small Business Optimism Index decreased by 1.1 points in April to 89.0. This marks the 16th consecutive month below the survey’s 49-year history of 98. Labor quality was the top business problem at 24%, with inflation in second place by one point at 23%.
“Optimism is not improving on Main Street as more owners struggle with finding qualified workers for their open positions,” said NFIB Chief Economist Bill Dunkelberg. “Inflation remains a top concern for small businesses but is showing signs of easing.”
NFIB Jobs Report: Labor Quality Continues to Hold Back Small Business Hiring (03/30/2023)
WASHINGTON, D.C. (April 6, 2023) – Owners reporting labor quality as their top small business operating problem remains elevated at 23%, according to NFIB’s monthly jobs report. Labor costs reported as the single most important problem to business owners decreased one point to 11%, just two points below the highest reading of 13% reached in December 2021.
“The labor force participation rate remains below pre-COVID levels, which is contributing to the shortage of workers available to fill open positions,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners are struggling to take advantage of current sales opportunities.”
New NFIB Survey: Health Insurance Costs Remain a Significant Challenge for Small Businesses (03/23/2023)
Costs is the biggest problem for small employers offering and not offering health insurance
WASHINGTON, D.C. (March 23, 2023) – The National Federation of Independent Business (NFIB) released a new survey assessing small businesses and health insurance. The data reveals that small businesses are facing a substantial affordability crisis in providing health insurance for their employees. Most small business owners find it challenging to manage the cost of offering employer-sponsored health insurance and almost half have taken a lower profit or suffered a loss to pay for health insurance premium increases over the last five years.
“Health insurance has been a continuous challenge for small business owners,” said Holly Wade, Executive Director of NFIB’s Research Center. “The cost of health insurance is by far the biggest challenge for employers who offer health insurance and for those who do not offer it. Small employers compete for talent in filling open positions and are aware that health insurance is an important benefit for many employees and job seekers.”
NFIB Jobs Report: Small Businesses Report Record High Levels of Job Openings (03/09/2023)
Nearly half of small businesses have job openings they can’t fill
WASHINGTON, D.C. (March 9, 2023) – Forty-seven percent (seasonally adjusted) of small business owners reported job openings they could not fill in the current period, according to NFIB’s monthly jobs report.
“The small business labor demand remained strong in February,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners are working to maintain competitive compensation and are raising compensation in the hopes of filling their open critical positions.”The percent of small business owners reporting labor quality as their top small business operating problem remains elevated at 21%, down three points from January. Labor cost reported as the single most important problem to business owners increased two points to 12%, down one point below the highest reading of 13% reached in December 2021.
Ninety-one percent of owners trying to hire report few or no qualified applicants (02/02/2023)
WASHINGTON, D.C. (Feb. 2, 2023) – According to NFIB’s monthly jobs report, 57% of owners reported hiring or trying to hire in January, up two points. Of those hiring or trying to hire, 91% of owners reported few or no qualified applicants for the positions they were trying to fill. Twenty-seven percent of owners reported few qualified applicants for their open positions and 25% reported none.
“The labor shortage continues to be a major concern for small businesses in the New Year as nearly all owners trying to hire are reporting no or few qualified applicants,” said NFIB Chief Economist Bill Dunkelberg. “Small businesses’ sales opportunities are limited because of the staffing shortage but owners continue to make changes in business operations to compensate.”
Forty-five percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, up four points from December.
Labor quality as a top business problem remains elevated (11/03/2022)
WASHINGTON, D.C. (Nov. 3, 2022) – According to NFIB’s monthly jobs report, small business owners continue to struggle with labor issues as 23% of owners report labor quality as their top business problem, second to inflation. Ten percent of owners report labor cost as their top business problem, a historically high reading.
“The labor shortage remains a challenging problem for small business owners,” said NFIB Chief Economist Bill Dunkelberg. “Because of staffing shortages, small business owners are less able to take full advantage of current sales opportunities and continue to make business adjustments to compensate.”
Small business owners’ plans to fill open positions remain elevated, with a seasonally adjusted net 20% planning to create new jobs in the next three months, down three points from September but still historically strong.
Sixty-one percent of owners reported hiring or trying to hire in October, down three points from September. Of those hiring or trying to hire, 90% of owners reported few or no qualified applicants for the positions they were trying to fill. For all firms, including those not actively hiring, 30% of owners reported few qualified applicants for their open positions and 25% reported none.
Seasonally adjusted, a net 44% reported raising compensation, down one point from September but just six points below the 48-year record high set in January....
