On the recordMarch 3, 2011
Our nation's small businesses create 7 of every ten 10 new jobs. They represent 99.7 percent of all employer firms, and employ 97.5 percent of all identifiable exporters. They are the entrepreneurs that can lead us out of the economic downturn. We are depending on them to reinvigorate our economy. But the fact is, Washington has not provided them with an environment in which they can thrive. At House Small Business Committee hearings, owners of small firms have told us week after week that they want Washington to get out of the way so they can do what they do best: create jobs and help move our economy forward. But Washington keeps piling on mandates that hold them back. The expanded 1099 information reporting requirement is a perfect example. At one of our recent hearings, a small manufacturer from North Carolina said, "The expanded 1099 reporting requirement included in the healthcare law is a good example of the kind of misguided policy that works against the interest of small businesses. Tax filing is never a task small business owners look forward to, but making filing more burdensome only drains resources from already struggling companies."
