NSBA ADVOCATE by Greg Smith

Published by the National Small Business Association

Volume 22, Issue 5

November/December 2008

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ADVOCATE

NOVEMBER/DECEMBER 2008

CONTENTS 06

Are you not sure what to do now that the campaigning has subsided? Take it from NSBA, there is no better time than the present to get active and take action.

Chair Marilyn D. Landis First Vice Chair Keith Ashmus Secretary Lois W. Riske

President Todd McCracken

Layout & Design Greg Smith Staff Writers Molly Brogan Jere Glover Daniel R. Jones Kyle W. Kempf Jody Milanese Jim Morrison Greg Smith

COUNCIL UPDATES Not sure what the Obama administration and the 111th Congress mean for your technology firm or exporting business? Find out from the experts exactly what you can expect.

Vice Chair, Membership Phyllis Shearer Jones

Editor Molly Brogan

FROM THE HILL U.S. Senate Majority Leader Harry Reid talks to NSBA about the first 100 days of the 111th Congress and what the small-business community can anticipate.

Vice Chair, Communications Chris Holman Vice Chair, Advocacy Larry Nannis

ON THE TRAIL In this issue we take a look at the winners and losers from this years election and offer an analysis of what it means for small business community.

Treasurer Scott Hauge Immediate Past Chair Grafton H. “Cap” Willey, IV

RESOURCES

ADVOCACY & EVENTS As the nation’s oldest advocate for small business, we’re always working on behalf of you, the small-business owner. Take a moment to see some of our recent activity as well as ways you can get involved.

FEATURE ARTICLE With President-Elect Barack Obama in the White House and significant gains among Democrats in both the House and Senate many small-business owners want to know what is in store for the small-business community. Understanding that the first 100 days of a new administration and a new Congress is the most critical period for establishing a governing doctrine, NSBA is busy pushing the small-business agenda - an agenda that not only promotes smallbusiness, but that will help the American economy recover.

HOW TO REACH US National Small Business Association 1156 15th Street NW Suite 1100 Washington, DC 20005 Phone: (202) 293-8830 Fax: (202) 872-8543 Web: www. nsba.biz

Notification of address changes should be sent to the address listed above.

MISSION STATEMENT

NSBA is a volunteer-led association. Our primary mission is to advocate federal policies that are beneficial to small business and promote the growth of free enterprise NOVEMBER/DECEMBER

06 ADVOCATE

NSBA LEADERSHIP CORNER

The Year in Review A Successful Year for the Voice of the Small-Business Community By Marilyn Landis

t the beginning of my term as NSBA Chair, one of my top priorities was to raise the profile of small business issues. Now, as we look back over a presidential election in which one of the stars was “Joe the plumber,” it’s clear that our message got out there. Yet, the hard work—making sure that the spotlight on small business during the elections translates into the inclusion and consideration of the small-business community in policy discussions—is ahead of us. NSBA must continue to be a leader, not just in the small-business community but also in Congress on key issues of importance to entrepreneurs. In 2008 we led the charge on several key issues, including reauthorizing the Small

Business Innovation and Research Program, credit-card reform, estate tax reform, fair-lending practices, and broad health care reform. Our work on these key issues moved the ball forward, and I am confident that in the coming months and years we will continue to see our leadership on key small-business issues have a significant impact on policy. In addition to our leadership on key issues, NSBA—and each of us—must continue talking about small business and the issues that matter to us. In 2008, NSBA was a leader in providing lawmakers and the media with vital data on the small-business community. Through several widely-cited NSBA surveys and PR campaigns—including the Small Business: 70 Million Strong… And Voting campaign—we continued throughout the year to provide critical information about America’s small businesses. In addition to providing a greater understanding of small business, NSBA cemented our position as a highly-respected and thoughtful voice of the small-business community. We find ourselves, as an organization, with great opportunity ahead of us. Although it hasn’t always been popular, NSBA has remained a staunchly nonpartisan organization— addressing each issue on its merits, and not on whether a particular bill was introduced by a Republican or Democrat. Our ongoing commitment to working with lawmakers regardless of party affiliation surely will provide us with a unique opportunity to work with the new administration under President-elect

Barack Obama, as well as with new and returning members of Congress. While we have clearly had a successful and meaningful year as an organization, as I said before—there is more to do. When the 111th Congress begins, and the 44th president is sworn in, NSBA must continue to push for inclusion of small-business needs in any broad-based economic discussions or policy. We must continue to work with Congress and the administration to ensure that their campaign promises to the small-business community turn into a long-term commitment to ensuring small-business issues are addressed at all levels of government. Your voice, collectively with other NSBA members, is a key part in ensuring that the needs of small business are heard. One of the best ways your voice can be heard is through your participation at NSBA’s Biennial Small Business Congress. Held Feb. 12 through 14, 2009, the Small Business Congress provides all NSBA members with the opportunity to vote on the top priority issues for the upcoming session of Congress. NSBA is only as strong as its members, and your participation in this event is incredibly important. As I look back over the past 12 months, I am proud of the work we’ve all done – together we made sure the voice of small business was heard. Now, we must make sure that voice continues to be loud, powerful and most importantly — heard.

~ Marilyn Landis NSBA Chair Photograph Provided by: Dynamic Concepts Photographed by: James Papariello Studio, Inc.

ADVOCATE

NOVEMBER/DECEMBER 2008

FROM OUR AFFILIATES

The Next 100 Days: How You Can Make Things Better for Your Small Business By Gary Smith, President, Independent Business Association of Washington State

et ready to make a New Years Resolution right now, a resolution that will go a long way and is easy to keep. That resolution is, “I will communicate with at least one of my federal or state lawmakers - every week.” Having been courted by candidates for the highest office in the land to the smallest office in our local communities, small-business owners have a responsibility to hold their newly elected representatives responsible for delivering on the promises made on the campaign trails. The only way to get action is to remain relevant and prominent with your elected representatives — to remind them of the promises they made to the small-business community during the campaign. The most effective way to get action is to communicate with your lawmakers regularly. It is crucial for you to communicate the small-business agenda to your elected officials on a frequent basis — once a week at a minimum, and more is even better. The first 100 days of 2009 will set the small business agenda for all of your elected lawmakers. By communicating with your federal and state lawmakers now, in the first 100 days, you will make small business a higher priority throughout 2009. Without constant feedback and communication from their constituency, your elected officials enjoy a mandate to legislate as they see fit, which does not always translate into pro small-business legislation. What YOU do in the next 100 days is

NOVEMBER/DECEMBER

critical to you and your small business in 2009 and beyond. Your elected lawmakers ARE your business partners. They take part of every dollar you earn, tell you what you must do and tell you what you can not do. YOU need to communicate with them and let them know what you need and what your position is on the proposals they are considering that will affect yoCu. There are 26 million small-business owners in the U.S. and together you represent a HUGE political force, if you will just stand up and communicate with your lawmakers.

is crucial for you to “ Itcommunicate the smallbusiness agenda to your elected officials on a frequent basis -- once a week at a minimum, and more is even better.

“

Your political potential is HUGE, you simply have not made full use of it. You can, starting now, and it won’t cost you anything! What is the small business message? It is pretty simple really: • Please make “main street” and small business a top priority to any federal or state economic recovery plan. Small businesses have a long history of leading our nation out of economic challenges by creating jobs and this one will be no exception. • For guidance on specific issues at the federal level, such as taxes, health care,

ADVOCATE

and the Worker Free Choice Act, refer to the information on these issues provided by the NSBA. • In your state, you will also be facing many issues affecting your small business. You need to be a member of a state organization like IBA-Washington so you know what is going on and what message to communicate to your elected state lawmakers. If you would like more details about the challenges Washington State small businesses will face in 2009, go to www.ibaw.net/nsba. Like NSBA, the Independent Business Association of Washington State will be working extremely hard for small businesses dealing with the current challenges. Those challenges are huge in Washington State, like they are in Washington D.C. and in every other state in our nation. YOU, NSBA, and your state small business organization are a team. We each must play a specific role to win. The NSBA and the IBA-Washington State will be lobbying hard, but we need you to communicate with your federal and state elected lawmakers over the next 100 days to maximize our effectiveness and “close the deal.” By communicating with your federal and state lawmakers, you will make things better for you and your small business in 2009 and beyond. Gary Smith is the President and registered lobbyist for IBA-Washington State. For more information about IBA-Washington State, please visit our website at www.ibaw.net

RESOURCES

GET ACTIVE, TAKE ACTION The Elections May be Over, but the Role of the Small Business Advocate is Not By Gregory Smith

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NOVEMBER/DECEMBER 2008

FROM THE HILL

A PLAN THAT DELIVERS

Getting America Back on Track to Economic Recovery By U.S. Senator Harry Reid

merica’s small businesses have long been the nation’s primary job-creating engines. Unfortunately, these engines are sputtering along with our economy. The housing crisis and financial crisis have had a serious impact on the smallbusiness community across the country. In Nevada, for example, where foreclosures are especially high, the housing downturn has destroyed jobs in the construction sector and others that depend on the building trade. Not surprisingly, Nevada’s unemployment rate rose in October to 7.6 percent, an increase of more than 2 percent since this time last year. This year Congress passed an

JULY/AUGUST 2008 NOVEMBER/DECEMBER 2008

economic stimulus bill, sweeping housing legislation and an economic-rescue measure to stabilize and ultimately grow the economy. As gloomy economic data continues to pour in, I am all too aware that more must be done. Small businesses rely on credit to fund their operations and grow. The credit freeze has choked off lending in some cases or made it prohibitively expensive in others. I am especially concerned about disruptions in the Small Business Administration’s lending programs, particularly the 7(a) and 504 programs, which are the largest source of long-term, small-business financing. Like other markets, these programs rely on functioning secondary markets that allow primary lenders to sell their small-businessloan portfolios to poolers who securitize the loans for investors. But dramatic increases in funding costs for investors have driven away the secondary market, leaving primary lenders with no capacity to continue making loans. The Emergency Economic Stabilization Act passed in October was intended by Congress to confront this issue by restoring liquidity and stability to the financial system, among other things, but so far the authority given to the Treasury Department has not been exercised toward that end. This combination of dried up credit, job losses and dampened consumer

AD ADV A ADVOCATE DVO DV VOCA OCATE A E

confidence has been devastating for many small businesses, and Congress will work with the Obama Administration to help get small businesses and our economy back on track. First, I intend to work with Presidentelect Obama and his economic team to use existing authorities, including the Troubled Asset Relief Program administered by the Treasury Department, to normalize the credit markets on which SBA lending programs depend. We must remain vigilant in ensuring adequate capital, the lifeblood for small businesses. Second, I intend to help Presidentelect Obama pass a significant economic stimulus bill that makes long-term investments in our country and will lead to long-term jobs. Immediate stimulus through rebate checks can be appropriate and boost consumer spending, but investing in infrastructure that will position the United States for long-term global competitiveness will also create lasting jobs for small businesses and should be the centerpiece of this effort. Third, I intend to work with the president-elect and my colleagues on both sides of the aisle to lower healthcare costs for small businesses and to ensure that their employees have quality, affordable health coverage. This election demonstrated that all Americans, including small-business owners, want solutions to the enormous challenges facing our nation. I plan to build on my record of bipartisan problem solving and deliver the solutions the small business community demands.

OUR COUNTRY FACES ITS MOST SERIOUS ECONOMIC CRISIS SINCE THE GREAT Raise the small business investment expensing limit to $250,000 DEPRESSION. WORKING FAMILIES, WHO SAW THEIR INCOMES DECLINE BY $2,000 IN through the end of 2009: Obama and Biden will give small THE ECONOMIC “EXPANSION” FROM 2000 TO 2007, NOW FACE EVEN DEEPER INCOME businesses an additional incentive to make investments and start jobs again by providing temporary business tax incentives LOSSES. RETIREMENT SAVINGS ACCOUNTS HAVE LOST $2 TRILLION. MARKETS HAVE creating through 2009. The February 2008 stimulus bill increased maximum FALLEN 40% IN LESS THAN A YEAR. MILLIONS OF HOMEOWNERS WHO PLAYED BY Section 179 expenses p to $250,000 $ , but this expires p in December GAGE PAYMENTS AND FACE FORECLOSURE AS S 2008. THE RULES CAN’T MEET THEIR MORTGAGE 20 2 008 08. Th 08. T his is p r vision will encourage all firms to pursue investment ro This provision EA E ARLY AR RL R LY THE VALUE OF THEIR HOMES HAVE PLUMMETED. WITH CREDIT MARKETS N NEARLY ALL CANNOT ACCESS THE CREDIT TH T HEY EY N NEE EE ED FROZEN, BUSINESSES LARGE AND SMALL THEY NEED S.. BARACK OBAMA AND JOE BIDEN BID IDE DE EN N HA HAVE VE A TO MEET PAYROLL AND CREATE JOBS.. EAT E GO G OOD OD D JJOBS OBS OB PLAN TO REVITALIZE THE ECONOMY. 1. IMMEDIATE ACTION TO CRE CREA TE GOOD R STRUGGLING FAMILIES 3. D IR REC ECT, IIMM ECT M ED MM DIA ATE T IN AMERICA2. IMMEDIATE RELIEF FOR DIRECT IMMEDIA T A BAILOUT FOR IRRES SPO PONS NSIB IBLE IB BLE M ORTG OR RT TG GAG A E ASSISTANCE FOR HOMEOWNERS, NOT IRRESPONSIBLE MORTGAGE ESPONSE TO OUR FINANCIAL FINAN NC CIIAL AL C CRI RISI RISI RI SIS, S, U SING SI NG A NG LL in tthe LL LENDERS 4. A RAPID, AGGRESSIVE RESPONSE CRISIS, USING ALL h c he com omin om ing in g mo mont nths nt h , bu hs b w illll p articularly y benefit small firms which coming months, butt wi will particularly OO O OD JO OB BS S IIN N AM A AMER MERIC ER RIC CA. Ag THE TOOLS WE HAVE. 1. IMMEDIATE ACTION TO CREATE G GOOD JOBS AMERICA. ge en ne era era r lll y ha have v s ve m llller ma e a er moun mo untts ts of annual p property p y p purchases generally smaller amounts and d so c cho hoos ho ose os e to expense exp e xpen xp ense se tthe se he cost he cost of their acquired q p p y choose property. OBS THIS YEAR -- A ND N D S OM OME ME FO OR RE ECA C ST STER E S an ER THE ECONOMY HAS LOST 760,000 JOBS AND SOME FORECASTERS Zero ro o c cap apit ap pital al g gai ains ai ns n s rrat ate at e fo ffor or in nvestment in small businesses: capital gains rate investment O EXCEED 8 PERCE EN NT TB Y TH THE EE EN ND OF N EXT Ze EX EXPECT THE UNEMPLOYMENT RATE TO PERCENT BY END NEXT Bara ra ack c O ba ama ma a nd d JJoe oe e B id den en b elie elie el eve that we need to encourage g Barack Obama and Biden believe RISIS WILL HELP PRE EV E VENT EN NT THE TH HE MO M OST S S E ER EV ERE RE Ba YEAR. ADDRESSING THE FINANCIAL CRISIS PREVENT MOST SEVERE inve nve vest stme st ment me nt iin n small smal sm alll businesses al bu b us siine ess sses es e s tto o help p create jobs j investment and turn our EP E PS TO C RE EATE TE JO JJOBS BS SW ILL in IL LOSS OF JOBS FROM THE CRISIS. BUT TAKING DIRECT STE STEPS CREA WILL e con onom omy om y ar a rou ound n . Th nd That at’s at ’s s w why hy y tthey hey he y will eliminate all capital gains economy around. That’s ND HELP WITH THE E FI F NA N ANC CIA AL CRIS CR RISIS IS SIS S. BA ARA ACK CK ec ALSO STRENGTHEN THE ECONOMY AND FINANCIAL CRISIS. BARACK ONOMIC AGENDA IS P RO-J RO -J JOB OBS, S IINCLUDING NCLU NC LU L UDI DNG NG GT THE HE H EIR R OBAMA AND JOE BIDEN’S OVERALL ECONOMIC PRO-JOBS, THEIR ENDENCE ON FORE EIIGN E G O IL L A ND D B RIING NG D OWN OW PLANS TO ELIMINATE AMERICA’S DEPENDENCE FOREIGN OIL AND BRING DOWN D BIDEN BELIEVE W WE EM US U ST TA KE EA ADD DD D DIT TIO ONA NAL L HEALTHCARE COSTS. BUT OBAMA AND MUST AKE ADDITIONAL T JOB CREATION R RI IGH HT NO NOW OW: W: 2 MME EDI DIATE DIA TE AGGRESSIVE STEPS TO JUMP-START RIGHT NOW: 2.. IM IMMEDIA VEN WHEN THE OV O ERAL ER A L EC CON ONOM OM MY WA S RELIEF FOR STRUGGLING FAMILIES. EVEN OVERALL ECONOMY AS NG N G IIN N TH T HIS S G RO OWT WTH. T HE E taxe GROWING, MOST AMERICAN FAMILIES WERE NOT SHARIN SHARING THIS GROWTH. THE ttaxes axe es on o iinvestments nv n ves e tm tmen ents nts t m ade in ad n s sma malll a ma nd start-up p businesses. made small and NE B NE BY Y MO M ORE R T HAN $2 HA 2,000 Th TYPICAL NON-ELDERLY HOUSEHOLD SAW ITS INCOME DECLIN DECLINE MORE THAN $2, The ey a ey lso want ls lso want wa nt tto o cu cut ut ta ttaxes xe es for for the fo the small sm mall businesses that create They also EE EKL KLY Y WA GE ES, S, A D US DJ STE ED jjo FROM 2000 TO 2007 AS EXPENSES SKYROCKETED. WEE WEEKLY AGES, ADJUSTED jobs bs b bs ut a ut rre e s t uggl tr ug gg glin gl in ng wi wit th re th res estrriic cte ed a ccess to credit on top p of but are struggling with restricted access WER RE A DECADE D CA DE ADE AGO. AG GO O. O. BARACK BARA BA RACK RA CK K sk FOR INFLATION, ARE NOW LOWER THAN THEY WERE s yrroc y ocke ocke ke eti ting ting ti g h ea ealt alt l h ca arre e a nd e ene n rg ne rgy co c osts.. Make credit available skyrocketing health care and energy costs.. to s ma m allll b us u sin ines esse es ses s an and st and s ae o at orr llocal ocal governments: g Third,, we small businesses state ONOMIC PLAN WIL LL R LL ELIE EL IE EVE V T HE S HE QU UEE EEZE O N to OBAMA AND JOE BIDEN’S OVERALL ECONOMIC WILL RELIEVE THE SQUEEZE ON shou ould ou ld d ttake akke imme im mme edi diat ate at e st tep ep ps s to t s upp up po ort rt non-financial institutions should immediate steps support ROWTH. BUT THEY EY YA RE EP RO OPO POSI S NG GT HAT WE HA E sh FAMILIES AND FOSTER BOTTOM-UP GROWTH. ARE PROPOSING THA ncl clud udin ng sm s mal all bu usi sine ess sse es a es nd d s tatte ta es and municipalities. The including small businesses and states MEDIATELY: 3. DIR REC ECT, IIM MME MM ED DIA ATE E A SSIS SS STANC A N E in NC IMPLEMENT SEVERAL MEASURES IMMEDIA DIRECT IMMEDIA ASSIST ANCE

p the avai aila ai lab biility y o iq qu uid idit itty fo fforr fi ffinancial nanc nc cia ial in iinstitutions nst stit itut utio ions ions io n a nd, mo nd nd, m orre e rrec ecently, ec y, have created a p program g Federal Reserve and Treasury have acted to preserve availability off lilliquidity and, more recently, y from the large g corporate p issuer rs. Sm rs S a l bu al usi sine ness sses ss e a es nd s nd tatte ta te a and nd llocal o all g oc ov o ver ernm rn nm ment. Address the credit crisis to purchase commercial paper directly issuers. Small businesses and state government. ress the massive credit crunch th ha att iis s threatening th thre hre eaten aten at e in ng America’s Amer Am erric e ica’ a’’s sm a mal all bu busi usi s ne ness sse es, B es arack Obama and Joe Biden facing our small businesses: To address that small businesses, Barack g y lending g fa ffacility ciiliity ty for for o s malllll b ma bus usin us ines in es esse sse ses s that th hat at c o ld ou d b e rru un th tthrough hrough g the SBA’s Disaster are proposing two immediate steps: ((1)) a nationwide emergency small businesses could be run nds of businesses in the wake of 9/11; 9//11 9 11;; and a d (2) an ((2 2) temporarily t m te mp por orar rar arilili y eliminating e im el min nat atin ing fees fe ees s on on the t e SBA’s th SBA’s 7(a) SB ( ) and 504 loan Loan Program, which helped thousands esses,, to help p increase p private lending g fo fforr sm smal alll bu all b siine s ness sses es s. Pr P Prov rov ovid id de ta ttax ax x re reli lliief ie eff ffor or s malll b ma u inesses and startus guarantee programs for small businesses, small businesses. Provide relief small businesses st tar a tt up a nd n d s mall b ma bus usin us in nes ess ses to e se nc n cou urage iinnovation nnov nn vat atiio on and job creation. up companies: Obama and Biden willl eliminate all capital gains taxes on s start-up and small businesses encourage

y p providing g a $ $50 00 “M “Mak a in ak ng Wo Work rk Pay y” ta tax x cr c re redit to al lmost e eve very ry y w wor o ke or kerr in n America. Ame eri rica ca.. Obama and Biden will also support small business owners by $500 “Making Pay” credit almost every worker rs p pay y both the employee p y and the employe p yer s ide id e of the the h p payro y oll ttax ax x, and an this m easure re w wil illl re redu duce ce the the e burdens bur b urde dens ns Self-employed small business owners employer side payroll tax, measure will reduce ational network of p public-private p business iincubators: ncub nc ba attor ors: s O s: bama ba ma a nd d B iden will su upport en entr trep epre prene neur ursh ship ip p a nd s spu purr p of this double taxation.. Create a national Obama and Biden support entrepreneurship and spur etwork ork of public public-private private business incubat incub tors rs s.. Bus B usin us usines in nes ess in incu ncu cuba bato to ors rs ffacilitate acilitate ac a cilitate ilitate the c ritical itic cal w orkk of entrepreneurs or e ent ntrepr ntre pren en eneu neurs eurs iin n job growth by creating a national network incubators. Business incubators critical work er ye yea ar to o in iincr crea cr rea ease ase s tthe he num he n um um mber ber and si size e off incubato incu in cu cuba bato tors rs iin n disadvantaged disa di sadv sadvantage dv dvan nta tage ged d creating start-up companies. Obama and Biden will invest $250 million pe per year increase number incubators en nt exp pensing g lim mit to mi o $ 25 50, 0,00 00 through gh the th he end end of o 2009: 200 009: 9: Obama Obama ma and and communities throughout the country. Raise the small business investmen investment expensing limit $250,000 ttm ments s a nd sta artt c rea re attin ng jobs j b jo bs s a ga ain n b y p rov vid i in ng te temp mporrar a y business busine ess tax tax Biden will give small businesses an additional incentive to make investm investments and start creating again by providing temporary

ary y 2008 stimulus stimulu us bill biilillll iincreased b ncre nc reas ased ed maximum max m xiim mum Section Sec ecti cti tion on 1179 79 e 79 xpens xp en nses ses to $250,000 $250 $ 0,00 000 but but this bu th his s expires exp pires in December Decemb De mber er incentives through 2009. The February expenses pur urs ur su ue in inve vest ve stme ment nt iin n the c oming g m mo onth onth hs, s, b utt w ilill p part pa r icularly y benefit small firms which g gener e al ally ly y 2008. This provision will encourage all firms to p pursue investment coming months, but will particularly generally operty p y p purcha ha h as as se es es an and d so c hoos ho ose e to o e xp nse xpen xp e tth he co he ost o h irr a he cquired p cq pr rop perty ty. Zero ca c pital gains p g rate ffor o or have smaller amounts of annual property purchases choose expense the cost off ttheir acquired property. capital ack Obama ma m a a nd JJoe oe e B Bid iden en b bel elie ieve tthat hat we n hat eed to o e ncou nc cou ura rage ge g e iinvestment nvestmen nv nt in sma all businesses to help p create c eate cr te investment in small businesses: Barack and Biden believe need encourage small hy tthe hy hey y will will e eli limi mina nate te all c ap pital g es on es on in iinvestments nve vest stm tments ma ade in sm s all and start-up p businesses. busines sse ses.. jobs and turn our economy around. That’s w why they eliminate capital gains taxe taxes made small e s sm mal allll bu busi sine si ness sses es tthat hat cr ha crea eate te jjob bs but are strugg gg gliling g w i h rre it est stri rict c ed ac ct ccess s to credi d t on top p of skyroc y o ke keti t ng g They also want to cut taxes for the small businesses create jobs struggling with restricted access credit skyrocketing c ed cr edit it available ava a vaililab able e to to small businesses bu usines sses ss es and state or or local loca lo oca cal governments: go ove vern vern rnme m nt me n s: Third, Third,, we should should take immediate steps ste eps health care and energy costs.. Make credit

udin i g smal ness sses a nd s nd tate ta te tes es a nd mu m uni nici cip pa alil ti tie ies es. Th T he Fe Fede de d era al Rese erve and Treasury y have acted d to to support non-financial institutions includ including smallll busine businesses and states and municipalities. The Federal Reserve preserve the availability of liquidity for or financial institutions s an a and, d,, m more ore re or rece recently, cent n ly, nt ly y, have c created reat re ate ated ed d a p pro program rogr ro gram gr g ram m tto o p purchase com commercial o mercial p paper p directly y from the large corporate issuers. Small businesses usinesses and st state tate e an and loc local cal governm.ent. ca gov g overnm. m.en e t. Ad en Address dd d dre ess ss tthe he e c credit redi re dit di it cr cris crisis is sis s facing g our small businesses: To address the massive credit crunch that is threatening hreatening g America’s sm small bu b businesses, usi sine nesses,, Ba Barack ara ack O Obama bama ba ama a a and nd JJoe nd oe e B Biden iden id den en a are re e p proposing p g two immediate steps: p (1) () a nationwide emergency lending facility y for small businesses es tha that at cou c co could ould d be run tthrough hroug gh g h tthe he S he SBA’s B ’s BA s D Disaster isas is sas a te terr Loan Program, g , which helped p thousands off businesses in the wake of 9/11; and ((2)) temporarily p y elim eliminating iminating g fe ffees ees es on the SB SBA’s BA’s 7 7( 7(a) (a)) a and nd 5 504 04 lloan 04 oan oa n g gu guarantee uarantee p programs g for small businesses,, to help increase private lending for smallll businesses. Provide tax x re rrelief eliief ef ffor o small bus or businesses usines sses se es an and d st s start-up arrtt-up up c up companies: om ompanies: om Obama and Biden will eliminate all

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o m s a f o l

FEATURE ARTICLE

THE FIRST

100 DAYS

With President-Elect Barack Obama in the White House and significant gains among Democrats in both the House and Senate many small-business owners want to know what is in store for the small-business community. Understanding that the first 100 days of a new administration and a new Congress is the most critical period for establishing a governing doctrine, NSBA is busy pushing the small business agenda. An agenda that not only promotes small-business, but an agenda that will help the American economy recover. by Greg Smith

he U.S. is set to see significant change as a solid victory for Barack Obama, along with the significant gains in the House and Senate among Democrats, overhauls the power structure in Washington. President-Elect Obama will face substantial challenges during his first term: a faltering economy, broken health care system, and energy independence. However, his success in addressing and overcoming these challenge hinges on how he handles the small-business community.

first 100 days are even more crucial now, given the lagging economy and somewhat dismal outlook many Americans have. There are a number of actions — ones that stand to significantly and positively affect the small-business community — that can be enacted during this crucial time frame. Some of these actions literally can be achieved on day one with the stroke of a pen, while others will demand coalition building and a cooperative strategy to reach across the aisle to develop pro small-business legislation. Given the state of influx with the Senate Democrats who currently hold 58 seats — just shy of a filibuster-proof majority of 60—with two seats up for grabs in Minnesota and Georgia, Democrats appear to be embracing the need to work with Republicans.

While Obama has talked about needing to measure his accomplishments over the first 1,000 days, rather than the first 100—typically seen as a key measure of a new administration-there are actions that can be taken in the first 100 days to immediately achieve real and significant change. In fact, the

As a staunchly nonpartisan organization, NSBA urges cooperation among lawmakers of all persuasions and has created a list of key issues on which the small-business community urges prompt action during the first 100 days of the Obama Administration and 111th Congress.

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he No. 1 concern for voters this past election — by far — was the economic crisis: Sixty-three percent of those who responded to exit polls ranked the economy as their biggest concern. That compares with 18 percent who saw the economy as the largest problem in 2004. Historically, when the economy goes into the tank in a presidential election year it is almost impossible for the party in power to retain control of the White House, and this election proved no different. Since the economy was the driving force behind the electorate’s vote, President Obama and Congress must now offer real solutions that address the deep reaching economic crisis. As America’s traditional engine of economic growth — having created 93.5 percent of all net new jobs since 1989 — small business must be the cornerstone of any economic policy crafted by the Obama Administration and 111th Congress. During the first 100 days the following actions can be taken to help strengthen the failing U.S. economy.

Address the small business credit crunch. While long-term issues surrounding small business access to credit need to be addressed, it is crucial that near-term strategies and contingencies be put in place to deal with the effects of current market conditions on small business lending. Reform credit card practices. . Legislation should be passed to end unfair credit card practices, such as retroactive rate increases and universal default. While care must be given to ensure that credit cards remain a vibrant source of small business liquidity, a more fair and transparent system should be created. Strengthen the role and budget of the Small Business Administration (SBA). Eliminate fees on loan programs and elevate Administrator to cabinet. Also, evaluate, strengthen and expand the potential role of an agency dedicated to small business. Reauthorize a strengthened Small Business Innovative Research (SBIR) program. Though on temporary extension until March 2009, the main authorization for the SBIR program expired earlier this year. Long recognized as one of the most successful and innovative of government programs, SBIR directs a percentage of federal research dollars to small companies. The program should receive a long-term re-authorization that excludes large company participation and maintains a significant number of awards. Issue a strong Executive Order creating a more fair and significant role for small businesses in federal procurement. Although small businesses constitute half of the U.S. economy, the federal government continues to fail to meet its own 23-percent small-business contracting goal. Increase the share of federal contracts awarded to small businesses, eliminate fraud, ensure accurate and reliable data, reduce contract bundling, improve authority and oversight over contracting dollars, and provide appropriate treatment of subcontractors.

***

nother issue facing America’s small businesses — and falling in the top five issues that the electorate based its vote upon — is the nation’s pending energy crisis. Given that small business consumes a significant portion of the nations energy — nearly half of all of the electricity and natural gas used for commercial and industrial purposes - it is imperative that America’s small businesses be comprehensively involved in the effort to solve the nation’s energy crisis. That is why in the first 100 days there are simple but long-lasting actions that can be taken to address the problem, while reducing environmental and regulatory burdens. 10

Economic Development Issues

Energy, Environmental, and Regulatory Issues 1.

Institute a process to examine accumulated regulatory burden on small businesses, not just the incremental burden of each new regulation. Avoid the simultaneous creation of new regulatory burdens from different federal agencies. New regulatory burdens early in a new Administration—even if each is not significantly burdensome—could accumulate to a significant economic drag. Maintain a balanced regulatory process with a key role for the SBA Office of Advocacy. A strong and independent role for the Office of Advocacy—particularly within the administration—is critical to ensuring well-crafted regulations that efficiently achieve their goals without unnecessary burdens on small businesses. Significantly increase the share of the Energy Star budget dedicated to Energy Star Small Business. While small business constitutes half of the U.S. economy and a similar share of our national energy consumption, an extremely small share of the EPA Energy Star budget is dedicated to reaching these small companies. Consider the central role small firms plays in job and innovation creation and the unique needs of the small-business community in any “green jobs” initiative. Assisting the small business that are seeking increased energy efficiency or energy independence, through the use of renewable energy sources, should be a priority, as should aiding the small firms inventing the “green” technologies of tomorrow. ADVOCATE

NOVEMBER/DECEMBER 2008

FEATURE ARTICLE

ith a great deal of Tax Policy back-and-forth on the tax proposals of presidential 1. Avoid burdening the small-business community with ill-considered hopeful John McCain and Presidentattempts to close the “tax gap.” A number of steps were recommended by the elect Barack Obama, there still remains Bush Administration to close the tax gap, but many of these impose significant a great deal of confusion as to how administrative, reporting, and tax collection burdens on small companies, in order to collect taxes from other bad actors—despite a real debate about the efficacy small business will be impacted by of these approaches. While it is tempting to “score” these steps as easy revenue new tax proposals from the incoming raisers in a difficult fiscal environment, many of these recommendations may administration. When people were asked impose big IRS burdens on small businesses without a commensurate increase whether taxes would rise if Obama was in federal tax revenues. Repeal the recently adopted reporting requirement on elected, 71 percent said yes. But 61 credit card receipts. percent of the same sample believed that 2. End the Self-Employment tax on health insurance. Small business owners McCain would raise taxes as well. are the only members of society whose employer-provided health insurance is The most talked-about tax change subject to FICA taxes. Since the self-employed pay both halves of this tax (the of the election was Obama’s proposal so-called self-employment tax), it makes for a 15.3% tax on employer-provided to repeal a portion of the Bush tax cuts health benefits that no one else must pay. Ending this tax not only would end a for families earning more than $250,000 significant inequity, it would also greatly reduce the cost of health insurance for annually. While this particular proposal many self-employed Americans. focused on individual income tax, the 3. Permanently reform the estate tax by instituting a significant exemption prevalence of pass-through entities in indexed for inflation. The estate tax regime will revert to its 2001 state if no action is taken by this Congress. Small businesses need a permanent and the small-business community—those predictable system that is not eroded by inflation. businesses for which profits are taxed as 4. Equalize top marginal tax rates for corporate and pass-through entities. the owner(s) individual income—made it Higher marginal tax rates for Pass-through entities will put successful small a significant small-business issue. While businesses at a competitive disadvantage to larger businesses. Any increase in the jury is still out on Obama’s ultimate individual marginal tax rates should exclude increasing the marginal tax rates tax proposals, there are other eminent on the trade or business income from pass-through entities. Small business tax policies presently in place that harm should not pay higher taxes than larger businesses. the livelihood of the small-business community. These tax policies are not just burdensome and far reaching, but they are further exacerbating the road to economic recovery. NSBA offers the following tax policy issues that should be addressed by the Obama Administration and 111th Congress during the first 100 days to help foster entrepreneurship and the growth of small business.

Official Ballot

1/4

By the Numbers NOVEMBER/DECEMBER

*** HOW SIGNIFICANT OF A FACTOR WAS SMALL BUSINESS IN CASTING YOUR VOTE IN THE 2008 ELECTION? Very Significant

63%

Somewhat Significant

22%

Not Significant

10%

Unsure ADVOCATE

5% 11

FEATURE ARTICLE

Health Care and Workforce Issues

he trend in spiraling health care cost, coupled with current economic

trouble,

Move toward a health care system that reduces costs, improves quality, and

weighed

covers all as expeditiously as the fiscal climate will allow. While there are a

heavily on small-business owners and

number of individual reforms that can improve the functioning of the health care

voters alike. Ranked as the third most

system and keep costs in check, many of the most important reforms can only

influential factor in deciding who to vote

happen in the context of universal coverage and comprehensive reform.

for — according to an exit poll conducted

Consider the unique needs of small companies before imposing significant new compensation costs on small companies during a declining economy,

by Pew Center for the People and the

such as new mandatory leave requirements and new pay equity regulations

Press — the current health care system is

that could increase the incidence of frivolous lawsuits. The negative effects of

clearly broken. Even more disconcerting

detailed workforce regulations increase dramatically as the size of the business

is the disproportionate burden placed

declines, as basic logistics create enormous burdens.

on small businesses who offer health

Avoid new immigration enforcement rules that unfairly place the burden

insurance in comparison to larger firms.

of enforcement on the small-business community. Small businesses want to

That is why it is imperative that the

do everything they can to obey the laws, but becoming the front-line enforcer of

Obama Administration and Congress act

the laws (such as immigration) is more than many can handle. Also, mandatory use of the E-verify program poses grave concerns, at least until it has been fully

swiftly and prudently during the first 100 days to address the current state of the

proven and vetted. 4.

Oppose the Employee Free Choice Act, which could fundamentally alter

health care system. NSBA has identified

the nature of the small business-employee relationship. It is not yet clear how

ways in which the health care system,

such a change in the law would affect small businesses and their employees.

along with other workforce issues, can

Action should at least be deferred until the many small business questions about

be addressed to provide much needed

this legislation can be answered. Such a new law could create significant new

relief to America’s small businesses.

division at a time national unity should be a higher priority.

***

hile President-elect Obama has undoubtedly received

Official Ballot By the Numbers

myriad recommendations

on how to proceed during his first

100 days, NSBA urges his thoughtful consideration of the state of the U.S. economy and the important role small business will play in the recovery process. Furthermore, the broad implications of any piece of legislation on the smallbusiness community should remain a

21/4 /4

DO YOU THINK THE PRESIDENTIAL CANDIDATES ARE TALKING ENOUGH ABOUT SMALL BUSINESS? YES NO

17% 83%

constant consideration—not only for the first 100 days.

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NOVEMBER/DECEMBER 2008

ON THE TRAIL

Tallying the Score: A Look at this Season’s Winners and Losers By Molly Brogan

=n the face of it, this district, but state Rep. Steve Driehaus elections winners (D) proved too much for the seven-term s e e m s o b v i o u s : Congressman. Not only did Chabot’s loss B a r a c k O b a m a , put another check in the victory column c o n g r e s s i o n a l for Democrats but it also means that the Democrats, and House Small Business Committee will the Democratic Party. Yet the ultimate say goodbye to its current ranking member. verdict on the victors will come not The status of House Committee Chair from a single night of election returns Nydia Velazquez (D – N.Y.) still remains but from the actions the winners take to to be seen. Speculation continues to mount remedy the nation’s economic ills and that the Congresswoman could relinquish myriad other issues weighing heavily her post to assume chairmanship of a on the minds of Americans, including prominent subcommittee or even ascend small-business owners. to a Cabinet member in the Obama While it appears unlikely that Administration specifically as the head of Democrats will secure the filibuster- the U.S. Small Business Administration. proof 60 voter majority they were seeking in the Senate – final tallies will SENATE SMALL BUSINESS COMMITTEE not be known until after Georgia’s Dec. Sen. John Kerry (D-Mass.), the 2 runoff between incumbent Republican chair of the Senate Committee on Small Saxby Chambliss and his Democratic Business and Entrepreneurship, seems challenger, Jim poised to claim Martin, a former the gavel of the state representative “Yet the ultimate verdict Foreign Relations – it is clear that on the victors will come not C o m m i t t e e both chambers of from a single night of election as a result of Congress have returns but from the actions Joe Biden’s an overwhelming the winners take to remedy s i m u l t a n e o u s majority of the nation’s economic ills victories in both Democrats holding and myriad other issues” the Presidential seats. As a result, and Senatorial new leadership races. This most and key appointments to committees likely would result in the accession of will be forthcoming in the months ahead, Sen. Mary Landrieu (D-La.) to head the particularly for the House and Senate Senate’s Small Business Committee. Committees on Small Business. The future of the Senate’s Small Business Committee Ranking Member HOUSE SMALL BUSINESS COMMITTEE Olympia Snowe (R-Maine) still remains Rep. Steve Chabot (R-Ohio) has unknown. Snowe is poised to relinquish her withstood several tough challenges over post in pursuit of ascending to chairmanship the years in his conservative, urban on a more prominent subcommittee.

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Winners & Losers 1. 2. 3.

President-Elect Barack Obama & Senator John Kerry (D-Mass) State Representative Jim Martin (D - Ga.) Senator Saxby Chambliss (R - Ga.)

Although Election Day has come and gone and a new President-elect readies for the White House, the future of Congress—along with small business interests – remains undetermined. A number of U.S. House races, separated by a small margin of votes, are still being counted, and two critical U.S. Senate races have yet to be decided: Minnesota and Georgia. All that remains certain is that the true winners and losers of the 2008 election will only be known once policies are crafted and how those policies effectively consider small business issues.

COUNCIL UPDATES

On the Horizon Positive Developments for Exporters Appear Likely by Jim Morrison

The outlook for small business exporting over the next few years is mixed, but marked by some important opportunities. In the area of export financing, so important to maintaining the flow of U.S. exports, both the SBA and the ExportImport Bank – the federal agencies that guarantee commercial bank lending for exports – are considering sharp increases in direct lending by the government. Commercial banks may be used as intermediaries for this government lending. Because the export financing situation has global implications, several major international organizations, like the Organization for Economic Cooperation and Development (OECD) and the World Trade Organization (WTO), are now involved in seeking global solutions. Here at home, Congress seems likely to require banks that accept government aid to strengthen their own lending, including their export lending.

Export financing is not the only area where upgrades are likely. A more robust approach to export promotion by the federal government also seems to be forthcoming. Compared to its key competitors, the U.S. is a laggard in most measures of export-promotion activities. Now several major business groups, including SBEA, are urging Congress and the new Administration to do more – especially for small-business exporters. A more aggressive export push could pay big dividends in high-paying jobs at home and a lower trade deficit — which would reduce the need for the U.S. government to borrow overseas. The fate of several trade agreements negotiated by the Bush Administration – with Colombia, Panama and South Korea – is uncertain in the new Congress. But if the worldwide agreement to stimulate trade, known as the Doha Development Round, comes to fruition next year and includes key benefits for the U.S., then Congress and the Obama Administration may well support it, partly as a way to demonstrate U.S. commitment to working closely with other nations.

Out with the Old In With the New SBIR Reauthorization Gets a Fresh Start with the 111th Congress by Jere Glover

It is no secret that the Small Business Innovation and Research (SBIR) program is a success, but unfortunately its reauthorization is never a sure bet. That is particularly true now with many interests vying for limited Federal budget dollars, not to mention that SBIR continues to have its adversaries who, for various reasons, oppose the program. SBIR Reauthorization had a particularly troublesome and rocky road in the 110th Congress and to date the reauthorization legislation has not been approved. The Small Business Technology Council (SBTC) worked feverishly this past Congress to maintain integrity in the SBIR Program and to keep small business intact, while special interest groups, such as Venture Capitalists, lobbied Congress and blitzkrieged the media to get a part of the SBIR pie. With the 110th Congress currently in a lame duck session and Senator Coburn obstructing progress on S. 3362, it is all but guaranteed that nothing

will get done on SBIR reauthorization until the 111th Congress. However, with a new Congress comes a renewed chance to start over from scratch in drafting SBIR Reauthorization legislation. The most pressing issue we face now is that SBIR expires on March 20th, 2009. It would be very optimistic to think that a new SBIR reauthorization bill will get to the President’s desk before March 20th, 2009, so there will likely need to be another extension. With a new President comes a new agenda, and that added to the current economic crisis means that the new Congress will have a full plate when it comes to town. There will be plenty of freshmen Congressional members, along with new members on the Small Business committee, who will need to be educated about the SBIR program. Given that this issue is not likely to be a top priority for many members of Congress it is important, now more than ever, that all SBTC members become active in reauthorization efforts. A simple way to get involved is to take part in the monthly SBTC Membership Call – details can be found on the SBTC website www.sbtc.org.

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ADVOCACY & EVENTS

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008 NSBA repr staff me e to d sentativ t with iscu es fr ss o legis latio retirem m AARP entn. savin gs

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October 31, 2008

November 7, 2008 NSBA staff attended a Center for Plain Language symposium.

NSBA staff met with officials from the U.S. Federal Reserve Board to discuss their proposed creditcard reform rule.

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Nov

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r 18 Sma , 20 08 Sta ll Busin ff with atten ess IRS d the the IR s mee Forum S l ting a to t e per tain st info gain r bus i ines ng to mation sma ses. ll NOVEMBER/DECEMBER

14, 2008

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2009

Small Business Congress Unlocking the Puzzle

Hyatt Regency Bonaventure * FT. LAUDERDALE, FL * FEBRUARY 12 - 14, 2009

1156 15th Street NW Washington, DC 20005 nsba.biz

y da bc To /s ER Biz ST A. GI SB RE N at

Join NSBA for one of this year’s most important small business conferences – the 2009 Small Business Congress and Economic Summit – a NSBA event that should top the calendars of small-business owners this year. Following in a long tradition of NSBA smallbusiness congresses, this year’s small business congress will bring small-business owners together with Washington decision-makers, policy experts, and prominent leaders within the smallbusiness community. The event will kick off with an Economic Summit focusing on the multi-faceted role of small business in the U.S. economy. The summit provides a forum for discussion and deliberation about the crucial role of small business to the U.S. economy and obstacles facing the small-business community in continuing to fulfill that role. The 2009 Small Business Congress is also a time when NSBA brings together its members to discuss pertinent issues for small business and vote on the top priority issues for the upcoming session of Congress. This select group of small-business owners significantly influences how policy makers address small-business issues throughout the Congressional Calendar — issues that directly impact small business all year round. You will not want to miss your chance to hear key speakers, network with government officials and one another, and set legislative priorities for the 111th Congress.