Paul Ryan – Good For Small Business?
Fox Business‘s Kate Rogers reports conflicting views of small business owners on the 2012 U.S. elections. Is the choice of Paul Ryan as Romney’s vice presidential nominee good for them? Small business owners are discouraged by the current administration’s seeming lack of understanding for their plight and needs. The choice of Ryan is welcomed by some entrepreneurs. Ray Keating of the Small Business & Entrepreneurship Council says, Ryan “understands the impact of taxes and regulation on small business and entrepreneurship.” Roy Bonjean, Republican strategist, says Ryan, in his first week as candidate reached out to the small business community, conveying his understanding of their concerns and challenges. “Ryan’s budget and record are both consistently pro-small business,” he says.
With just three months till the general election, the campaign trial is getting dirtier and hotter. The Obama camp claims Romney is too “big-business” due to his work with Bain Capital, while the Romney camp is pointing to Obama’s controversial “you didn’t build that,” statements to show small business owners the president is out-of-touch with their needs and concerns.
Ray Keating, chief economist for the Small Business & Entrepreneurship Council said the congressman has a solid track record and comes from the pro-growth wing of the Republican Party.
“He understands the impact of taxes and regulation on small business and entrepreneurship,” he said. “He reduces the taxes on taxing risks.”
The “risks” Keating refers to would seemingly be taken by those making more than $250,000 annually, a group that President Obama has sought to raise taxes on. Ryan’s budget would make the Bush Era tax cuts on this high-income group permanent, according to the House Budget Committee site.
On the flip side, Keating said Ryan is in favor of reigning in spending, another concern for small businesses because it wipes out some of that “uncertainty” so many entrepreneurs feel is holding them back.
Ron Bonjean, Republican strategist and partner at Singer Bonjean Strategy, said in his first week as a vice presidential candidate Ryan immediately reached out to the small business community.
“Every time he gives a stump speech on the trail, he keeps saying, ‘You did build that,’” Bonjean said. “That is an immediate signal to the small business community that he understands their issues and challenges, and would promote a small business agenda.”
Ryan’s budget and record are both consistently pro-small business, Bonjean said. Like Keating, Bonjean said Ryan’s budget enforces cuts and he brings that mentality to the Republican ticket. Fiscal certainty will help to bolster small business hiring, he said.
“Regarding regulatory relief and tax relief that small businesses have needed, he has voted completely in support of small businesses,” he said. …
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