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funded by these television companies and more including cox. connection is needed most cox is help. bringing affordable internet to families in need support from girls club whenever and wherever it matters most, we will be there. cox supports c-span as a public service along with the■óse othe. giving you a front row seat to democracy. >> willee joined by jeff brave and federal president for the national federation of independent businesses but were talking the. program.come to the >> thank youor having me pick. >> who are p the business owners them?f your organization? was our average member has about

independent business started in 1943 by wilson. it's a start as an alternative to large businesstions. we have dues on our membership. business owner you could all pay small fee a small sum of meyan't canget you at the federal state level. it's a real alternative. if you are concerned your voice is not being heard in washington is aei small business owner a group like nfib gives you your voice inn■] >> it is been several years since the pandemic, or small busi i u.s.? what's two biggest issues with the monthly survey we've been trackingki for decades are inflation access to qualified inflation as we all know as consumers earn is been a real problem. anything to hp be welcome from small business owners axis qualified workforcee reasons inflation has been so difficult to dealh it's hard

to get good workers and conjugal increase her wages and benefits which again was been a real difficult cycle were dealing with■0. cross you put up of the call thw ti there's a lot that goes into it i understand. but in general how optimistic or small business owners? >> right now the■x below historic averages. little below average. there's a go into that the economy is fairly strong when you measure in terms of the unemploymentate. there are issues with corporate workforce the regulatory environment has a little bit to do witheople understand low unemployment rate the business is doing okay they see environment could dip the optimism. c

approximate jobs report numbers most recently have got. 272,000 jobs added in may unemployment about the unemployment rates, ou sfill the positions they've ? how difficult has that been? looks like a business issue itt>@ee issue. those positions because of that we are finding small business increasing compensation month over month your small business owner pretty might not have platinum benefits the larger competitors have. than large and business owners been trying to attract employees. >> we talked about inflation how is that affecting small business owners? most small buss owners there able to get credite expensive to getut credit.

been very low up until recently. with those increasuch more expensive to get credit and probably is not helping flry much. >> you can start to call you have a question, a comment for jeff national federation of independent businesses about we do have a line set aside for small business owners we would love to hear from you b number 2027488003 same number you us. otherwise her prevalee democrats two 202-748-8000. independence 202748 house council of economicwh advisors heather was asked aboue actively looking for work posted pandemic part response. >> the noise that remains in the

me■8no driving so much difficulty forecasting data which is why these numbers frequently below paster re also seeing participation rates struggled to get back to her it was before covid. w happen? >> i will part participation rate in a note secretary suit might've talked about earlier number we watch and closely which is among women between 25 and 5o see yet anothr month of record height labor force participation rate record high near employment rate for last we have not come all the■7■e■res about the aging of b the labor force what's happening old works. this recovery and pandemic is made hard for economists to rely on the have had.>ya little bit differee

more agile given what is happening but for the most we are getting a sense of what is going on i will say it was nice to seat this month we exceeded expectations so much on the payroll >> what you think? >> obv market. the shutdowns, long-term l unemployment for certain some of the government programs that increase unemploymentnd historis have made it so there's a significant lag to get people back to&.■d years removed from those policies and increases on they g people home those policies be a struggle to have a disruptive event to get h people back to te workforce. a lot of people decided to make 2significant career changes loud people decide it may be a want to work remotely. been doing for the last 20 years i've had it year to sit and reflect on it.■

we would support any policies they get more people into the workforce to help t smaness ecoo thrive. >> other big issue during the,) pandemic was supply chain issues for small businesses. they recovered from that are there any lingering issues with supply c? oxygen think we have some lingering issues that it's in a much better place than it was several years ago. luckily has significantly improved and what i understand i'm not an economist but from what it still afflicting inflation to a degree but not nearly to the degree it. >> president of your organization wrote an opinion piece in the washington times with the headline to waste congress and give small businesses relief. one of those as a t■!mp year to make■q per extend them, or why question. >> next year were looking at tax over 30 million small business owners. when youodds are you will be a e

proprietor. yo what's called a past or business you that seek corporate all thek corporate was out at 21 that's great the vast majority, over 90% of small business owners are pastor b that means they paid the individual rate one thingut a neat tax cuts and jobs act give pari t partnerships are llcs with 20% dedun to be at 37% the c corporation was at 21% of your sole proprietor you start out your new entrepreneur u like i pay 37% effective tax rate at myntrporay paying 21%? that is unfair congress greeted adethis thing called the 20% deduction we dubbed the because% can take advantage of it that brings your effective rate down aoteñ to that of the seat corporate. other things go intohat when you're paying individual rights

five of the seven marginal rate brackets also increased in 2025 top rate goes from 37 to 396 t looking at significant tax increase we estimate o 30 million small business owners ifif congress fails to act■$.the opinion is out regulation what business because allbu kinds lol state level the one radar right now that we are trying to make sure congress is the new beneficial ownership reporting this one is uniquely targeted just at small business owners. that does not happen very much position built from a few years ago or a■wess with 20 or fewer employees less than 5 million in less than 5 million in■v revenue to register their business anyone has a beneficial owner having more 2 equity in the company having

substantial control over the ol piece gets tricky, what does that mean? very broadly defined small restt with six employees of general managen substantial control after register. if you uses that definition. >> what is it mean to register?s enforcement network. their house are thek.epartment of treasury. their job is to stop financial crimes. basically in intelligence agency to stop financial crimes. to register them by the ef to bl businesses go to their website file your business address. a copy of any owner's drive license. as well as a few other pieces of information. tax payerf identification numbr o the end of the book to jail for up to two years and get e 10,000 dollars in fines of $591 a day for late filings. this is a■7itf a scary thing it was done to address a money

laundering. the bigger concern this i n one and done legislation then you forget about if you need the information you provide changes you have 30 days to update it. l manager at your restaurant 30 days to let them k your driver's license expires a lesson you are doing you want to give the of a lot of things on your mind mostly getting to the dmv when your driver's lic■=yse expires. your businessddo let them know o lifetime commitment for small business owners think it will be effective in stopping money laundering wef you're interested it's a huge burden on small businesse estimates the burden over 10 years about 77 billion-dollarrtn entities a 32 million entities excuse me. >> you getting any tractionn congress to get that repealed?tr >> a repeal bill is one of the house one ofhe congressman warnick davidson at the house have a bill act.

center several cosponsors are fairly new bills and last month or a be difficult to repeal it whenever something gets passed this big is going to obviously bebeficult to repeal it. at a minimum members of congress eery aware there's a lot of small business owners out there who find this extremely and thet you remember of congress know if you're one of them. a. morning. >> good morning, thank you for taking my call thank you for being there. i have a question of the economic analysis when it comes to taxatio if i'm to understand this economic peace correctly on one hand because of the unemployment benefits being raised during the co packages that overheated the economy that led tos owners to combat. on the other hand

issue of higher taxes and trump tax cuts about to expire next taxes are deflationary pressure. it's the same thing with raising interest rates it might be harder in the short term the st of borrowing money is higher. overall that would decrease inflation tt affect small businessfl owners t affects everyone else. you willésoverall inflation wild and not that we have seen among thwn. so is interest rate hikes acts expiring will be even more the case because taxg, cuts annflation the opposite will be helping inflation inside of i am just wanting to ask the guest how d issues? thank you. 90% of small business owners will see a tax hike in less than years the sea corporate is permanent. if you are comfortable doing

with inflation by taxing the smalst bes and making them significantly le competitive with larger business owners is one way to do it. i drship would be supportive of that. has about seven employees these ar over 90% of small business economies looking at tax for example you own a small coffee shop the coffee shops. your federal effective tax rate counting states we will the federal tax rate for starbucks is going be 21%. peopo increase taxes to help with but not everything exists in a vacuum but we will significantly damage small business economy you are going to signicant eneurs when you do this.

almost every entrepreneur starts proprietorship they pay this rating and take advantage of we are comrtab while keepinge taxes same on the biggest busine is that is one way to do it. not be supportive of that. >> what do you think the bite ministration record has supporting small businesses from your perspecti()ve?the administt of the right r3ú things. they out a lot of statements think small businesses are very effective the facts of the facts. the regulatory environment in particular has bnrobl owners. we have seen a host of new regulations especially those coming out of the department of labor have made things significantly more difficult for small business owners. there h beenposa the president's budget that are proposed increase taxes on small businee7■ss one of the most frustrating things coming out o

house they say we are not we aro cap any tax increase. we for those making more than 40000 will increase taxesf you're under 400 were not what you tax increase. small business there is no definition of a small business . spa definition is■ñ up employee. just because you hav00 mean you take him $400,000 for that mang income which is then attacks and goes o business equipment and to expansion all the business operations. dhen you take a salary which is taxed separately. the whole 40000-dollar argument won't see a tax hike and because of wheat field falls a little flat. >> how do you d business? >> bill sb-8 make that

definition floyees seems big to me? it does the have employees write between seven and eight. tube that the definition congress came up with and it varies b industry. some are larger than frankly an easier one could beat 25. but still if you have 25 people which of the inlet would argue is a small business. you need a lot more revenue if you just want to pay employees butet line in georgia good morning. >> love c-span iva conger great network for 30 years t man, steve moore who ran the economy under trauma. one champion of small business and taxpayern country he ran the economy for trump and is on very good friend of mine he is doing a great job for small

businesses and the taxpayers. two members of the georgia legislature who are going afterd man knows there's tons of waste the government we areew for going but we loved sveim the nue champion of small business in the taxpayers in thenited states. >> you agree withhat is great. we have not worked with steve moore a lot i cannot comment too much on that i'm gladd you le sm and wish the best of luck of a. >> republican mike good morning. >> caller: good morning. the first is the real question should be how many small businesses are there in the united i states compared to 201? how many americans are employed by small businesses compared■uno

see into gauge businesses. there is not enoughth workers. we need to commit legally or illegally to fill these positions that is a red herring. with this judgment and i respect much what he should be saying with crt comic dei and all of the other they need to be learning the fundamentals so when they get se brains and cit thinking ability to feel these positions needed in all typ the last comment i would like to make and heart. minimum wage it should not be based on

government, all of tdiculousnes. the minimum wage should be based if you have the thousands of employees if you have offices all around the world you should be paying a higher minimum wage cornthan the pizzeria on the does anyone not understand this? >> we got that. >> to go back to comparing 2019 until now in the small business to come is ct my computers handy. but generallyt most are sole proprietors are not employers changes from y year< is a huge number

antumber touch on a fewch points.yusiness owners are agnostic don't have goodrkers. . we have restaurants,manufacturih every type of business you can thinkq" of. y you get down to industry specific some people needj# need skilled workers s it depens the education component matters forertain industries other industries not as much. agnostic about how to get the workers they just really the workers. lastly on minimum wage one thing i can minimum wage is very difficult for small busine benefit are very challenge if you have less than 10 not have the

economy of scale of let's say on to offer great wages and benefits you have thinner margins.you do not have necessay profit margins to offer those. wage and benefit mandates they have a disproportionately large impact ma b owners. time zone sent us this on x asking you how you feel about illegal >> generally does not take positions on immigration issues. one of the great things but an c process work we balance our■ memb how they feel about issues if we cannot get a we don't take a position. those issues wet get a consensus from our membership so we have not taken linda orange, connecticut democrats. >> good morning how are youse? goo

talking about the reporting requirements that are coming up at the federal you were mentioning how much it would cost small is there a required to report these changes? curious, t online? how would this cost small businesses that much money? earc is expected to report in your one thereafter is the estimate. nal es eor regulation they have to comeh a cost estimate for economy at large and small businesses. this is their tenure estimate it is not over one basically did ad said how long and how much time will it t■&■u come up with the dollar amount of what that's worth a small business owner. 'soi t

three hours that's two or three hours of your isorthf x. that's a victim up with the estimate than they estimate it and give your total economic impact analysis. business to register? what if they do not charge it ir there. >> chris, philadelphia pendent line. hi chris. >> h going? i work a business peon am getting cut out of a lot of deals that i should be in terms of hours that i worked. i am consulate being forced to work overtime and not necessarily gain the overtime. i wish i had that would be kind of nice. i was j opinion on that from that worker's perspective? business owners need all these

breaks. the people who work for t ses -- mike often times we have to do stuff well out of our description we need protection as well, man. >> i hear your employer is required by law to pay your time in■t half for overtime. he should be getting compensated for that. terms of theco benefits is the that thereal challenges small bs onowners face offering health the percentage of small business owners who offer healther inra is 8% since the passage of the affordable care■f the■t affordable care act. -- has significantly more restrictions and requirements. it has been a real challenge for small business owners. one of the things we hear the most is hard to attract qualified workers like yourself if you are not ablece. we are urging congress to, with new and intive

if you're a small employerer hd attract great workers. >> is at a question from robert on x about a.i.rall job number rin shrunk since a.i. became a popular tool for human employer ther job market how much has the rate of substitution of human workers with a.i. increase since the end of the pandemic. have you looked at that? >> i haveurned into the buzzword■ñ4u lately. i think many small business owners are not tooam industry-s. if you are operating a restaurar sma manufacturer you're probably not too familiar how this is you but realistically they think about a.i.'s computer technology and changing the workplace for ak8&d the computer

dirty a.i. this is been changing the workforce for some time and more about■b them.ne >> let's go to albany georgia, larry, line for democrats. >> i wkpld the economics and preside said that he had this greatomy. i have a small business in georgia and in in 2009 we had so many and black small owned businesses and we had a great economy that came underd president obamand president trump is taken the itit we knowur economy was the t in 2016 from president trump is ying he got the economy over 8 million of us know different, now small■s businesses i own a small business in georgia and

■5 time under small businesses we great between 2010 and 2014 and to you keep ue good work i like what saying and we had a problem where we had money during covid beusiness went down $10000 after covid and i filled out the forms andge on te last day we did not receive it we had a lot of people steal the money from us. what i want to ask if you can could you tell in 2015 accog to how the in 2016. >> larry, what kind of business do you read.

>> i run a lawn chair business and albany georgia, my grandson. >> how is business going for you. >> because of what happened i had to shut down my because the grant that i should've got to help me out i had to shut it down but i'm not■o■m complaining because nowm at retirement age and i will go the business but my great was business was great underñ president obama. >> i'm so sorry about your business shutting i know as you can speak owning a small business is extremely difficult there are a lote of pressures from staying afloat to get qualified employees is in a difficult task and if we go back in time to 2015 and 16 presideny it depends on your business if you had any changes 2015

over the first year as the new president and when that happens ge trump did was try to rollback regulation reduce the regulatory burdens and it loo lou ha me time to run your business and paperwork of your small business owner like a compliance team or legal team you do all the paperwork in the compliance work■rself but other than immediate positive thing in 2016 we haven't seen passage of the tax cuts andobs act so your tax environment was the same but regulatory was better i speak to specific business conditions on the grou where you're from but that is the bigger picture of what we were looking at whate a. ot a text from bill in newark many black small business owners are complaining that they're being undermined and botad and held to a highera standard to their counterparts of a different race like unfai loans and/or supports not given,

permits and costly overhead to operate whatup all business owners? >> i can't speak to anything specifically to black small business owners but there are federal and state laws that don't allow lenders to discriminate against businesses se race may ben there shouldn't be any discriminatory practices for permitting as well. i would encourage you if you against or report that to the authorities that should be ilga taylor: of your small business owner 2748 as though someone for republicans 2,028,000 for democrats,

2,027,488,002 for. we have ten minutes left in the segment. i want to ask you about the terrorist rib article from thank you which is biden cost china and 18 billion-dollar tariff hike but will it punish small business supply chain what do you think of that have elected tariffs on china could do for small. >> tariffs is a complicated one like immigration when we ask our membership comes back very split r example of course you're probably going to oppose that but if you are a retail person i be okay because you can think of can help make the united states moretive women taken

strong positions because we can get the 70% mark of the member supporting a policy i do understand if you're in certain industries they can be difficult to deal with in the c very >> danny and james town south carolina you're a small busines. the lady called and said how good it washenma we run separate tes and we can get a truck that would run because the exhaust on them for fou years i got was would have a heart attack every time t truck but that's the past we can't live in the past but winter became presidentmed to me i don't hear other people ing about the cost and supplyha but when trump was president we didn't have problem

tt the truck he rollback the stupid regulations on vehicles but they keep pushing them and pushing and its killings while businesses and thed government controls about anything with small dictating you have to bake the government to let you. i don't see a get better trump windward biden i don't see the small business getting better for anybody unless you give a government check all leave it at that governor i >> thank you for checkinghem you mention excessive rate under regulation of real cend7 one thing people forget and forget about thehe federal government that drives the discussion but state and local government are also entities a small business owners deal with with the a0■÷re environment

if you going to pass a relatively minor federal with local and and state regulation there cuti your business the subject are difficult to deal with. >> to endorse candidates. >> yes we we do not weigh in on the presidential but would you want senate, congress and local elections. >> jim is a small business owner in frederick maryland. >> i was going to say, small business with 20 employees and i've been doing this for a longe a seems like more and moreations and people in gel they have corporate jobs they don't ininsurance and requirements for

inking, a little while that they passed that says you have to gel these things add up and itot tas a lot of time promoting yousiosd it's not something everybody he makes itou easy you can jump online and register new state to have the time it's difficult to not there's a big burden on businesses and lives become more so in the last five or six years it like. >> you make great in whatever things nfib has always encourage is to take small business into consideration the regulatory possibil t there's

loopholes to get agencies around the they're supposed to consider less burdensome regulatory alternatives for s owners with regulations what does that meann ins they write r two that we conside businesses but we decide not to congress to reform the flex ability act to ensure that agencies are actually considering small businesses. wouldn't it be a great ideasm if we can have alternative lessll burdensome for small all about u don't have a l team and it's a burdensome and less time to deal withr business. >> the national federation o bul government relation vice president on

so much for joining us. >> thank you forav me ♪ >> c-span "washington involvingo discuss the latestss i public policy from washington, d.c. and across country, coming up tuesday morningal transition prt policy proposals for the next conservative administration with its dto dan's justice will talk about pending separate court decisions in the ethics question surrounding the c-span "washington journal" joining the conversation live en c-span, c-span now a f c-span.g. social security and med03