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#BetterWay: House Passes Bill to Unburden Small Businesses

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September 08, 2016 | Ian Martorana (202-225-3031) | comments

Southern Wisconsin’s families continue to work hard to make ends meet in an uncertain economy, but too many—94 million all across America—aren’t looking for a job or have given up trying.

That translates to a nationwide labor-force participation rate of 62.8 percent, the lowest since 1978. That’s a record low that the economy has hit multiple times throughout this presidency.

As of 2015, Wisconsin’s labor-force participation rate was 68 percent in 2015. Although Wisconsinites are doing better than the national average—a testament to the work our state officials are doing—our economy can do better.

The backbone of Wisconsin’s economy is small businesses. Wisconsin has over 100,000 small businesses and they make up nearly 98 percent of all employers in the state. And today, the House passed H.R. 2357, the Accelerating Access to Capital Act. This bill is part of A Better Way, the House Republican agenda to tackle our country’s biggest problems, including a plan to grow our economy.

Upon passage of the Accelerating Access to Capital Act, Paul said:

“Small businesses cannot grow if their resources are swallowed by the government. This bill simplifies redundant regulations so businesses can spend less time on paperwork and more time hiring workers and expanding their companies. Our economy is nothing without productive small businesses—this bill offers a better way to encourage success by expanding capital access and removing unnecessary burdens. I’m proud to support it.”

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