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Small Businesses Are at Near-Record Optimism But Give Trump Mixed Reviews

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By    |   Friday, 10 November 2017 01:18 PM

A year after the election, small businesses reportedly are at near-record optimism but give President Donald Trump mixed reviews.

The National Small Business Association's Todd McCracken reports optimism is near record highs among small businesses, but owners expect more and faster change, CNBC.com explained.

Small-business owners would like to see Trump focus on policies that stimulate growth and on working together with Congress.

The overall tone of the administration has been one of deregulation, with the president signing an executive order to curb new regulations and repeal older ones in his first month of office. The moves and continued message have sent the stock market and small business optimism to record highs over the past year.

However, key campaign promises, such as Trump's promise to repeal and replace the Affordable Care Act, have stalled.

"Small businesses are upbeat and positive about the economy. In general, they think the country is headed in the right direction," said McCracken, president of the National Small Business Association, a nonpartisan advocacy group.

"But in terms of accomplishments, I think they'd also say they had higher hopes on the policy front. They had wanted more pro-growth legislation, and more of the president and Congress working together on things."

Meanwhile, the National Federation of Independent Business, a powerful lobbying group for U.S. small businesses, on Thursday threw its support behind a Republican tax reform bill in the U.S. House of Representatives after a key lawmaker proposed changes, Reuters reported.

“We are very grateful to Chairman Brady for listening to our concerns and working with NFIB to ensure that tax reform benefits the greatest possible number of American small business owners,” NFIB President Juanita Duggan said in a statement, referring to Representative Kevin Brady, who heads the House tax-writing panel.

Earlier, Brady released an amendment to his own tax bill that would reduce the tax rate on the business income of small business owners.

(Newsmax wire services contributed to this report).

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A year after the election, small businesses reportedly are at near-record optimism but give President Donald Trump mixed reviews.
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2017-18-10
Friday, 10 November 2017 01:18 PM
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