Tax cut legislation passed last year is resulting in small business growth nationwide, and is not just benefiting large corporations, Small Business Administration Administrator Linda McMahon said Monday.
"Small businesses around the country are ones who are really benefiting from this," McMahon told Fox News' "Fox & Friends."
"They're starting more businesses. They're growing their businesses. I have had so many of them tell me, we sent a letter out with bonus checks saying this was because of the president's policies."
Much of the optimism is from the tax cuts, but the regulatory rollbacks are helping as well, she said.
"They're giving bonuses, increasing wages, investing in equipment with the write offs under the tax cuts," McMahon said.
She also dismissed a complaint from House Minority Leader Nancy Pelosi that the bonuses the tax cuts have allowed are "crumbs."
"No, it's definitely not crumbs," said McMahon. "What is continuing is this optimism, is businesses that are growing throughout the country, starting, getting access to capital. That is what SBA does. We guarantee loans for people that couldn't get loans elsewhere."
McMahon is getting ready for the SBA's first virtual conference, which will begin with National Small Business Week's start on April 29.
"Come on, log into the virtual conference," she said, noting there will be several webinars through the agency's website, SBA.gov, on business plans, cash management, "all things that are important to small business. It will be terrific."
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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