SUPPORTING SMALL BUSINESS
We can—and must—do more to support small business in Rhode Island and across the country. Over 99 percent of businesses in Rhode Island are small businesses. Small businesses are the fabric of our communities and the backbone of our state’s economy.
1) Empower Small Business:
Overburdensome regulation and red tape are holding back Rhode Island and our country from reaching our potential. We need to empower our innovators, our small business people, and our entrepreneurs. I will strongly advocate for enhancing our business climate so we can create more jobs, grow our economy, and fulfill our potential.
Healthcare costs are among the biggest obstacles facing small business. Health care reform resulted in some small businesses getting access to coverage heretofore that were unavailable. Unfortunately, many small businesses struggle to get access with the ever-increasing cost of coverage and mandates driven by the ACA.
– Make healthcare more affordable while meeting the needs of small business.
– Support small businesses that participate in Addiction Health Plans (AHPs), and enable access to the same insurance markets as available to larger employers. AHPs will permit companies and sole-proprietors to achieve the flexibility to obtain affordable health insurance for themselves and their employees while giving them relief from some of the costly requirements of the ACA.
3) National Regulatory Budget:
Federal regulations can sometimes stifle small business growth and development, which our current administration has recognized and has initiated the process of reducing regulatory burdens on small businesses. Current regulations have created excessive red tape, and plans to reduce excessive government involvement in the daily affairs of small businesses cannot be accomplished without understanding the unnecessary costs involved. The U.S. House of Representatives Committee on the Budget found that 30 times as many regulations as laws have been promulgated, costing American businesses about two trillion dollars annually.
– We need a National Regulatory Budget that will require the President to provide Congress with an estimate of the total cost to the private sector of complying with federal regulations. This will account for and control the burden that these regulations place on small business growth and development.
This situation will not be fixed until Congress takes steps to enact a system of tracking costing – out the economic and budgetary impacts of new and existing regulations. This will enable the Congress to establish target levels of federal regulatory costs. While a National Regulatory Budget is not a panacea, it would be an important step in gaining control of regulatory policy.
Create Opportunities for Rhode Island’s Small Businesses to enter the Federal Marketplace and Compete for Federal Contracts:
– We need to enhance the federal program to help small business grow and diversify.
Invest in Training Programs to Support Our Rhode Island and American Industries:
– We need to support our local industries here in Rhode Island and throughout the country by investing in technical training and manufacturing schools that dovetail with the needs of our advanced industries. I will advocate for worker training and apprenticeship programs that do so.