Employment trends expert reveals ‘Small Business Wish List’ for the President
According to the National Federation of Independent Business, the Index of Small Business Optimism increased by 11 points this past quarter, rising to its highest point since December 2004. It’s easy to see that small businesses are very hopeful about a Trump presidency.
Rob Wilson, employment trends expert and President of Employco USA, says, “Many small business owners are backing Trump and feeling cheered about the country’s economic future. However, there are several things that the President needs to do in order to fulfill this optimism.”
Here, Wilson shares his “Small Business Wish List” for President Trump:
Small Business Wish List to President Trump
Replace Obamacare and include the following changes: Wilson says, “Small business owners need Trump to remove the mandate on individuals and employers, as well as reduce the amount of governmental oversight including the elimination of Forms 1094 and 1095. He should also allow employers to change employee eligibility back to 40 hours per week. And this is crucial: He needs to open up interstate insurance sales, as well as cancel the Cadillac tax.”
Establish 6 weeks of paid family leave benefit (maternity and paternity). Wilson says, “The new leave could require the same eligibility as FMLA (i.e., employee must work at least 1 year with 1,250 hours worked at worksite with at least 50 employees within 75 miles).”
Stagger the federal minimum wage increase. “The minimum wage needs to be staggered as such: $8.00/hr effective January 2019, $9.00/hr effective January 2020, and $10.00/hr effective January 2021. This will narrow the gap between cities/counties bordering with municipalities with higher minimum wage, which helps prevent company moves and gives consumers more money to spend.”
Permanently cancel the 2016 Obama administration overtime rule. “This rule puts a huge financial burden on many small businesses.”
Lastly, Wilson says that President Trump needs to lower the business income tax (for “A target 15%,” he says) as well as make it easier for small business to win government contracts (“A huge step in the right direction which already has bi-partisan support.”)
For more on this topic, please contact Rob Wilson at rwilson@thewilsoncompanies.com.