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Small Business Report: 7/15

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    Looming tax hikes, sluggish economic growth hits small business hard

  • Duration 1:39
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Federal taxpayers face an almost across the board tax hike at the beginning of next year and Democrats and Republicans are divided as they've ever been on how to stop the full increase.

As Republicans continue to argue the wealthiest 2% can't contribute even war.

I urge them talk to three quarters of Americans who disagree.

This is the kind of absurdity you get when you've got a governing party that's more concern won an election.

And in facing up to the consequences of the president's failed.

Economic policies.

-- -- want to -- families earning less than 250000.

Dollars a year from tax increases Republicans say the remaining tax increase will hit small businesses.

-- a top small business association says it has been a difficult summer for its members the National Federation of Independent Business says.

Businesses are hesitant to expand because of -- persistently sluggish economy.

And political uncertainties.

The group says its business owners confidence dropped in -- it's small business optimism index fell significantly by three points.

This is the largest one month drop in two years and bring the index to its lowest level since October.

And while optimism is -- many small business owners say they have been unable to secure loans.

National small business association survey says in the last four years.

Nearly half of small business owners needed -- -- -- couldn't get ones.

-- -- access to financing prevented 53% of companies from expanding forced 32% to shrink their work forces.

And 20% to cut back on employee benefits.

That's it for this edition of the small business report I'm rich Edson Fox Business Network.

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