Small businesses are the engines that help drive our economic growth and create jobs for middle class families.
Critical to our economic prosperity, small businesses employ over half of all private sector employees. They have created 64 percent of net new jobs over the past 15 years.
The economic success of our small businesses is crucial. Whether a small retail store on Main Street or a small financial institution that provides credit to working families or an entrepreneur seeking to start their own firm, American small businesses play a vital role in improving our local economies.
Congress must work to create an economic environment that fosters opportunity and growth. There is strong bi-partisan agreement that to achieve economic prosperity, small businesses must be in a position to invest and create jobs. The American entrepreneurial spirit to create original and innovative business models is one of the main reasons why we remain a global economic leader. I am firmly committed to helping enhancing our global economic competitiveness, which starts with helping our small businesses flourish.
Over the past three years, we have worked diligently with the White House in passing common-sense measures that assist small businesses in creating jobs. We’ve provided tax credits that spur research and development, help offer employee health insurance coverage, and enhance small business expensing. We must continue providing small businesses with the credit they need to create jobs in Minnesota and across the country.