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THE SMALL BUSINESS RESPONSE TO PRESIDENT CLINTON'S 1993 STATE OF THE UNION MESSAGE

 WASHINGTON, Feb. 17 /PRNewswire/ -- The following is a statement by S. Jackson Faris, president and CEO of the National Federation of Independent Business:
 It appears that the economic package unveiled by President Bill Clinton tonight, if enacted, will serve to do more harm than good to the nation's small businesses. The President's rhetoric does not seem to match his plan. It contains a number of taxes, paperwork and regulatory burdens which could serve to increase the overall budget deficit and stifle the economic revival which is now just emerging.
 Since the small-business sector is today creating all net new jobs in the American economy, it should be encouraged to grow and expand, thus generating even more jobs. Instead, the President's plan appears to favor the very sectors which do little for employment: big business and big government.
 Small-business owners, like most Americans, are willing to share the burden to restore the nation's economy. But they will respond to higher taxes, more red tape and greater government intervention by shrinking their workforces, reducing their productivity and earning less profit.
 The proposal places a much heavier tax burden on small, unincorporated firms and the tax incentives included in it are far outweighed by tax rate increases and energy taxes. Further, new taxes will take money out of the hands of consumers who are the customers of small businesses.
 The small-business economy, according to NFIB's most recent quarterly economic report, is showing signs of revitalization. This economic proposal, as outlined, could kill that recovery.
 Tomorrow, I will go to the White House to seek more details of the President's package and share the concerns of American small firms.
 -0- 2/17/93
 /CONTACT: Angela Jones or Terry Hill both of the National Federation of Independent Business, 202-554-9000/


CO: National Federation of Independent Business ST: District of Columbia IN: SU:

LD -- NY124 -- 7626 02/17/93 23:51 EST
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Publication:PR Newswire
Date:Feb 17, 1993
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