A Breakthrough Brief: Thrivability for Small Business
It’s one thing to open a business, it is quite another to scale a company. That is why as Senator, I will be paying extra attention to the conditions and the legislation that affects small businesses and I will look to help create an atmosphere where they can thrive and where government can better serve as a support system rather than an impediment.
America is where people with big ideas come to bring them into fruition and Texas is a land ripe with opportunity, for its current residents and for those moving to the state to pursue a better economy, living situation, and proving ground for their businesses.
As we work to become a producer nation, supporting small business owners, entrepreneurs, and independent contractors will be at the heart of that process. We will widen access to opportunity for Americans who have always had big dreams, but often have been limited by restricted access to financing, capital, business development, and visibility.
While increasing access to lending is important, crippling debt is not a long term solution. During Covid 19, we saw opportunism from large operations cheat small "moms and pops" that make less than $1 million in annual revenue of the immediate assistance they needed. In the future, stimulus packages will prioritize truly fledgling businesses and those simply operating at a smaller capacity.
We'll look to offer greater tax relief for small businesses and contractors as today's tax code disproportionately favors major corporations who can afford to pay their fair share. I would consider the creation of special tax abatements for small businesses who employ 10 people and provide a service unique and beneficial to the community they are in.
For more on my Pro-Business, Pro-Opportunity stances, take a look at our fuller Thrivability vision.