Arizona Small Business Owners Prioritize Economic Relief in Election

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 65 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 46%
  • Publisher: 53%

Politics News

Arizona,Small Business,Economy

Small business owners in Arizona are focusing on economic relief as a key factor in their voting decisions this year. Rising costs, potential tax increases, and labor shortages are impacting businesses across the state.

Some Arizona small business owners are saying economic relief will be a big part of their vote this year, and it could make or break votes in one of the key battleground states. Small businesses play a major role in Arizona's economy, employing more than 40% of people in the state, according to the Small Business Administration.

Not only are small businesses facing a significant tax increase if Congress lets this expire. But Arizona's economic growth really hinges on Congress acting and making the 20 percent small business deduction permanent," Heinrich said. More than 500 business groups across the United States are calling on congress and the next administration to keep former president Trump's tax cuts in place.

Both candidates, Trump and Harris have said they plan to cut taxes even beyond that previous legislation. Economists say another reason some small business owners are falling behind is because Tucson's labor market is tight. The overall economy in Arizona is doing well, but there is room for improvement in the labor market, according to George Hammond, an economist at the University of Arizona.

That means that workers have lots of job opportunities out there and employers are really struggling to hire and retain the workers that they need," Hammond said. Some Arizona small business owners say it is more difficult now than ever before to be able to afford to hire more workers. The owner of Tucson Mineral and Gem World in Tucson, Arizona said his shop has been open for around 60 years and his bills have never been this high. "It hurts, it hurts.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Small business owners respond to Kamala Harris's tax relief planMaria Staubs joined KGUN 9 as a multimedia journalist and producer in July of 2024.
Source: kgun9 - 🏆 584. / 51 Read more »

Some small business owners concerned about new Starbucks opening in Little Village this monthSome community members do not want major companies to hurt the area's family culture.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Small Talk: Small Business Mix & MingleJoin Frost and its community partners at Roadmap Brewing Co. on Thursday, Aug. 29 for an evening of networking and Small Talk! The mix & mingle will include small business leaders from across the San Antonio community and team members from several small business resource organizations, including UTSA SBDC, LiftFund, SageSA, Maestro and more.
Source: SAcurrent - 🏆 607. / 51 Read more »

Business development program is free for diverse business ownersIf you're a diverse business owner looking to enhance your skills, this program might just be the perfect fit for you. Here's what you need to know about the free, seven-week Diverse-Owned Business Accelerator program.
Source: KSLcom - 🏆 549. / 51 Read more »