How Do Presidential Candidates’ Agendas Stack Up for Small Business?
Most of the Democrats, especially Clinton, also propose expanded support for women-owned businesses, and most, particularly Edwards, propose a significant increase in support for economic development in rural areas. All support an increase in support for the Small Business Administration, and for expanded emergency relief efforts targeted to small businesses in New Orleans and elsewhere. Clinton also has a number of proposals for revitalizing our nation’s infrastructure.
Among the Republicans, Romney proposes increased government investment in new sources of energy and nanotechnology; Thompson calls for increased support for advanced technologies; and Huckabee calls for a more active government role in helping family farms.
Taxes
Other than the referenced proposals, most of the leading Democratic candidates have largely been silent on the issue of taxes. The notable exception is Edwards who has proposed rolling back the Bush-era tax cuts on those earning over $200,000, while making them permanent for working families. He has also called for raising the capital gains tax rate to 28 percent for wealthy American, retaining the estate tax for estates over $4 million for couples, and closing tax loopholes for hedge funds and private equity fund managers.
On the other hand, the Republican candidates have been vociferous in their vow not raise taxes, with Giuliani and Romney actually calling for a lower marginal tax rate and Romney advocating lowering corporate taxes as well. Like the other Republican candidates, Romney advocates abolishing the estate tax, and for eliminating taxes on interest, dividends and capital gains. Thompson calls for unspecified tax cuts and simplification measures.
Certainly the most radical tax proposal by any of the presidential candidates comes from Huckabee who advocates scrapping the income tax system altogether and replacing it with a national sales tax (on new goods only).
Leading Candidates: A Closer Look
For more information on the candidates’ healthcare proposals, see the Kaiser Family Foundation’s side-by-side summary. Unfortunately, candidates only vaguely address specific small business issues on their individual websites. However, you can learn more about their proposals before you cast your vote in the upcoming primaries.
Democrats:
Republicans:
- Former Mayor Rudy Giuliani
- Former Gov. Mike Huckabee
- Sen. John McCain
- Former Gov. Mitt Romney
- Former Sen. Fred Thompson
John Arensmeyer is Founder and CEO of Small Business Majority, a national small business advocacy organization.
