(Townhall) Last fall, Townhall reported that an overwhelming majority of small business employers gave Biden a “C” grade or lower when it comes to President Joe Biden’s efforts to help small businesses, according to the Job Creators Network Foundation (JCNF).
At the time, the Small Business IQ recorded at 52.5, on a scale of 0 to 100, was the lowest recorded from respondents since the JCNF launched the poll in May of 2021.
New polling numbers from the Job Creators Network Foundation (JCNF) and shared exclusively with Townhall found that ahead of the 2024 presidential election, the majority of small business owners say that “inflation and the economy” is the biggest factor that will influence the election, at 60 percent. In second place is illegal immigration, namely, securing the southern border, at 14 percent.
JCNF noted that one impending economic issue is the upcoming expiration of the Tax Cuts & Jobs Act—federal legislation initially signed into law in 2017. In the survey, a majority of small businesses say the law helped their businesses. In addition, two-thirds of respondents agreed that it should be extended past the 2025 expiration date.
If the Tax Cuts and Jobs Act is allowed to expire, 41 percent of small businesses would consider delaying and/or reducing expansion, 27 percent of small businesses would consider cutting staff hours and reducing wages, and 22 percent of small businesses would consider laying off workers, according to the survey.
