Bill aimed at crime-fighting would instead punish Iowa’s small businesses
Despite warnings by some of an impending recession, Iowa’s small businesses are still thriving. It’s a fact I’d like to remind members of the U.S. Senate as they consider legislation that would treat hard-working small business owners like criminals. The bill that would subject small businesses owners across Iowa to a new level of over-regulation.
Supposedly, the so-called True Incorporation Transparency for Law Enforcement (TITLE) Act is designed to help fight crime. In reality, however, it throws up a costly and intrusive new obstacles for small business owners, who employ 48% of Iowans and are the most responsible for job growth in the state.
Iowa is a good place to run a small business because of a reasonably low amount of red tape compared with other states. Keeping that red tape to a minimum is crucial. The small business owners who make up our organization, the National Federation of Independent Business, see federal paperwork as a major challenge, and rank unreasonable government regulations second only to high taxes as their biggest problem. Over 80% of NFIB members oppose this kind of over-regulation.