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Following President Trump’s State of the Union address, Rep. Nydia M. Velázquez (D-NY), the top Democrat on the House Small Business Committee, released the following statement:

             “President Trump had a chance tonight to reach across the aisle, but instead opted for partisan rhetoric and empty promises. By failing to offer meaningful solutions to issues like immigration and infrastructure reform, the President yet again turned his back on America’s millions of small businesses. 

            “Let’s be clear, in 2009, facing the worst economic risk since the Great Depression, President Obama put into place necessary measures not only to prevent economic catastrophe but, ultimately, to place our nation on a path of growth. In his speech tonight, President Trump boasted about job creation.  However, under his presidency in 2017, 2.06 million jobs were created.  That’s lower than the 2.24 million jobs created in 2016 and in each of the previous six years, during the Obama Presidency.  Our economy and the small business sector continue to benefit from policy decisions made under President Obama and the small business confidence numbers cited in the President’s speech reflect that economic inertia.  

            “In other areas, the President’s proposals tonight directly threaten our small business sector. Immigration and entrepreneurship have long stood as twin pillars fundamental to American prosperity. Immigrants start businesses at rates double that of the broader population and, by demonizing immigrants, the President threatens to undermine what has long been a key ingredient to our economic success.

           “The President also missed a meaningful opportunity in the area of infrastructure investment.  For small firms operating in construction, manufacturing, engineering, architecture and countless other fields, infrastructure investment could mean a wave of new opportunities. Unfortunately, President Trump’s speech at best paid lip service to achieving such a goal. Tonight, President Trump promised a $1.5 trillion infrastructure plan, however his actual plan only allocates $200 billion in federal funding. This unworkable shell game would require states and local governments to make up the shortfall. Instead of pursuing a bold vision for infrastructure investment, the President has whittled the federal budget with tax cuts and, now, pays only lip service to the kind of meaningful infrastructure investment that would truly benefit our nation. 

         “One thing is clear—America’s small businesses deserve a better deal. As lawmakers, it is our duty to cross party lines and develop lasting policies that ensure entrepreneurship remains the bedrock of the American dream.  There was little substantive in tonight’s speech to suggest the President is ready to give our entrepreneurs the support they need to succeed.”

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