Small business, so vital to our economic system, is free enterprise in its purest sense. It holds forth opportunity to the individual, regardless of race or sex, to fulfill the American dream. Small businesses are the base of our economy and its main source of strength. Some 9.6 million small firms generate 55 percent of our private employment -- or the livelihood of over 100 million Americans. Yet while small businesses have a unique place in our society, they also have unique problems that government must address. Therefore, we recommend that the Small Business Administration (SBA):
For survival, small businesses must have relief from the overwhelming burden placed on them by many regulatory bodies. Paperwork proliferation has grown out of control, and small business is not equipped to deal with this aggravation.
The present tax structure does not allow small firms to generate enough capital to grow and create jobs. Estate taxes need liberalization to benefit the family business in the same manner as the family farm. Encouraging investment in small business through more equitable tax treatment remains the best and least expensive method of creating productive employment.
The Republican Party, recognizing that small and independent business is the backbone of the American competitive system, pledges itself to strengthen this vital institution.
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