President Bush Addresses America's Small Business Summit

by Brad Peck

//Update: video and photos now available.

President Bush entered to a huge standing ovation this morning at America's Small Business Summit.  After being welcomed to the Summit by Chamber President and CEO Tom Donohue, the crowd rose again as the President took the podium. It was a minute before he could begin to speak as the collected small business owners did not seem to want to stop their applause.

The President thanked everyone for venturing to Washington, and said that they were especially brave given that it was tax week.  He noted that it was perhaps fortuitous that The Holy Father was also in town during tax week because it takes a miracle to keep the IRS out of American's pockets.

Appearing relaxed the President praised the "dreamers and doers" in the room and said that he truly believes that small business is what makes America great. He acknowledged that the economy has slowed, but reflected that we have had a pretty good run; 52 months of uninterrupted job growth, a record.  He said that this slow down was not unforeseen and praised Congress for working with the Administration on a pro-growth stimulus package. The President felt that the stimulus package shows that it is possible for Democrats and Republicans to set aside political angles and actually do something for the American people.

Secretary Paulson told the President that the stimulus checks should begin arriving the second week of May and that a family of four could expect up to $1,800 dollars of relief. He lamented that some in Washington are dismissing that amount as insignificant, but for folks outside the Beltway who are worrying about meeting bills or saving for their kids' education it's a lot of money.

The President moved on to the investment tax incentives portion of the stimulus package.  As an example of a small business using accelerated depreciation he mentioned meeting Darlene Miller of Permac Industries last week at the White House and the investments she was already able to make thanks to the incentives.  He then gave warm congratulations to Darlene, and Permac, for winning this year's Small Business Of The Year Award.  The President also spoke of meeting Tom Sawner and the immediate actions Tom's company Educational Options was able to take thanks to the stimulus.

The President expressed his gratitude to Darlene and Tom and to all of the small businesses in the audience for their contributions to the economy.  According to his economic experts growth will pick up again starting in the 3rd quarter.  The President said that we are going to rebound and come back strong; with small business leading the way.

President Bush moved on to business policy, with tax talk up first.  He said that he truly believed in the philosophy that you can spend your money better than the government can.  Given the volume of the applause, I believe most in the audience subscribe to the same philosophy.

The President was worried that many Americans don't remember life before tax relief, but if allowed to expire at the end of 2010, they would receive a harsh reminder. He said that small businesses would carry a disproportionate amount of the tax burden; with an average estimated tax increase of $4,000 dollars per year.  If Congress wants to help the economy recover, they will end the uncertainty about taxes and make tax relief permanent. 

Switching to trade President Bush reported that last year exports accounted for 40% of growth and that Congress has the chance to expand export opportunities to Colombia, Panama and Korea; three key democratic allies.

The President was very serious about Colombia. He felt that the House's action to change the rules in the middle of the game was inexcusable.  President Bush said that leaders of Congress have made a serious error both from an economic and a security standpoint. A watching hemisphere looks to see how America treats its friends.

The President ran off the numbers on Colombia.  Almost all imports from Colombia enter our country duty-free, but 9,000 U.S. companies, 8,000 of which are small businesses, pay heavy tariffs when selling to Colombia.  Our trade motto should be "Just treat us like we treat you" in order to ensure a level playing field for American workers.

President Bush said that Colombian President Uribe has taken historic efforts to protect trade unionists, and their death rate is now lower than that of the general population.  The President then encouraged Congress to take action on the trade deal and noted that it is not too late.  He also said that he strongly supports Trade Adjustment Assistance to help workers in transition.

The President called for Small Business Health Plans to be implemented so that all businesses can get the same benefits of larger enterprises.  He was very vocal on No Child Left Behind; and said that smart small businesses measure and adjust everyday; that is why they are successful.  We need the same approach to education.

The last policy issue discussed was forced-unionizing "card check".  President Bush explained that "card check" would strip American workers of a fundamental right to vote in secret, free of interference and intimidation.  The President said that if such a bill were ever to cross his desk – and he leaned forward here for strong emphasis – "I WILL VETO IT!" 

Regarding the role of government, The President stated:

"Government cannot create entrepreneurs; its role should be to create an environment for entrepreneurship."

The President said that it takes a lot to start and run a company; ingenuity and desire, a willingness to dream, and a willingness to work.  He said he felt that spirit in the room (something we at the Chamber call The Spirit of Enterprise).  President Bush then closed with:

"We are a hopeful and vibrant nation because we are a nation of hopeful, vibrant people."