On The Issues: Small Business

Warren knows small businesses are the backbone of both the American workforce and the middle class. As Congressman, he will work to ensure our small businesses have access to capital and prime government contracts, make the tax code fair and stable, and ensure the playing field is level. Warren will work hard to remove barriers to market entry and make it easier for entrepreneurs to innovate. As a former small business owner, Warren understands the needs of small businesses, and will be sensitive to the difficulties associated with the implementation of federal programs. As a Member of Congress, he will always advocate on their behalf in the House of Representatives.

Leveling the Playing Field

Eliminate Unfair Loopholes: In order for our small businesses
to better compete, we have to eliminate unfair tax loopholes. These tax breaks create winners and losers because they favor some, while making it more difficult for our small businesses to compete in the global marketplace.

Tax Fairness and Stability: We must implement targeted tax relief to help our small businesses compete. While it is true, when it comes to our largest corporations, we do not want to use the tax code to give away the proverbial store, it is also true that some corporations are paying an effective tax rate less than many of our small businesses. Warren will work to ensure the gap is narrowed and our small businesses are not overburdened by the tax code.

Tax Relief and the Minimum Wage: Warren will tie the actions associated with changing the tax code to a raise in the minimum wage. This is important because when we increase the minimum wage to a livable wage, and reduce the tax burden on small businesses, we will give small businesses more money in their pockets, while increasing the purchasing power of our residents so they can buy more goods and services.

These actions are important because they will also reduce the likelihood small businesses will have to increase costs to the consumer or eliminate jobs to cover the cost of the increase in the minimum wage.

Access and Opportunity:

Prime Government Contracts: As a former Chief of Staff at the Department of the Interior’s Business Enterprise Center, Warren knows how the federal government works. This knowledge is vitally important to ensuring our businesses gain access to government contracts. Warren and his staff will work to ensure federal dollars are returned to this district in the form of government contracts and public-private partnerships.

Access to Capital: We must make it easier for our businesses to access the capital necessary to be successful. This has not always been the case. As an example, a Wall Street Journal article explained African Americans have been missed by the rebound in Small Business Administration (SBA) Loans [40] since the Great Recession. Although some progress has been made, Warren will fight to increase access to low interest loans for Small Business owners across the District in both Anne Arundel and Prince George’s Counties.

Advisory Council: Warren will also work to establish a Small Business Competition Advisory Council to support businesses in the 4th Congressional District. Recommendations from this group will shed light on how to best invest in our small business.

Mentorship: Warren supports a Legacy Business Mentoring Program to ensure that businesses will be successful and sustainable in the global economy. As your Congressional Representative, Warren will serve as a leader–ensuring minority representation goals are met.