NFIB Weekly News
Leading the News
Inflation Remains Top Problem for Main Street (07/09/2024)
WASHINGTON, D.C. (July 9, 2024) – The NFIB Small Business Optimism Index reached the highest reading of the year in June at 91.5, a one-point increase from last month. The last time the index was higher was in December of 2023 when it reached 91.9. Even so, this marks the 30th month below the historical average of 98. Inflation is still the top small business issue, with 21% of owners reporting it as their single most important problem in operating their business, down one point from May.
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Supreme Court Protects Ability of Small Business Owners to Challenge Regulations (07/01/2024)
WASHINGTON, D.C. (July 1, 2024) – NFIB supports today’s U.S. Supreme Court decision in Corner Post, Inc. v. Board of Governors of the Federal Reserve System. The case questioned when the six-year statute of limitations to challenge an agency rule under the Administrative Procedure Act (APA) begins.
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U.S. Supreme Court Reins in Unconstitutional SEC Enforcement (06/27/2024)
WASHINGTON, D.C. (June 27, 2024) – NFIB commends today’s decision by the U.S. Supreme Court in the case Securities and Exchange Commission v. George R. Jarkesy, Jr. and Patriot28, L.L.C. The Supreme Court upheld the ruling of the Fifth Circuit that the Securities and Exchange Commission’s (SEC) in-house enforcement proceedings are unconstitutional. NFIB filed an amicus brief in the case with the Chamber of Commerce.
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NFIB Warns Warehouse Worker Protection Act Would Be Harmful to Small Businesses (06/21/2024)
WASHINGTON, D.C. (June 21, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization sent a letter of opposition to the U.S. House of Representatives opposing H.R. 8639, the Warehouse Worker Protection Act. The legislation would lead to increased costs, burdensome mandates, and more red tape on small businesses.
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New NFIB Survey: Industry-Specific Small Business Economic Trends (06/17/2024)
“In general, small business owners are not optimistic about the economy and the future of their business conditions,” said Holly Wade, Executive Director of NFIB’s Research Center. “The survey shows some industries have slightly higher optimism, but all industries remain below the Index’s historical average of 98. There is no doubt that rising prices and hiring challenges continue to hinder almost all small businesses.”
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Brabant explains the main concerns of Main Street owners before the upcoming election (06/12/2024)
WASHINGTON, D.C. (June 12, 2024) – NFIB Vice President of Federal Government Relations Jeff Brabant joined Scripps News Live to discuss the challenges impacting Main Streets nationwide. Brabant shares the legislative issues small business owners want to hear addressed by candidates before upcoming elections, noting the importance of making the 20% Small Business Deduction permanent and the impact regulatory requirements have on the small business economy.
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Business Climate
Supreme Court ruled in favor of small businesses in several key decisions (07/15/2024)
WASHINGTON, D.C. (July 15, 2024) – The U.S. Supreme Court recently wrapped up its 2023-2024 term and will be in recess until October 2024. During this term, the Court heard a number of cases that will have a significant impact on small businesses and the Main Street economy. NFIB filed amicus briefs in 12 of the cases presented. Of those, five were decided in favor of small businesses, including a monumental ruling that overturned Chevron.
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U.S. Supreme Court Reins in Administrative Agencies (06/28/2024)
WASHINGTON, D.C. (June 28, 2024) – NFIB celebrates today’s U.S. Supreme Court ruling in Loper Bright Enterprises v. Gina Raimondo. The Court vacated the decision of the lower court and eliminated Chevron deference, which administrative agencies have long relied on to increase their power and uphold onerous regulatory burdens. NFIB filed an amicus brief in the case with the Buckeye Institute urging the Court to get rid of Chevron deference and ease the regulatory burden.
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Legislation Protects Small Businesses From Burdensome Regulations (06/28/2024)
WASHINGTON, D.C. (June 28, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, sent members of Congress a letter of support for H.R. 358, the Small Business Regulatory Flexibility Improvements Act (SBRFIA). The legislation ensures that federal agencies fully consider the impact of regulations on small businesses. Specifically, H.R. 358 focuses on eliminating the loopholes in the Regulatory Flexibility Act (RFA).
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Supreme Court Decision Harms Small Businesses by Expanding Taxing Power (06/20/2024)
WASHINGTON, D.C. (June 20, 2024) – NFIB is discouraged by today’s U.S. Supreme Court decision in the case Moore v. United States. The Court upheld the Ninth Circuit’s ruling that broadened the scope of “income” to include unrealized appreciation of property, which will result in an increased tax on small businesses. NFIB filed an amicus brief in the case with the Buckeye Institute.
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NFIB President Discusses Top Issues Impacting Small Businesses in Editorial (06/18/2024)
Small business concerns such as inflation and workforce shortages continue to be ignored by Congress because big businesses can absorb higher costs. NFIB President Brad Close wrote an editorial for the Washington Times discussing the top issues impacting small businesses and how Congress can help.
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Supreme Court Affirms that NLRB Does Not Receive Special Treatment (06/13/2024)
WASHINGTON, D.C. (June 13, 2024) – NFIB applauds today’s ruling in Starbucks Corp. v. M. Kathleen McKinney at the U.S. Supreme Court. The Court vacated the judgment of the Sixth Circuit, which approved a watered-down injunction standard for when the National Labor Relations Board (NLRB) seeks to prevent business activity. NFIB filed an amicus brief in the case with the U.S. Chamber of Commerce and the National Association of Manufacturers.
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Wages and Benefits
New Freelance Worker Mandates Go Into Effect in Illinois (07/26/2024)
The Freelance Worker Protection Act went into effect in Illinois on July 1.
The act regulates the relationship between non-construction independent contractors (“freelance workers”) and their contracting entities.
Under the new law, contracting entities must provide freelance workers with written contracts. The written contract must be provided either physically or electronically to the freelance worker.
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NFIB Monthly Jobs Report: Job Openings on Main Street Fall in June (07/04/2024)
Small businesses continue to struggle to find qualified workers. WASHINGTON, D.C. (July 4, 2024) – NFIB’s June jobs report found solid employment hiring plans among small business owners, but overall unsuccessful attempts to hire additional workers. A seasonally adjusted 37% of all small business owners reported job openings they could not fill in their current period, down five points from May.
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NFIB Jobs Report: Small Business Compensation Plans Fall to Lowest Level Since 2021 (06/06/2024)
WASHINGTON, D.C. (June 6, 2024) – According to NFIB’s monthly jobs report, a net 18% (seasonally adjusted) of small business owners plan to raise compensation in the next three months in May, down three points from last month and the lowest reading since March 2021. Seasonally adjusted, a net 37% of owners reported raising compensation, down one point from April but historically very high.
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NFIB Jobs Report: Small Business Job Openings Rise in April (05/02/2024)
WASHINGTON, D.C. (May 2, 2024) – According to NFIB’s monthly jobs report, 40% (seasonally adjusted) of all owners reported jobs openings they could not fill in the current period, up three points from March, which was the lowest reading since January 2021. The percent of small business owners reporting labor cost as their top small business operating problem increased one point from March to 11%, only two points below the highest reading of 13 percent reached in December 2021.
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DOL’s New Overtime Rule Hurts Small Businesses (04/23/2024)
WASHINGTON, D.C. (April 23, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement on behalf of Beth Milito, Executive Director of NFIB’s Small Business Legal Center, regarding the U.S. Department of Labor’s (DOL) overtime rule increasing the minimum salary threshold for exempt employees.
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NFIB Jobs Report: Small Business Job Openings Fall to Pre-Pandemic Levels (04/04/2024)
WASHINGTON, D.C. (April 4, 2024) – NFIB’s monthly jobs report shows a general slowdown in employment activity for small businesses in March, with a seasonally adjusted net 11% planning to create new jobs in the next three months, down one point from February and the lowest level since May 2020.
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