{"id":175309,"date":"2024-04-10T22:38:29","date_gmt":"2024-04-11T05:38:29","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=175309"},"modified":"2024-04-10T22:38:29","modified_gmt":"2024-04-11T05:38:29","slug":"the-latest-small-business-optimism-index-doesnt-bode-well-for-california","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=175309","title":{"rendered":"The Latest Small Business Optimism Index Doesn’t Bode Well for California"},"content":{"rendered":"

Sacramento, CA…Two surveys released today don\u2019t paint a pretty picture nationally or in California for the small-business economy.\u00a0 As it does the second Tuesday of every month, the National Federation of Independent Business (NFIB) releases its latest Small Business Economic Trends (SBET) report (also known as the Optimism Index) on the state of the small business economy nationwide. Also, as it does around this time, the American Legislative Exchange Council (ALEC) releases its annual\u00a0Rich States, Poor States<\/em>\u00a0report.<\/p>\n

\"\"<\/a><\/p>\n

Today\u2019s\u00a0Optimism Index<\/a>\u00a0showed it below its 50-year average for the 27th consecutive month. Today\u2019s\u00a0Rich States, Poor States<\/a><\/em>\u00a0report showed California\u00a047th among states<\/a>\u00a0for economic outlook.<\/p>\n

\u201cCalifornia\u2019s consistently low ranking in the\u00a0Rich States, Poor States<\/em>\u00a0report and others like it and the continued bad mood\u00a0small businesses are in as expressed through our Optimism Index surveys stopped surprising years ago and are now the new normal, and that\u2019s what\u2019s sad,\u201d said John Kabateck, California state director for NFIB. \u201cLet me offer a couple of shots of Geritol for policymakers to consider, if they really want to make things better for the people who gave most of us our first job in life: 1. Congress needs to stop dithering and pass the Main Street Tax Certainty Act \u2013 now! — to keep the\u00a020% Small Business Deduction<\/a>\u00a0in the federal tax code from expiring next year, a deduction that so many small business owners\u00a0have come to rely on. 2. The California Legislature could do many things, but nothing bolder than\u00a0rejecting\u00a0Assembly Bill 2200<\/a>\u00a0when it comes up for its first hearing April 23. But don\u2019t hold your breath waiting for that to happen. After all what\u2019s $500 billion a year for a universal health-care plan when you\u2019re running a $73 billion state budget deficit.\u201d<\/p>\n

From NFIB Chief Economist Bill Dunkelberg on Today SBET Survey\u00a0<\/strong><\/p>\n

\u201cSmall business optimism has reached the lowest level since 2012 as owners continue to manage numerous economic headwinds. Inflation has once again been reported as the top business problem on Main Street and the labor market has only eased slightly.\u201d<\/p>\n

Highlights from Today\u2019s Optimism Index Report\u00a0<\/strong><\/p>\n