Election Day 2014: How Your Vote Will Impact Small Business Owners

Monday, November 3, 2014 by Andrea Gellert

For the 2014 midterm elections on Tuesday, November 4, there are a number of key issues that are on the minds of business owners everywhere.

Government Shutdown: It’s rumored that we could have another one before the end of the year.

A united Republican party that controls both houses will want to burnish its credibility with more conservative party members before the next election by encouraging a shutdown. Government shutdowns hugely effect small business owners located in neighboring communities, as well as those with government contracts.

Tax Reform: There is plenty of partisan debate at the moment, but the passage of legislation that would drop the corporate tax rates is a real possibility. Any alterations to taxes would affect employers’ costs, for better or for worse, depending on the size of the company and the owner’s perspective.

Also, with Republicans in charge of the Senate, there may be more motivation for pushing a bill through to the House of Representatives that lowers the corporate tax rate and simplifies the tax code.

Immigration Reform: Although it’s an issue that splits the Republican base, an immigration reform bill passed in the Senate with strong bipartisan support. Most expect that minimal movement will happen, even with a Republican sweep in the elections.

What issues will you be thining about at as you head to the polls? Tell us in the comments below.