This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

NSBA Reaction To State Of The Union Address

WASHINGTON, Feb. 12, 2013 /PRNewswire-USNewswire/ -- The National Small Business Association (NSBA) was pleased to hear President Barack Obama talk about the need for comprehensive tax reform tonight during his State of the Union address as a way to bring down the deficit as well as ease tax complexity for small business—a key priority for small business.

Perhaps the most important message President Obama delivered was his call for lawmakers to work together and set aside party interests to pass a budget. Given the negative impact of Congress' failure to move forward on meaningful deficit reduction—both on small business confidence and U.S. economic stability—leaders on both ends of Pennsylvania Avenue must put aside partisan politics and get back to the business of governing.

"The number one issue facing America's small business is economic insecurity, making the deficit the number one thing they want policymakers to address," stated Todd McCracken, NSBA president and CEO. "While much of his agenda tonight emphasized economic growth, he missed an opportunity to lay out a clear path forward to fiscal sustainability."

Obama outlined the major flaws with the blunt spending cuts known as sequestration, something that could be devastating to small federal contractors. While NSBA believes firmly in the need to reduce spending and was pleased that Obama put entitlement reform on the table, sequestration is the wrong way to go and will result in small business contracts being bundled or eliminated altogether.

Addressing immigration, Obama outlined the need for comprehensive reform and highlighted the need to attract highly-skilled entrepreneurs and engineers—something NSBA supports. He stopped short, however, of urging lawmakers to tread carefully when it comes to proposals to mandate E-Verify or a similar program which could mean unfair burdens and penalties for small business.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs