Larry Hogan;
Statement on the
Economy.

"Small businesses are the backbone of America’s economy, creating tens of millions of jobs. However, too often, they don’t have a voice in Washington. Politicians in both parties are not looking out for the hard-working small businesses that make our economy run.

Larry Hogan is not a career politician. He is a lifelong small business owner who decided to run for governor in 2014 because he was fed up with the overburdensome regulations and 43 consecutive tax hikes that crushed Maryland’s economy. Once in office, Governor Hogan kept his promise to champion small businesses. He eliminated thousands of job-killing regulations and cut taxes for eight years in a row by $4.7 billion, including tax cuts for small businesses. He successfully turned Maryland’s economy from 49th out of 50 states to number six – the greatest economic turnaround in America. After eight years in office, Maryland ranked 3rd in the nation for the number of small businesses as a percentage of total companies.

With unaffordable inflation and overburdensome regulations, our small businesses are getting squeezed across the country. In just the last three years, the federal government has added $1.5 trillion in regulatory costs onto the backs of small businesses.

In the Senate, Larry Hogan will be a champion for our small businesses to get our economy moving:

REDUCE TAXES AND PROVIDE STABILITY FOR SMALL BUSINESSES
With unaffordable inflation and overburdensome regulations, our small businesses are getting squeezed across the country. In just the last three years, the federal government has added $1.5 trillion in regulatory costs onto the backs of small businesses.

In the Senate, Governor Hogan will fight to reduce the tax burden on small businesses. In 2025, over 30 million small business owners will face a massive tax hike if Congress does not act. Governor Hogan will fight to make the Small Business Deduction permanent to give them the stability they need to grow our economy and create jobs.

CUT EXCESSIVE RED TAPE
Small businesses are the backbone of America’s economy, creating tens of millions of jobs. As Governor, Larry Hogan eliminated thousands of regulations and fees that hurt small businesses and job growth. In the Senate, he will continue to be a champion for regulatory reform and reign in regulatory overreach from federal agencies targeting small businesses.

MAKE IT EASIER FOR SMALL BUSINESSES TO SUPPORT WORKERS
The unaffordable cost of healthcare is making it nearly impossible for countless small businesses to provide critical benefits for their employees. As Governor, Larry Hogan was able to work across the aisle to lower healthcare costs for small businesses. As a Senator, he will once again work across the aisle to do the same by expanding health insurance coverage options for small businesses and providing greater flexibility to support their employees.