by ALFREDO ORTIZ
It’s a new year, a new decade, and a fresh start. The new year is a welcomed opportunity to take stock of what we have accomplished over the past 12 months, as well as look ahead and plan for 2020.
CELEBRATE A SUCCESSFUL 2019
There’s no doubt the economy flourished in 2019. Individuals of all backgrounds and demographics experienced great economic success. Wage growth was strong, the unemployment rate hit record lows, and job creation continues to drive a tight labor market – a great environment for employees of all skill levels to take advantage of.
2019 also provided good opportunities for small businesses. Thanks to significant deregulation, small-business entrepreneurs have been better able to grow and spur economic growth. According to the Economic Report of the President, the Trump administration took deregulatory actions that saved $23 billion since 2018 – a dramatic increase of $14.9 billion from the year prior.
Now, let’s turn our focus to the coming year.
HEALTH CARE IN 2020
Health care reform is likely to be at the center of policy discussion – especially with the backdrop of the 2020 election. Health care is one area that everyone agrees needs to be addressed. While certain candidates continue to push government-run health care solutions, free market, and choice-based reform also is in the pipeline.
Private organizations and political committees alike are answering the demand for lower health care costs and more personalized plans. The Job Creators Network Foundation has also taken the plunge. We’ve released a health care framework that is focused on strengthening the doctor-patient relationship and driving down costs by injecting more choice and competition into the system. It’s a policy framework we call Healthcare For You.
Lawmakers should be focused on putting the American people back in the driver’s seat of their health care, not filling the void with bureaucrats and red tape.
FOCUS ON TAX CUTS
In the coming year, another policy area that will greatly benefit small business owners are more tax cuts. After the Tax Cuts and Jobs Act of 2017, individuals and businesses across the country benefited greatly and the economy saw tremendous growth.
To summon similar outcomes, the Trump administration is prepared to announce another round of possible tax cuts later on this year. If executed like the last round of cuts, this tax policy would give small business owners another breath of fresh air, allowing them to hire more employees, raise wages, and even grow their business.
Policymakers should also consider extending the Tax Cuts and Jobs Act passed the scheduled expiration date of 2025. Prolonging the tax cuts will allow both businesses and individuals to plan better for the future and encourage further economic growth.
KEEP THE OUTLOOK BRIGHT
While it’s challenging to accurately predict the future, if this year is anything like 2019, we are in great shape. But to ensure even more success in 2020, we must continue to fight for smart, free-market policies that benefit all Americans.
Alfredo Ortiz is the President and CEO of the Job Creators Network.
Hot topics for 2020:
- health care reform
- tax cuts
- continued deregulation for small businesses