Local Economy and Business
Several years after our country was thrust into the worst economic crisis in generation, the outlook in Washington State and many areas throughout the United States is gradually improving. Congress responded to the crisis with multiple initiatives to prevent a much deeper economic disaster, but we are not out of the woods yet. There is still much work to do to create good jobs, lower the employment rate, and create the conditions that encourage Washington State businesses to grow.
Government cannot create the spark of ingenuity for a new product nor the drive to turn a good idea into a flourishing business venture. However, it is critical that government create an environment that encourages new enterprises to be launched and the conditions for businesses of all sizes to succeed.
It is essential that government work to support the education of a world-class workforce for the challenges of today and opportunities of tomorrow, reward innovation, get our deficit under control, and improve our aging infrastructure to meet the needs of the modern economy. We must set the stage for successful entrepreneurship and growth today and in the future.
Congress also has a responsibility to address our fiscal issues in a balanced and effective way that strengthens the fundamentals of our economy. We need to take steps to address our long-term budget challenges while making the smart investments in the future that workers and industry need.
There is a tremendous amount of work to be done to implement sound, forward-thinking policies focused on job creation, growing the economy, supporting businesses, and strengthening the middle class. Policy and business leaders must work together to advance the competitiveness of U.S. products, spur innovation, and provide global leadership now and into the future.
Successful small businesses are the backbone of a healthy economy. In 2016, small businesses made up 98% of Washington State’s employers, accounting for nearly 52% of private-sector jobs in the state. We look to the small business community for innovative technologies and practices, job creation for the new economy, and the advancement of American competitiveness in the 21st century. In tough economic times, it is more important than ever that we provide the assistance that our small businesses need. An effective relationship and dialogue with the federal government is critical to the success and growth of small business. I strongly believe in economic policies that spur small business growth, including sound tax policies and programs that make it easier to wade through the various regulations and paperwork often required to do business with the federal government.
I have met with local businesses throughout the 9th Congressional District in order to stay informed about the needs and concerns of small business. I have hosted regular Small Business Forums, which have focused on small business access to capital, credit and loan guarantee programs, and capacity building in areas such as social media. My office also coordinates Grants and Procurement workshops, through which we have helped to educate hundreds of local business leaders about all of the steps necessary to become competitive for federal contracts, and these events have helped to level the playing field between small business and large corporations.
Throughout my career in Congress, I have supported legislation that encourages small business growth. In March 2012, I supported the Jumpstart Our Business Startups (JOBS) Act, which was signed into law by Former President Obama. The bill included important provisions designed to help small, innovative startup companies get access to the capital they need to succeed. I am also supportive of my colleague Rep. Suzan DelBene’s Women’s Small Business Ownership Act of 2017 which directs the Office of Women's Business Ownership within the Small Business Administration (SBA) to provide annual training geared towards helping women-owned businesses to start, operate, and grow, their small business.
Our region is home to one of the leading innovation based economies in the country and it is critical that small, innovative startup companies have needed flexibility to grow.
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Washington, D.C. - Congressman Smith released the following statement in response to Attorney General Jeff Sessions’s decision to rescind Obama Administration memos, establishing that as long as strict enforcement and regulatory systems and policies remained in place, it would defer action in states like Washington which have legalized adult recreational marijuana use.
“The Republicans’ final tax bill affirmed my opposition to this dangerous proposal. Today’s vote increased the deficit by a staggering $1.5 trillion, which overwhelmingly benefits the rich and corporations at a time when we are running historic deficits and wealth is concentrated at the top. This bill was so partisan and poorly constructed, and the process so lacking, that Senate parliamentary rules required provisions to be dropped at the last minute, which required the House to vote on the bill twice.
“As Republicans in Congress continue to push their reckless tax cuts, they put at risk crucial agencies and programs, such as the Department of Housing and Urban Development (HUD), military pensions, and Medicare. In addition to massively benefiting the wealthy and corporations, as well as reducing revenue by more than a trillion dollars, the tax bill endangers important mandatory spending priorities on which middle class and working Americans rely.
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Washington, D.C. – House Armed Services Committee Ranking Member Adam Smith (D-WA) made the following statement on passage of the Fiscal Year 2018 National Defense Authorization Act Conference Report:
“This week, the House of Representatives voted to approve the Fiscal Year 2018 National Defense Authorization Act Conference Report. This legislation establishes the policies of the Department of Defense that impact our service members, their families, and our local communities.
“Our country’s federal government is already massively in debt and cannot sustain the tax cut President Trump and the Republicans are proposing. It is both bad economic and fiscal policy to be debating a $1.5 trillion tax bill at a time when we are already $20 trillion in debt and running deficits of nearly $700 billion. With deficits already projected to rise for the foreseeable future, this bill will have devastating impacts on our national debt and the priorities that the constituents of my district have made clear they support.
“The Republican tax plan released today is disastrous for American workers and middle class families. Instead of having an honest discussion about our federal budget, House Republicans are attempting to force a partisan bill that will hurt millions of middle class Americans, only to give tax cuts to corporations and the wealthiest among us. This tax plan illustrates how far out of touch the Republicans are with the needs of the American people.
“Today’s budget vote is the height of irresponsibility. The resolution passed today is not a legitimate budget. It is the vehicle for reckless tax cuts that will drive up the deficit and overwhelmingly benefit the wealthiest Americans. Tax cuts for the rich will do little to stimulate our economy or help the middle class. Since 2001, the Bush tax cuts have cost us trillions in lost revenue, and produced virtually no economic growth. Another tax cut now will only further jeopardize our economic and national security.
Washington, D.C. – Today, Congressman Smith introduced H.R.4087, the Protecting Airport Communities from Particle Emissions Act. Recent studies have indicated that ultrafine particles (UFPs) from a variety of sources could have detrimental impacts on human health.
Congressman Adam Smith
Invites you to attend his upcoming Grants Workshop
Wednesday, October 18, 2017
8:30am– 12:00 pm
The Ethiopian Community In Seattle (ECS)
8323 Rainier Ave. S.,
Seattle, WA 98118
Don’t miss this FREE opportunity to learn best practices when applying for federal grants.