Congressman Adam Smith

Representing the 9th District of Washington

Local Economy and Business

Economy

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.

Small Business

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 the President.  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 2015 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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More on Local Economy and Business

Aug 3, 2017 Press Release

“The United States has a proud history built on our founding as a nation of immigrants. Our existing immigration system is in dire need of reform, but the deeply prejudicial RAISE Act the President has endorsed is not the solution. This detestable proposal would slash our legal immigration program in half and keep families apart through dramatically altering our current family-based immigration system to a so-called merit-based program. The bill would also deny asylum to tens of thousands of refugees fleeing dangerous conditions and persecution.

Jul 28, 2017 Press Release

“We need to provide for more environmentally responsible and economically sound management of our public lands,” said Congressman Adam Smith. “As we look for sustainable solutions to our fiscal challenges, the Rural Economic Vitalization Act provides a mechanism to restore our public lands while providing economic opportunities. This legislation will benefit the American taxpayer while simultaneously protecting our environment.”

Jul 27, 2017 Press Release

“The “Security Minibus” appropriations bill the House is currently debating is completely disconnected from the realities that our country faces and the spending choices we must make. This spending package includes funding for the Department of Defense, Department of Veterans Affairs, Legislative Branch, Department of Energy, the Army Corps of Engineers, agencies of the Department of Interior, and several independent agencies.

Jul 18, 2017 Press Release

Congressman Adam Smith will be a special guest at an event for small and diverse businesses this Friday, July 21st. Here in the Puget Sound region, small and diverse businesses are pillars of our local economy, and play critical roles in our continued economic growth and vitality.

Small Business Industry Day Information:

When: Friday, July 21, 2017, 8:30 am to 12:00 pm. Congressman Smith will speak from 9:00 – 9:30 am.      

Where: Renton Pavilion, 233 Burnett Ave S. Renton, WA 98057

Jul 14, 2017 Press Release

“An enormous amount of good bipartisan work has gone into the writing of this bill, and I am supporting it. Make no mistake about it: We face a complex threat environment. North Korea is testing intercontinental ballistic missiles, Russia continues to undermine not just our elections, but democracy itself across the globe, and we face a terrorist threat. These are dangers that we must be prepared to confront.

Jun 1, 2017 Press Release

“President Trump’s withdrawal from the Paris Climate Agreement is a disastrous move that undermines the most significant global climate change agreement to date. Either the President does not understand or simply does not care about the devastating impact global climate change will bring about.  

May 23, 2017 Press Release

“Instead of proposing a budget that makes available the tools Americans and this country need to succeed, the Trump Administration has proposed a disastrous and ideologically-driven budget that demonstrates this President’s complete lack of interest in or understanding of the realities of governing. The President has doubled down on his earlier campaign promises, and makes clear he wants to limit the government’s ability to improve the lives of working Americans and diminish our country’s role in the world. 

May 17, 2017 Press Release

“This month’s tunnel breach at the Hanford Nuclear Site underscores the importance of policies that prioritize worker health and safety. While the complete collapse of the tunnel was averted, I remain concerned. The Department of Energy (DOE) is relying more on luck than on certainty that all measures have been taken to avoid a potential incident that could release radiation and contamination. Such an incident would cause unacceptable harm, endanger lives and require long-term evacuations of the area and huge remediation costs.

May 4, 2017 Press Release

“House Republicans voted today to eliminate essential health benefits and protections for Americans.  No one—especially not those Republicans who voted to pass it—bothered to consider the costs or the actual impacts of the American Health Care Act (AHCA) on working Americans, those with pre-existing conditions, and people who rely on Medicare and Medicaid. The Affordable Care Act (ACA) was by no means a cure to all of our healthcare challenges, but today’s bill ignores any opportunity for meaningful changes, and instead represents a dangerous leap backwards.

Apr 27, 2017 Press Release

“Our current tax code is overly-complex; there is no question it needs reexamination and overhaul. The tax proposal released today by President Trump would be disastrous.  Its almost singular focus on cutting taxes for wealthy people and companies will harm working people and undermine a healthy economy.

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