Small businesses are the backbone of our communities, and in Iowa they make up over 99 percent of all our employers.
As a senior Republican on the Senate Small Business Committee, I have been working to create pro-growth policies and a regulatory system that encourages innovation and keeps the needs of our small businesses top of mind.
I remain committed to getting Washington out of the way and will continue to work on smart reforms to streamline our regulatory system so our businesses have the certainty, confidence, and flexibility they need to invest and expand. I worked to roll back costly rules and regulations that hamstrung Iowa businesses and manufacturers—like the onerous Obama-era Waters of the United States (WOTUS) rule. I’ve also put forward the Prove It Act which would increase transparency within the federal rulemaking process, especially when there is a disagreement between agencies over the economic impact of a rule on our small businesses.
In 2017, President Trump signed the Tax Cuts and Jobs Act into law, which I helped advance through the Senate. This tax reform, on average, provided every income group with tax relief. Under this law, middle and low-income Iowans saw lower tax rates, the costly individual mandate was eliminated, and folks were able to keep more of their hard-earned dollars. The larger package included two of my provisions: the SQUEAL Act, which eliminates an unnecessary tax break for lawmakers, and the bipartisan Investing in Opportunity Act, which helps spur economic growth in poverty-stricken areas.
I will continue working to rein in over-burdensome federal regulations, lower taxes, and support our small businesses and families across Iowa.
February 02, 2023