Small Business Optimism Still High but Expectations Deflate After Obamacare Miscue
Small Business Optimism Index hovers near record levels, but expectations for future business conditions plunge after Congress fumbles Obamacare Repeal
Washington, D.C. (May 9, 2017) – The NFIB Index of Small Business Optimism posted another historically high reading in April, but expectations for future business conditions plunged by eight points, a sign that business owners were shaken by Congress’ failure at the end of March to repeal and replace Obamacare.
“Small business owners were measurably shaken when Congress failed to address one of their most important concerns,” said NFIB President and CEO Juanita Duggan. “Obamacare has crushed small businesses. Small business owners expected the White House and Congress to address that problem. Their failure to do so caused volatility in the Optimism Index.”
The Index dipped 0.2 points April, settling at 104.5. April was the sixth straight month for historically high optimism, a hot streak not seen since 1983. Five of the Index components posted a gain, reaching levels not seen since before the previous administration. Three of the components declined, and two were unchanged. Nearly all of the slight decline was attributable to an 8-point plunge in expected business conditions. Most of the data were collected immediately after Congress failed to repeal and replace Obamacare.
“Expected business conditions is the most volatile component of the Index,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners want Congress and the White House to address the high cost of health care, which has been their top concern for more than 30 years. When that effort failed in March, expectations for better business conditions collapsed.”
The House narrowly passed a bill last week to repeal most of Obamacare. Whether expectations for better business conditions will recover in the May Optimism Index remains to be seen.
“Congress and the White House must understand that small business owners are paying close attention, and they are making decisions that affect the economy based on how Washington performs,” said Duggan. “The drop in expected business conditions should be a warning to Washington that health care reform, regulatory reform, and tax reform have implications far bigger than politics.”
Duggan noted that taxes jumped to the top of the list of concerns among small business owners in the April survey, with 21 percent listing it as their single most important problem.
“That should be a clear indication for Congress and the White House to finish health care reform and move quickly to tax reform,” she said. “The current tax code strongly favors large corporations over small businesses. Five of the top 10 concerns among small business owners are related to taxes. The tax system is a major burden for small businesses and an impediment to economic growth. Fixing that system must be an urgent priority for Congress and the White House.”
To view the entire NFIB Index of Small Business Optimism, please visit www.nfib.com/sboi. To learn more about NFIB, please visit www.nfib.com.
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Tour of Utah Distributes Bicycle-Inspired
Youth Activity Booklets to Elementary Schools in May
Utah Pro Cyclist T.J. Eisenhart is Featured with Content Teaching
Health and Wellness Tips to School Children
SALT LAKE CITY (May 10, 2017) – Professional cyclists have joined forces with popular cartoon characters to promote healthy lifestyles for young fans of the Larry H. Miller Tour of Utah. The Sprint to the Finish Activity Booklet is a collaborative effort by organizers of the Tour of Utah and University of Utah Health, with a storyline using Mike and his friend Lucille from the popular Mike and The Bike children’s book series. Each of the 10 local organizing committees for the professional cycling stage race on July 31-Aug. 6 will receive a portion of the 45,000 copies to distribute to elementary schools in May, recognized as National Bike Month across the United States.
The Sprint to the Finish Activity Booklet incorporates illustrations of the two young cyclists, Mike and his friend Lucille, with photography from the Tour of Utah professional cycling stage race. The 32-page, full-color activity booklet follows the two characters on a trip across Utah, as they visit the communities that will host the seven days of racing for the Tour of Utah. Along the way, children are provided lesson plans and puzzles to teach about geography, nutrition, safety, and vocabulary.
One of three professional cyclists to contribute content about exercise and good nutrition is Lehi, Utah-native T.J. Eisenhart. He races for the Holowesko l Citadel presented by Hincapie Sportswear team and finished seventh overall at last year’s Tour of Utah. The other two athletes are Adrien Costa (Bend, Ore.) of the Axeon Hagens Berman team, who won the King of the Mountain and Best Young Rider designations at the 2016 Tour of Utah, and Travis McCabe (Prescott, Ariz.) of the UnitedHealthcare Pro Cycling Team, who won Stage 4 of the Tour of Utah.
During race week of the Tour of Utah, children can demonstrate their pedal power and safe cycling skills in the Sprint to the Finish youth bicycle races. Complimentary registration is available at the University of Utah Health information tent in the Harmons Healthy Living Expo. Races will be held on a section of the course used by the Tour of Utah pros, and is open for children from ages five to 12 (bring your own bike and helmet). Details about expo locations, start/finish areas and race times will be available on the Tour of Utah website later this summer.
Sprint to the Finish Locations
The Sprint to the Finish Activity Booklets are suitable for elementary-aged children. An online booklet in PDF format is available for download at tourofutah.com.
The Larry H. Miller Tour of Utah continues to be free to all spectators, making professional cycling one of the most unique professional sports in the world today. The Tour of Utah attracted more than 400,000 spectators and contributed a new high of $23 million in direct economic impact for Utah last year. The Tour of Utah also continued its strong media reach with 28-plus hours of national television coverage on FOX Sports Network as well as more than 35 hours of live start-to-finish web casting via Tour Tracker, which attracted viewers from 142 countries.
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About the Larry H. Miller Tour of Utah
The Larry H. Miller Tour of Utah, referred to as "America's Toughest Stage RaceTM," is a week-long, professional cycling stage race for the best men’s teams in the world. The 2017 event will be held July 31-Aug. 6. Now in its 13th year, the event was elevated in 2015 as a 2.HC-rated UCI stage race, making it one of the premier events in North America. The 2016 Tour of Utah covered 705 miles of racing and 52,825 feet of climbing with Lachlan Morton of Jelly Belly presented by MAXXIS Cycling Team winning the overall title. The Tour of Utah is owned by Larry H. Miller Sports & Entertainment. More information about the Tour of Utah, host venues and professional teams can be found by visiting www.tourofutah.com, as well as social channels Facebook (tourofutah), Twitter (tourofutah), Instagram (thetourofutah) and YouTube (tourofutah
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