NFIB Weekly News

Stay up to date with the latest National Federation of Independent Business (NFIB) and other small business news. NFIB, founded in 1943, is known as “the voice of small business” because of their credibility with the government and the media.

NFIB Weekly News

Leading the News

Small Businesses Urge Federal Court to Stop EPA from Reshaping Auto Industry (11/11/2022)

WASHINGTON (Nov. 11, 2022) – The NFIB Small Business Legal Center filed an amicus brief in the case of Texas v. Environmental Protection Agency at the U.S. Court of Appeals for the D.C. Circuit. The case centers on the EPA’s new greenhouse gas (GHG) tailpipe rule for light-duty vehicles.? Click here to read the amicus brief

“This is one more example in a pattern of federal agencies trying to expand their power,” said Elizabeth Milito, executive director of the Small Business Legal Center. “The president couldn’t convince Congress to pass his GHG policy, so he had an executive agency do an end run around Congress and enact a regulation.?That’s not how our Constitution works.”.

The NFIB filed the brief with the Pacific Legal Foundation. The brief makes two arguments. First, it argues that this case and the question before the D.C. Circuit is best viewed as a major questions doctrine case, and that Congress did not give EPA authority in the Clean Air Act to shift the entire nation’s automobile fleet toward electric vehicles. Second, the brief sets forth the disastrous economic impacts the rule, if upheld, would have on America’s small businesses and consumers.

Business Climate

Small Business Owner Explains Impact of ERTC Benefits, Cancellation (11/22/2022)

WASHINGTON, D.C. (Nov. 22, 2022) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released a new video featuring Jerry Akers, a small business owner in Iowa, explaining how his business planned its financial year around the Employee Retention Tax Credit and was negatively impacted by the unexpected cancellation of the credit during the fourth quarter of 2021.

The Employee Retention Tax Credit (ERTC) was created in 2020 to aid small businesses during the COVID-19 pandemic by offering small businesses a tax credit to offset the cost of payroll taxes on employees, thereby enabling small businesses throughout the country to keep their workers employed. Originally, the ERTC was set to expire on January 1, 2022, allowing employers to claim the tax credit for all four quarters of 2021. Unfortunately, on November 15, 2021, the Infrastructure Investment and Jobs Act retroactively moved the ERTC expiration date to October 1, 2021, terminating the fourth quarter tax credit that so many small businesses had been depending on. Read more...

Wages and Benefits

Labor quality as a top business problem remains elevated (11/03/2022)

WASHINGTON, D.C. (Nov. 3, 2022) – According to NFIB’s monthly jobs report, small business owners continue to struggle with labor issues as 23% of owners report labor quality as their top business problem, second to inflation. Ten percent of owners report labor cost as their top business problem, a historically high reading.

“The labor shortage remains a challenging problem for small business owners,” said NFIB Chief Economist Bill Dunkelberg. “Because of staffing shortages, small business owners are less able to take full advantage of current sales opportunities and continue to make business adjustments to compensate.”

Small business owners’ plans to fill open positions remain elevated, with a seasonally adjusted net 20% planning to create new jobs in the next three months, down three points from September but still historically strong.

Sixty-one percent of owners reported hiring or trying to hire in October, down three points from September. Of those hiring or trying to hire, 90% of owners reported few or no qualified applicants for the positions they were trying to fill. For all firms, including those not actively hiring, 30% of owners reported few qualified applicants for their open positions and 25% reported none.

Seasonally adjusted, a net 44% reported raising compensation, down one point from September but just six points below the 48-year record high set in January....