CAMBRIDGE, Ohio — U.S. Sen. Jon Husted, R-Ohio, hosted U.S. Small Business Administration Administrator Kelly Loeffler at Bear’s Den Steakhouse here Monday for a roundtable with local business leaders, discussing how a recent federal tax package and other policies are affecting small businesses in southeastern Ohio.
The discussion centered on the Working Families Tax Cuts Act and what Husted’s office described as the administration’s pro-growth agenda, according to a release from Husted’s office.
“Ohio is ranked the number-one state to do business, and our unemployment rate has reached record lows. That success is the result of pro-growth policies we’ve worked for years to put in place. I was honored to welcome Administrator Loeffler to Cambridge to see an Ohio small business firsthand and hear directly from local business owners about what we can do to help them grow, create jobs and keep Ohio one of the best places to live, work and run a business,” Husted said in a statement.
Loeffler, who leads the federal agency responsible for supporting small businesses nationwide, credited the senator for organizing the stop. “I am grateful to Senator Husted for hosting an engaging roundtable with small business owners from Cambridge and the surrounding communities. It’s clear that local job creators are in growth mode — with historic relief from the Working Families Tax Cuts for Main Street businesses and workers. Thanks to Senator Husted’s leadership, the Trump Administration’s tax cuts, deregulation and fair trade agenda is restoring Made in America, starting right here in Ohio,” she said in a statement.
The Cambridge stop is the latest in a string of visits Husted has made to southeastern Ohio communities to meet with industry and business leaders, following a tour of Marietta that similarly highlighted local education and industry.
According to the release, Husted is backing several bills in the Senate aimed at small businesses and manufacturers: the Made in America Manufacturing Financing Act, which would expand access to growth capital for small U.S.-based manufacturers; the Investing in All of America Act, which would expand access to capital for small businesses in rural and low-income communities and in manufacturing and critical technology sectors; the AI for Mainstreet Act, which would provide training and support for small businesses adopting artificial intelligence; and the Repealing Big Brother Overreach Act, which would eliminate a requirement for small businesses to report beneficial ownership information to the U.S. Treasury Department.
Husted’s office also pointed to provisions of the Working Families Tax Cuts Act, which the senator supported, as already benefiting small business owners and their employees. The law makes permanent a 20% small business tax deduction, providing an estimated $4,600 in average tax relief to 8 million entrepreneurs nationwide and supporting the creation of 1.2 million jobs annually over the next decade, according to the release. It also doubles Section 179 expensing limits for investments in machinery, equipment and software, provides an average tax cut of $7,000 for 12 million small business owners, and cuts taxes on tips and overtime, saving eligible workers up to $1,750 annually.
The information contained in this story was obtained from the office of Sen. Jon Husted.
