House Small Business Development Committee
Chairman Mike Cheokas (R-Americus) and his Committee and adopted its Committee Rules. This Committee will operate with four subcommittees: 1) Barriers to Regulation (chair is Representative Tim Barton (R-Calhoun)); 2) Retail Hospitality (chair is Representative Bill Yearta (R-Sylvester)); 3) Incentives and Education (chair is Representative Dale Washburn (R-Macon)); and 4) Agribusiness (chair is Representative Steven Meeks (R-Screven)).
The Committee heard presentations from NFIB, Nathan Humphrey, which indicated that the small business climate in Georgia was overall good — Georgia has AAA bonds; low tax rate; it is a “right to work” state; has a solvent unemployment trust fund; has a workers’ compensation fund; and is a diversified economy. NFIB’s Humphrey pointed out the COVID-19 response and allowing businesses to open; the passage of HB 486; passage of covid liability protection law, SB 359; and the $1.5 billion for unemployment trust fund from CARES Act (equating to $350 per employee). Concerns articulated by NFIB included mandates; legal climate; unemployment trust fund; future lockdowns; and available PPE. The group also asked that the legislature look at PPP loan deductibility and marry Georgia’s tax code to the Internal Revenue Code (expense side); extend COVID liability protections to beyond July 1, 2021; and protect rights of small businesses to remain open. NFIB also pointed out that the legal climate had a direct impact on Georgia’s trucking industry — many are seeing 300 percent increases in insurance costs - and due to school closures (as businesses depend on schools being open). Three small businesses provided some personal stories at today’s meeting. One indicated that they are challenged with access to capital and do not have a reserve or access to banking. Costs and access to healthcare also remain an issue. Another business points out liability protections remain as well as minimum wage compression should an increase in the minimum wage occur. Another business pointed out the need for tort reform.