Mitt Romney Stifled Start-Up Creation and Growth by Gutting Critical Investments in Massachusetts; He Would Do the Same If Elected President
As governor, Romney stifled start-up creation in Massachusetts. He claimed his business experience would help Massachusetts small businesses, but he failed to create an economic environment that would attract entrepreneurs and encourage small business owners to grow and hire. Instead small business activity slowed dramatically.
- Higher Taxes and Fees: Romney hiked taxes and raised or created more than 1,000 fees on consumers and small businesses, including electricians, plumbers, dentists, pharmacists, real estate brokers and even barbers and hairdressers.
- Gutting Critical Investments: Romney slashed more than $100 million of critical investments in economic development, including job training, high-tech manufacturing and education in science, technology, engineering and math.
- Start-Ups Fell: Under Romney, business starts fell by 10 percent, hitting their lowest point in his last year in office. Each year Romney was in office, start-up growth in Massachusetts lagged behind the national average.
- Going Out of Business: When Romney took office, more entrepreneurs were starting small businesses than shutting them down. When he left, the opposite was true – the number of small businesses shrank during his term.
If elected President, Romney would stifle America’s small businesses. He’s making the same claim he made in Massachusetts, but his policies would do the same thing – stifle small businesses instead of helping them grow and create new jobs.
- Tax Cuts Skewed to Big Businesses, Not Small Ones: Small businesses are the backbone of our communities, creating two out of three net new jobs a year. Lower taxes help them grow and create those jobs. But 90 percent of Romney’s trillion-dollar corporate tax cuts would go to the largest 0.6 percent of corporations.
- Fewer Small Business Loans: Romney endorsed a budget that could gut the Small Business Administration by nearly 20 percent, making it harder for small businesses to get loans that can be critical to helping them grow and create jobs.
- Gutting Critical Investments: Romney would gut investments critical to small businesses, like education, training, innovation, manufacturing and infrastructure, so he can cut taxes for millionaires and corporations that ship jobs overseas.