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Small business owners waiting to see what Obama will do - abc27 WHTM

Small business owners waiting to see what Obama will do

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HARRISBURG, Pa. (WHTM) -

Many small business owners in the midstate and around the country are waiting to see if President Barack Obama will reach out to work with them.

Kevin Shivers of the National Federation of Independent Business said there are over 4,000 proposed regulations that were set aside by the Obama Administration until after the election. He said those regulations could cost $105 billion and affect about a million jobs.

Shivers also points to how Obamacare will affect businesses and to possible higher taxes at the end of the year. That's been referred to as the fiscal cliff. What happens if those tax rates go up?

"It would spell catastrophe for the small business community if those tax rates were to rise," said Shivers.

Shivers contends that small employers are going to be a significant factor in improving the economy and that the President needs to recognize that. He said employers need to get some indications of predictability and stability and they need to get them soon.

"We want to see positive statements here in the next couple of weeks, from not only the President, but also members of Congress, that they're going to address this issue in a way that isn't going to harm small business," Shiver said.

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