February 13, 2013
The Honorable John Cornyn
517 Hart Senate Office Building
Washington, D.C. 20510
Dear Senator Cornyn:
On behalf of the National Federation of Independent Business (NFIB), the nation's leading small business advocacy organization, I am writing in support of S.J.Res. 7, which would provide a balanced budget amendment to the U.S. Constitution.
Small business owners have long supported this proposal, and our current NFIB Member Ballot indicates that 90 percent of small business owners want a balanced budget amendment to the Constitution. NFIB members believe that the amendment is necessary because we cannot afford to
to pay ever higher interest payments on the national debt. Small business owners must compete in today's economy while operating within their budgets and so too should the federal government.
Small business owners want their government to address our spending and
with the same focus and seriousness as the private sector. Unsustainable government growth crowds out the private sector and leads to negative economic consequences, such as higher tax rates - small businesses know that they cannot grow and create jobs under such conditions. Small business didn't create the fiscal train wreck facing our nation, and they understand that fixing the problem will require tough decisions on reducing government spending.
As long as deficits grow unchecked, regardless of whether they are financed by taxes or borrowing, they place very real limits on personal income, savings, investment and job creation. These limits directly impact small business owners who want to provide for their families, purchase homes, expand their businesses and create jobs. Small business owners deserve an environment that provides them every opportunity to prosper.
Our nation's small businesses are calling on Congress to fix our dangerous fiscal situation without damaging economic growth or raising taxes on job creators. If our long-term fiscal outlook is not addressed by lawmakers now, then future generations will continue to be faced with higher debt and interest payments, increased tax rates and fewer
Thank you for introducing this important legislation and we look forward to working with you to protect small business as the 113th Congress moves forward.
Senior Vice President