Linda McMahon, a former administrator of the Small Business Administration under Trump, has expressed concern about what the environment for small businesses will be like under a Harris-Waltz administration.
McMahon said Thursday on Fox Business’ “The Big Money Show” that he’s “scared” about what will happen with Harris and Waltz at the helm.
“Let’s take a moment to look back at the small business environment under the Trump administration. Regulation was light, taxes were low, small business optimism was at its highest in decades according to the NFIB, more businesses were being started, the economy was thriving and it was a great environment to be a small business owner.”
“So, under the Biden-Harris administration, [an] “More regulations, higher taxes, less optimism,” she said. “Things just aren’t the same, and you can’t have a vibrant economy without a thriving small business community.”
The former secretary pointed to a proposal by the Democratic presidential candidate to implement federal price controls to stop food “price gouging” and blamed the current administration for the economic “depression.”
“When Kamala Harris talks about corporations and price gouging and all that, that’s not what caused the economic downturn. It’s the policies that were put in place under the Biden-Harris administration. I fear that a Harris-Waltz administration will bring more regulations, more taxes, and I think that’s what we’re going to see.”
““The governor of Minnesota has clearly done what he’s done: he has the highest corporate tax rate in the country,” she added of Gov. Tim Walz’s record.
Former officials also described how difficult it would be for small businesses to operate under an administration that stifles enthusiasm and growth through measures aimed at raising prices.
“They’re afraid of growth,” McMahon said. “Why would they invest in business? Why would we see more business innovation if enthusiasm for small business is stifled in that way, and instead of giving them the environment to grow, we’re giving them the tools to succeed?”
McMahon noted that the vice president has sought to distance himself from the Biden administration’s economic policies at a time when Americans are struggling with rising wages and inflation.
“We shouldn’t allow her to distance herself, but this was the Biden-Harris administration,” she argued. “These are policies that she supported in interviews over the last three years. She always talks about supporting American workers, but how can that be supporting American workers when in reality wages are not keeping up with inflationary prices and inflation is the result of their policies?”
She noted that it’s difficult for workers to “succeed” in such an environment, which can result in people taking on second jobs or older people taking on jobs to make ends meet.
“We have to support small businesses and we have to support American workers because that’s the only way our economy will truly grow and thrive,” she concluded.
