by Matthew Holloway | May 7, 2025 | Economy, News
By Matthew Holloway |
The latest job report from the National Federation of Independent Business (NFIB) shows that 34% of small business owners (seasonally adjusted) reported that despite having open positions in April, they could not find employees to fill them. Chad Heinrich, state director for NFIB in Arizona, offered some suggestions for Arizona lawmakers to address the situation and urged the passage of AZ Senate Bills 1069 and 1215.
“Arizona’s small businesses are the foundation of our economy, and our state has a chance to lead the way in empowering them,” Heinrich said in a statement. “Lawmakers have already done good work keeping taxes and regulations in check. Now, I urge them to pass Senate Bills 1069 and 1215. These two measures will lift a significant recordkeeping burden from Arizona’s smallest businesses and safeguard legal proceedings from foreign entity involvement.”
Senate Bill 1069 sponsored by AZ Senator JD Mesnard (R-LD13) would, if enacted, increase the Business Personal Property Tax exemption to $500,000 per taxpayer, relieving the tax burden on small business owners and “reduce record-keeping and compliance costs enormously,” according to the NFIB.
The bill was passed by the Senate 17-9 with four Senators not voting and passed the House Ways and Means Committee on March 5th.
The second measure, Senate Bill 1215, proposed by AZ Senate President Pro Tempore Vince Leach would require the disclosure of third-parties sponsoring predatory lawsuits against Arizona small business owners and was passed by the House Judiciary Committee on March 26th and is pending consideration by the House Rules Committee. The bill is also supported by the Arizona Chamber of Commerce & Industry, the Arizona Manufacturers Council, the Arizona Lodging & Tourism Association, and the Arizona Trucking Association.
Courtney Coolidge, executive vice president of the Arizona Chamber of Commerce & Industry said in a February statement, “Third party litigation funding has grown to an estimated $15 billion industry in the U.S. Essentially what happened is funders pour money into lawsuits in exchange for the settlement. This is a simple transparency bill to ensure transparency in our courts, protect litigants and safeguard against foreign influence. This is not just an Arizona issue; several states have passed this with bipartisan support.”
Chief Economist Bill Dunkelberg explained the NFIB report’s findings saying, “Small business owners remained open to hire and grow their workforce in April. While the percent of open positions decreased a bit, Main Street firms are still struggling to find qualified applicants for their plentiful open positions.” Per the NFIB report, the percentage of unfilled job openings spiked in 2021-22 and have returned to the lowest level observed since January 2021.
Per the NFIB report, the percentage of unfilled job openings spiked in 2021-22 and have returned to the lowest level observed since January 2021 with the largest concentration of openings in construction, transportation, and manufacturing.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Matthew Holloway | Feb 25, 2025 | Economy, News
By Matthew Holloway |
Arizona State Rep. Jeff Weninger (R-LD13) has targeted the hidden fees—also known as interchange fees—which are imposed by credit card companies every time a card is used for payment. These fees are charged on every transaction and can range from 1% to 5%. The lawmaker is calling for these fees, which are charged on transaction totals, including taxes, to be reformed to include only pre-tax totals.
Weninger penned an op-ed with the straightforward message that “It’s time to wipe the swipe on taxes.” He called upon members of the Arizona House of Representatives to support HB2629, legislation he has sponsored to force credit card companies to eliminate swipe fees on sales taxes.
He wrote in part, “The credit card industry is dominated by two major players—Visa and Mastercard—who control 90% of payment processing transactions outside of China. These companies are raking in record profits, while Arizona businesses are left footing the bill for an unfair, hidden charge.
“HB2629 will stop this practice and ensure Arizona businesses and consumers are treated fairly. By eliminating swipe fees on sales taxes, we can keep more money in our state’s economy, help small businesses grow, and prevent credit card companies from profiting off of money that should go back to our communities.”
The National Federation of Independent Business (NFIB) announced its support for the bill with NFIB State Director Chad Heinrich explaining in a statement, “HB 2629 will protect small businesses and keep more resources in Arizona for Arizonans. Today, millions of dollars, which could be better spent in Arizona on higher employee wages, better benefits, and business expansion, are instead being sent to out-of-state banks and major credit card companies that profit off Arizona state and local taxes.”
As noted in Weninger’s op-ed, Arizona businesses and consumers combined paid out over $217 million in interchange fees in 2023. According to Weninger, it’s “a fee on a fee that never should have existed in the first place.”
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Daniel Stefanski | Sep 24, 2024 | Economy, News
By Daniel Stefanski |
A leading small business advocacy organization has presented several Arizona lawmakers with its top award.
Earlier this summer, the National Federation of Independent Business (NFIB) presented a handful of Arizona legislators with its Guardian of Small Business Award. The individuals recognized with the award were as follows:
- Speaker of the House Ben Toma
- Representative David Livingston
- Representative Travis Grantham
- Senate President Warren Petersen
- Senator J.D. Mesnard
- Senator T.J. Shope
“These six lawmakers have gone above and beyond on behalf of Main Street Arizonans,” NFIB State Director Chad Heinrich said. “In this difficult economy, where costs continue to go up and open positions remain unfilled, it’s incumbent on lawmakers to not make it more difficult to own and operate a small business here in Arizona. Our members are grateful for each of these lawmakers’ commitment to free enterprise and sound policy.”
NFIB presented the award to Petersen in August.
NFIB presented the award to Shope in August.
NFIB presented the award to Mesnard in August.
NFIB presented the award to Toma earlier this month.
Toma responded to the award, stating, “Thank you. It is a great honor to be recognized by those dedicated to protecting and promoting small businesses.”
According to its website, “NFIB is the voice of small business, advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today.”
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Daniel Stefanski | Oct 15, 2023 | Economy, News
By Daniel Stefanski |
The current state of the American economy continues to trouble small business owners.
This week, the National Federation of Independent Business (NFIB) released its latest Small Business Optimism Index, showing a drop of a half point during the month of September. The index now stands at 90.8, and it has not risen above the average mark of 98 for 21 consecutive months.
NFIB Arizona State Director Chad Heinrich commented on the latest issuance of the index, saying, “It’s clear that small business owners remain deeply concerned about the economy. The pressure of inflation and the labor shortage are continuing to take a toll on our job creators, with little relief in sight.”
Bill Dunkelberg, NFIB’s Chief Economist, also weighed in on the recent numbers from his organization, writing, “Owners remain pessimistic about future business conditions, which has contributed to the low optimism they have regarding the economy. Sales growth among small businesses have slowed and the bottom line is being squeezed, leaving owners few options beyond raising selling prices for financial relief.”
The announcement from the Arizona arm of the influential business group stated that “twenty-three percent of owners reported that inflation was their single most important problem in operating their business, unchanged from last month and tied with labor quality as the top concern.”
NFIB highlighted some of the areas of emphasis from their index, including:
- Small business owners expecting better business conditions over the next six months deteriorated six points from August to a net negative 43% seasonally adjusted, however, 18 percentage points better than last June’s reading of net negative 61% and definitely at recession levels.
- Forty-three percent (seasonally adjusted) of owners reported job openings that were hard to fill, up three points from August and remaining historically high as owners can’t hire enough workers due to few qualified applicants.
- Seasonally adjusted, a net 23% plan to raise compensation in the next three months, down three points from August.
- The net percent of owners raising average selling prices increased two points to a net 29% seasonally adjusted, still a very inflationary level.
- The net percent of owners who expect real sales to be higher increased one point from August to a net negative 13% (seasonally adjusted), still a very dismal posture.
Just last week, the Biden Administration boasted of a “record-breaking economy,” noting the increase of jobs, an unemployment rate below 4%, a low unemployment rate for women, and low unemployment for African Americans, Hispanic Americans, and Americans with disabilities.
Others see the economy in an entirely different light. Alfredo Ortiz, the president and CEO of Job Creators Network, recently said, “This accelerating inflation, which is nearly twice the Federal Reserve’s target rate, is another Bidenomics blow to ordinary Americans and small businesses dealing with rapidly rising prices that are lowering their real wages and living standards for two and a half years.”
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Daniel Stefanski | Sep 16, 2023 | Economy, News
By Daniel Stefanski |
American small business owners are not becoming more optimistic with the trends of the nation’s economy.
This week, the National Federation of Independent Business (NFIB) released its Small Business Optimism Index for August 2023, showing a decrease that month, marking twenty straight months that the index has been under the 49-year average of 98.
NFIB revealed that “twenty-three percent of small business owners reported that inflation was their single most important business problem, up two points from last month,” and that “the net percent of owners raising average selling prices increased two points to a net 27% (seasonally adjusted), still at an inflationary level.”
In a statement, NFIB State Director Chad Heinrich said, “For Main Street, inflation has yet to be tamed. Between the pressure on prices and the worker shortage, the challenges of this economy continue to make it difficult to own and operate a small business.”
NFIB Chief Economist Bill Dunkelberg added, “With small business owners’ views about future sales growth and business conditions discouraging, owners want to hire and make money now from strong consumer spending. Inflation and the worker shortage continue to be the biggest obstacles for Main Street.”
The press release issued by NFIB Arizona noted key findings from the Index, including:
- Small business owners expecting better business conditions over the next six months deteriorated seven points from July to a net negative 37%, however, 24 percentage points better than last June’s reading of a net negative 61% but still at recession levels.
- Forty percent of owners reported job openings that were hard to fill, down two points from July but remain historically high.
- The net percent of owners who expect real sales to be higher decreased two points from July to a net negative 14%.
NFIB’s unveiling of its Small Business Optimism Index for August preceded the release of the U.S. Bureau of Labor’s Consumer Price Index, which was published Wednesday. The U.S. Bureau of Labor reported that its Consumer Price Index for All Urban Consumers (CPI-U) “rose 0.6 percent in August on a seasonally adjusted basis, after increasing 0.2 percent in July,” and that “over the last 12 months, the all items index increased 3.7 percent before seasonal adjustment.”
The U.S. Bureau of Labor wrote that “the index for gasoline was the largest contributor to the monthly all items increase, accounting for over half of the increase” – as well as “continued advancement in the shelter index, which rose for the 40th consecutive month.” According to the Bureau, “the energy index rose 5.6 percent in August as all the major energy component indexes increased.”
In addition to its Consumer Price Index, the Bureau of Labor also published its Real Earnings Summary on Wednesday, which showed that “real average hourly earnings for all employees decreased 0.5 percent from July to August, seasonally adjusted.”
Arizona Senate President Pro Tempore T.J. Shope reposted a reaction to this week’s economic update, which summarized the August inflation and wages reports. The post, from a Senior Fellow of the Manhattan Institute, said, “I am legitimately baffled by fellow economists who seem to think that a few months of lower inflation negate the 17% price hike since 2021 that continues to outstrip wage growth. Until wages fully catch up, the higher prices will remain a family burden.”
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
