Arizona small business owners struggling to make ends meet are choosing economic relief in this election

Some Arizona businessmen say economic aid will be a big part of their election this year, and it could make or break the election in one of the key battleground states.

Small businesses play a large role in Arizona’s economy, employing more than 40% of the state’s workforce, according to the Small Business Administration.

Chad Heinrich, National Director of the National Federation of Independent Business (NFIB) – Arizona, said that the biggest cloud of uncertainty for small business owners this election cycle is about the 2017 Tax Act and Activities. It was created by former President Donald Trump and expires at the end of 2025.

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“Not only do small businesses face a huge tax increase if Congress allows this to pass. But Arizona’s economic growth really depends on Congress acting and making the 20 percent cut to business a reality.” little may it be forever, “Heinrich said.

More than 500 business groups across the United States are calling on congress and the next administration to keep ex-president Trump’s tax cuts.

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Both candidates, Trump and Harris, have said they plan to cut taxes even more than the previous law.

Economists say one reason small business owners are lagging behind is because Tucson’s labor market is tight. The overall economy in Arizona is doing well, but there is room for improvement in the labor market, according to George Hammond, an economist at the University of Arizona.

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“That means workers have more job opportunities out there and employers are really struggling to hire and retain the workers they need,” Hammond said.

Some Arizona entrepreneurs say it’s harder than ever to hire more workers. The owner of Tucson Mineral and Gem World in Tucson, Arizona said his store has been open for nearly 60 years and his bills have never been higher.

“It hurts, it hurts. You have to look at the end of the month. You can’t look at every day. You have to look at the end of the month and see how it works, and hope that you have enough to pay all the bills,” said Richard Ratkevich.

Ratkevich said he believes inflation is part of the reason his bills are so high, and has made his budget more difficult.

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“I can’t hire anyone regardless of the degree. Everything is the same as what we have,” Ratkevich said.

The manager of Susy’s Shear Artistry said that it can be difficult to offer a competitive salary in their industry.

“Our stylists were going to other places to try to get better paying jobs, or to do whatever was possible, and it made this part of the service industry unviable,” said Bre Harmon.

Harmon says it has been difficult for his store to balance everything in today’s economy.

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“Everything around us is going up and we have to play the price game to be able to charge it, we’re paying everybody,” Harmon said.