Joseph A. Baltimore - Division Manager | LinkedIn
Joseph A. Baltimore - Division Manager | LinkedIn
Small business owners recently shared their challenges with the U.S. House Ways and Means Committee during a field hearing in West Virginia. The hearing aimed to highlight the difficulties small businesses face, such as inflation, labor shortages, and supply chain disruptions.
Wylie McDade, co-owner of Devil’s Due Distillery in West Virginia, testified about the economic hurdles his business has encountered since opening in 2021. "Much has changed in the past two years," McDade noted. He emphasized issues like fluctuating fuel prices, glass shortages due to factory closures, and rising input costs on grain. These factors have complicated planning and increased order lead times significantly.
Despite these obstacles, McDade's business has refrained from raising prices to avoid impacting growth negatively. "Our workforce should consist of seven to ten in order to work the distillery…yet we do so with five," he explained.
McDade also appeared on Fox News with other small business owners to discuss their reactions to the State of the Union Address. They expressed disappointment that their concerns were not adequately addressed. "I didn’t see a whole lot about small business," McDade stated.
In addition to testifying, McDade and his co-owner Brian Halbert participated in an NFIB national ad campaign advocating for making the Small Business Deduction permanent. This federal tax deduction allows pass-through entities like Sole Proprietorships and LLCs to deduct up to 20% of their qualified business income but is set to expire after 2025.
Tina Miller provided written testimony emphasizing similar concerns and highlighted the need for fewer regulations on small businesses. She also suggested using state budget surpluses to bolster unemployment insurance trust funds. Miller stressed that "small businesses are the backbone of both Virginia and our country’s economy."
The Ways and Means Committee plans more field hearings throughout Congress, inviting independent business owners like McDade and Miller to voice their concerns.
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