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SBA administrator said business is booming because of new tax plan

An interview with Linda McMahon, the administrator of the U.S. Small Business Administration. (WWMT)

President Donald Trump says business is booming and you will see more money in your next paycheck.

In our second exclusive interview with Linda McMahon, the administrator of the Small Business Administration (SBA), she said the White House's tax plan is helping small businesses.

McMahon is a professional wrestling mogul, and now as the SBA Administrator under President Trump, she said consumer and business confidence is soaring.

"In fact, at the SBA, the first fiscal quarter of this year, compared to last year, our loan guarantees are up 20 percent, showing that enthusiasm is spurring entrepreneurs to want to start businesses or expand and grow their businesses," McMahon told Newschannel 3's Nick Minock.

In the past year, McMahon traveled to Detroit and 28 states to hear from 500 plus small business owners on how the president's tax plan could help them hire more workers.

McMahon said a majority of the tax cuts will give relief to small businesses, and starting this month, workers will see a tax relief, too.

"They will, the first of February, see more money in their pocket because the withholdings are going to be lower. So their paychecks will be reflective immediately," McMahon said.

As the White House points to promising economic trends, U.S. Sen. Gary Peters is trying to get the Commerce Department to implement stronger guidelines so small American businesses don't get ripped off by other countries.

"In Michigan, for example, we have our cherry industry that faces significant foreign competition from countries that are basically dumping cherries on the market," Peters said. "It may force many local farmers out of business in Michigan. And yet, local cherry farmers don't have the resources to engage in an expensive legal proceeding against those countries and they shouldn't have to. They Department of Commerce should do it."

We went straight to the Secretary of Commerce and asked him if he'll consider the senator's plan.

"Oh, sure," Secretary Wilbur Ross told Minock at the White House.

The secretary said it will go a long way if the U.S. gets other countries to raise their de minimis limits.

"We've got to get them to raise that sum because that will let small businesses use internet, use e-commerce, use social media, to promote their products globally," Ross said.


Follow Nick Minock on Twitter and on Facebook.

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