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National Restaurant Association - NRA member asks for moratorium on new taxes, regulations

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NRA member asks for moratorium on new taxes, regulations

National Restaurant Association member Perry Moy, Plum Garden, McHenry, Ill., told a House Small Business subcommittee Dec. 12 that small businesses need access to capital and freedom from new government mandates.

Testifying at a field hearing in Woodstock, Ill., Moy said "banks are sitting on money and not lending it out." Moy has been in business nearly 50 years, and says even small businesses with stellar credit can't meet the criteria to get financing. He urged lawmakers to take the steps they can to make Small Business Administration loans easy to get. "If Congress can help keep the SBA's loan guarantees high, banks' exposure is minimal. It's a way to ease the pain as we get out from under the credit crisis."

Moy also asked lawmakers to put a moratorium on new mandates, taxes and regulations. "Each new rule and regulation that comes to light seems to be more complicated than the ones enacted before," he said. "Businesses like mine are hard hit by all levels of government" as revenue-strapped agencies scramble for revenue.

"We are good actors. We want to comply with the law," Moy said. "But these government mandates can divert our resources and savings. I'd rather spend those dollars on payroll and staff."

The House Small Business Committee's Subcommittee on Economic Growth, Tax and Capital Access held the Dec. 12 hearing on "Is Uncertainty Contributing to the Jobs Crisis: The Views of Local Illinois Small Businesses."

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