Small business confidence fell to record lows after Joe Biden as president USA, CNBC writes.
The Q4 Confidence Index has reached 48. Since CNBC began conducting a survey in 2017, the indicator has never dropped below 50. However, in the second quarter, it plunged to 49 points amid the coronavirus pandemic and crisis.
About 53 percent of small business owners expect Biden’s tax policy to have a negative impact on their business in the next 12 months. About 49 percent refused to believe that government regulation could do them good. Overall, 34 percent of small business owners believe Joe Biden’s policies will have a positive impact on their business, while another 55 percent believe otherwise.
Raising taxes will become Biden’s immediate economic policy priority. Fox Business sources predicted that the relevant legislation would be passed almost immediately after Biden took office.