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Business Leaders Have Mixed Reactions To State Of The Union

Written by Jenna Weiner
Published: 1/26/2011

Business leaders give President Barack Obama's second State of the Union address a tepid response, hoping rhetoric turns to action in the future.

Following Tuesday night's State of the Union address from President Barack Obama, one group has issued a response calling the speech mixed news for small businesses.

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The Small Business & Entrepreneurship Council's President and CEO Karen Kerrigan said that entrepreneurs were cheered to hear President Obama's plan to make the U.S. the best place to do business, saying that the President has awoke to the global trend of cutting taxes, simplifying tax systems and reducing business regulations.

However, she and SBE Council chief economist Raymond J. Keating were quick to point out that heartening rhetoric will not be enough to help small businesses get back on their feet and succeed, adding that substantial policy change will be required.

"Entrepreneurs and investors must now see dramatic changes on the policy front. This means immediately locking in a pro-growth tax system, restraining the regulatory tide that is sweeping over every sector of our economy and reducing government spending," said Kerrigan.

The American Small Business League, which issued a statement yesterday that predicted little from the President, had much harsher criticism for the Obama administration, saying the speech was filled with the "same tired rhetoric."    

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