Ex-Trump official fears fate of small businesses under a Harris admin
'You cannot have a vibrant economy if the small business community is not vibrant,' Linda McMahon says
Former Small Business Administration Administrator under President Trump Linda McMahon explains how small businesses would fare under a Harris presidency, the Vice President's stance on price gouging, and wage growth.
Former Trump Small Business Administration head Linda McMahon is raising concerns over what the small business climate would look like under a Harris-Walz administration.
McMahon told FOX Business' "The Big Money Show" Thursday that she was "afraid" of what would come with Harris and Walz at the helm.
"Let me just take you back a little bit under the Trump administration, where the small business climate was – we had lower regulations, we had lower taxes, we had the highest optimism rate, according to NFIB, from small businesses, you know, in decades, we had more businesses starting, the economy was flourishing, and it was a wonderful place to be for a small business owner."
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Former Small Business Administration Administrator under President Trump Linda McMahon shares her concern on what a Harris-Walz administration would mean for smal (Melina Mara/The Washington Post via Getty Images / Getty Images)
"So then, under the Biden-Harris administration, we saw [an] increase in regulations, increase in taxes, optimism levels fallen." She continued, "it's just not the same place, and so you cannot have a vibrant economy if the small business community is not vibrant."
The former administrator addressed the Democratic presidential candidate's proposal to implement federal price controls to stop "price gouging" on groceries and blamed the current administration for the economic "slump."
"When Kamala Harris talks about, you know, corporations and gouging prices and all of that, that's not the reason for the slump in the economy. The reason is the policies that have gone under, you know, Biden, Harris, and I am afraid of what, you know, a Harris-Walz administration would bring with more regulation, more taxes – and I just think that's what we'll see."
"That's clearly what the governor did in Minnesota. I mean, he has the highest corporate tax rate in the country," she added regarding Gov. Tim Walz's record.
The former official also explained how difficult it would be for small businesses to operate under an administration that discourages enthusiasm and growth through measures targeting price-gouging.
"They're afraid to grow," McMahon said. "Why would they invest in a business? Why would there be more business innovation, if that kind of damper is put on the enthusiasm for small businesses and giving them the tools to help them succeed rather than… giving them the environment in which to grow."
Minnesota small business owner Andrew Hulse describes how Gov. Tim Walz handled the coronavirus pandemic on 'The Evening Edit.'
McMahon turned toward the vice president's attempts to distance herself from the Biden administration's economic policies, as Americans grapple with wage growth and inflation.
"We shouldn't allow her to try to distance herself, but this was the Biden-Harris administration," she argued. "These are policies that she supported, in interviews that she's had over the last three years. You will hear her talk all the time about being supportive of the American worker, but how is it being supportive of the American worker if in fact, you know, the wages don't keep up with the price of inflation, and inflation is a result of their policies."
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She noted how in that environment workers would find it difficult to "get ahead," resulting in people taking on second jobs or seniors taking jobs to make ends meet.
"We have to support our small businesses, we have to support our American workers, because that's the only way the economy really does grow and flourish," she concluded.