Business owners have high hopes for the next 12 months, according to a poll released Thursday by UBS.
Seventy-seven percent of business owners believe their company will grow within the next year. This poll release comes on the heels of the highest American consumer confidence since 2000 and continued stock market highs.
House Republicans are unveiling their tax plan Thursday, and the poll found that 29 percent of business owners would hire more workers with lower taxes. While just 11 percent of owners would bring on additional employees, if taxes remain unchanged.
A summary of the tax plan obtained by the Wall Street Journal said that corporate taxes will be reduced. The UBS poll found that 55 percent of owners believe “business taxes are too high.” GOP Tax Reform Legislation Calls For Deep Tax Cuts
Faith in the administration to positively affect business has dropped a bit since April. The UBS poll in April found that 56 percent of business owners think the administration will have a positive impact on their enterprise, now 47 percent of business owners think so.
Forty-two percent of those polled said that lower taxes are their top priority, while 26 percent said health care reform is, and 14 percent are hoping most for improved infrastructure.
President Trump has called for large investments in America’s roads, bridges and airports. Eighty percent of those polled support a $1 trillion investment in America’s infrastructure.
The poll was of 302 business owners and was conducted between Sept. 26 and Oct. 1. The average business involved in the survey has 56 employees and an annual revenue of $8 million.