December 20, 2018
Today, the Committee of the Whole held a hearing on my Micro-Business Start-Up Fee Relief Amendment Act. This bill will reduce the cost of a basic business license, and all required taxes and fees for businesses that have taxable income of less than $100,000. This means that aspiring business owners won't be stifled by the hundreds of dollars it currently costs to start a small business. Residents who start small catering and cleaning companies, and others working on new business ventures, will be able to keep hundreds of extra dollars in their pockets to use to expand their business. Minorities, returning citizens, youth, and seniors, who face discrimination in the job market and in getting business loans, will get a greater opportunity for financial independence and success.
I wrote this bill after speaking to young residents and entrepreneurs who told me that business license fees were a major barrier in starting a business in the District. Lowering the cost of a basic business license and associated fees is an easy step to making the District a more welcoming environment for small business owners in lower income brackets. It is particularly important to implement this bill now as we are seeing an increasing number of self-employed people across the country.
Our economy is doing very well, but I don't see enough participation from minorities, returning citizens, or senior citizens. Entrepreneurship is vital to creating new jobs, fostering creative and innovative ideas, and increasing the economic footprint of small businesses in DC. I am proud to continue to do work that supports residents of the District who are not seeing the same benefits as wealthier residents from our growing local economy.