UPDATE: Billionaire Kelly Loeffler, chief of the Small Business Administration, is facing intense backlash for her controversial claim that small business owners have never had it better than during the second term of Donald Trump. During an appearance on Fox News’ Sunday Morning Futures, Loeffler stated, “I don’t think small business owners have ever been so excited to pay their taxes, thanks to President Trump.”
This statement has sparked a wave of criticism as Loeffler, whose net worth is approximately $1 billion, asserted that small business optimism reached an all-time high in the third quarter of 2025. She credited this surge to the Trump administration’s One Big Beautiful Bill Act, now known as the Working Families Tax Cut Act, claiming, “Small businesses finally have certainty over what their tax rates are gonna be.”
However, the U.S. Chamber of Commerce reported a record high in its Small Business Index, while the National Federation of Independent Business (NFIB) revealed its Small Business Optimism Index was only slightly above the long-term average in November, often dipping throughout the year. Economists consider the NFIB index a more reliable measure, using extensive datasets to track behavioral patterns across various sectors.
Despite Loeffler’s claims of tax law certainty improving conditions for small businesses, further NFIB surveys highlight that inflation, rising costs, and labor access remain significant concerns. Commenters on social media quickly challenged her optimistic assessment. One wrote, “Said no small business ever,” while another stated, “No small business owner is excited to pay more taxes while tariffs jack up costs and kill margins.”
Critics also pointed out Loeffler’s recent purchase of a luxurious $30 million home in an affluent Georgia neighborhood, questioning her connection to the struggles faced by everyday small business owners. “Says the woman who just bought the most expensive house ever sold in Georgia,” one comment read.
This backlash raises critical questions about the disconnect between high-level officials and the realities of small business owners. As Loeffler continues to advocate for Trump’s economic policies, many are wondering about the actual impact on the ground.
The Daily Beast has reached out to the Small Business Administration for a response to the mounting criticism. This developing story highlights the ongoing debate over economic policy and its real-world effects on small businesses across the nation.
Readers are urged to stay tuned for updates as this story unfolds.