Trump Economic Council Excludes Small Business Leaders, ASBL Reports

PETALUMA, Calif., Feb. 6, 2017 /PRNewswire-USNewswire/ -- Today Donald Trump introduced the members of his economic council with a conspicuous absence of anyone from the small business community. Having stated that he would be the "greatest jobs president God ever created," and create 25 million new jobs, it's curious the individuals on his business council are primarily from Fortune 500 firms and large corporations.

Jack Welch, former chairman and CEO of General Electric, a corporation famous for its aggressive job outsourcing, is on the council as well as 16 other members from corporations such as Walmart, PepsiCo, General Motors, IBM, Boeing, Walt Disney Co. and Tesla Inc.

"We're bringing back jobs" Trump told the press before their first meeting.

According to government data 98% of all U.S firms have less than 100 employees and they create 97% of all net new jobs. There are 28 million small businesses in America that are responsible for half of the GDP, half the private sector work force and 90% of U.S exporters.

In 2006, a Kauffman foundation study found that 100% of the new jobs since 1988 have come from new businesses which are overwhelmingly small businesses.

"If the purpose of the economic council is to try to increase corporate profits by shipping jobs overseas that's definitely the right group to talk to," said American Small Business League President Lloyd Chapman.

"President Trump has promised to be the greatest Jobs producing president God ever created. Someone needs to show him the U.S Census bureau data that shows small businesses create 97% of all the net new jobs. I haven't seen one economic policy put forth by the Trump administration that is specifically intended to benefit small businesses, and I don't expect we will. I'm very disappointed that his economic committee should be 98% percent small business leaders and it's just the opposite. It's populated with people from fortune 500 firms and they don't create jobs small businesses do."

SOURCE American Small Business League