Job Creators Network CEO tells Congress inflation is disproportionately harming minorities

Testifying before the House Ways and Means Committee, Job Creators Network President Alfredo Ortiz cautioned the Democratic threat of tax hikes and continued inflationary spending coupled with the ongoing worker shortage is disproportionately small businesses and minority families.

During his testimony, Ortiz discussed the "real change" that small businesses experienced under Republican-led tax reform that generated more jobs and higher wages. He pointed out that roughly two-thirds of new job growth happens in the hands of small businesses and the Tax Cuts and Jobs Act created an economic environment in which small businesses were able to succeed.

"Minority household incomes reached record highs. And home ownership, especially amongst Latinos, reached record levels," Ortiz told the panel.

He told the lawmakers that, according to a monthly poll conducted by the Job Creators Network, inflation is "twice as problematic as an other hurdle they face today." He worries that the current president's proposed tax increases would further negatively impact the ability of small businesses to "expand, hire, and raise wages for minority employees."

"While there’s little doubt there’s been historic racism in America, I find it insulting when people claim it’s the basis for minorities’ challenges in today’s economy. The best antidote to the remaining vestiges of racism is the free-market system that rewards entrepreneurs of all backgrounds," Ortiz told the panel. 

Ortiz testified as a Republican witness during a hearing titled, "Overcoming Racism to Advance Economic Opportunity."