Small Business Owners Worry About Fiscal Cliff

Dec 28, 2012

As the so-called fiscal cliff looms ever closer, business owners and their employees are trying to figure out what will happen with paychecks come the first of the year.

Mike Sullivan owns Southeast Sealing in Conyers. His company refurbishes and coats cement floors. He has 18 employees.

Mike Sullivan owns Southeast Sealing which creates finishes on cement floors. He's worried about the impact tax changes will have on his 18 employees.
Credit Southeast Sealing, Inc.

Sullivan says he is worried about all of his workers facing higher taxes, but he is especially concerned about those on the lower end of the pay scale.

One of Sullivan’s employees has already asked him about next Friday’s paycheck. “She said, 'What’s going to happen?’ I said, ‘You’re going to have probably ten or more dollars less in your paycheck.’ And she said, ‘Well, that doesn’t sound like a lot. But that’s 40-50 dollars a month, and that’s my utility bill.’”

Like many small business owners, Sullivan has been watching the negotiations in Washington closely. He predicts that, whatever the changes are, they won’t take effect until February at the earliest.