With the arrival of President Donald Trump’s administration, the nation’s political pendulum has swung, and for Tennessee businesses, that means navigating the nation’s capital could be a bit different.
Accordingly, I asked U.S. Senator Bob Corker what advice he had for businesses looking to make their voices heard more loudly in Washington, D.C. Here’s what he said:
We’ve got the [National Federation of Independent Business] and Business Roundtable for the big businesses. They’re pretty well represented, and they’re up seeing us constantly. When I was in business, I was a member of the Associated General Contractors, so I would just say be a participant in the organization that represents you and make sure that it’s vibrant. That’s the best way you can make sure people understand what’s happening, but look, I see so many Tennesseans and people know I have a business background, so I hear from people at the grocery store, dry cleaners and restaurants, so I feel like I’ve got plenty of input.
The senator was in Nashville Monday to give a wide-ranging presentation to employees and clients of the city’s largest homegrown lender, Pinnacle Financial Partners. During his 45-minute presentation, Corker covered everything from his time being vetted to potentially become Trump’s secretary of state to what he knows of the president’s highly-anticipated corporate tax reform policy, which is slated to be unveiled Wednesday. (Spoiler: He knows nothing, but is having a one-on-one dinner with the president on Tuesday.)
Overall, Corker said the most common concerns he hears from Tennessee business leaders can be boiled down to one thing: regulation.
“[Business owners] feel like it’s been very burdensome, and whether it’s in the financial industry with Dodd-Frank or just the standard things that businesses deal with on a daily basis, I do think we’re going to go through a period of deregulation that’s going to be good for our economy, and I think that’s exciting to most businesses,” he said in an interview with the Nashville Business Journal.
And as far as keeping Tennessee competitive on a national level, Corker pointed to the state’s low tax rate as well as Gov. Haslam’s recently passed Tennessee Reconnect, which provides two years of community college or a college of applied technology free of tuition and fees for adults — essentially an expansion of 2014’s Tennessee Promise, which offered the same benefits to graduating high school students.
“Many [businesses] have difficulties finding the appropriately trained person for the appropriate job. That’s a difficult thing, and our state is taking a lot of steps to overcome that with some of the educational programs we’re doing here. … Those things all bode well for our recruiting,” he said.
Meg Garner covers banking, government and law.