A billionaire MAGA official is under fire for claiming small business owners have never had it better than under the second Donald Trump administration.
“I don’t think small business owners have ever been so excited to pay their taxes, thanks to President Trump,” Kelly Loeffler—chief of the Small Business Administration, and whose net worth stands at roughly a billion dollars—told Fox News’ Sunday Morning Futures.
Loeffler further claimed that in the third quarter of this year, “small business optimism” reached an all-time high. She credited the Trump administration’s One Big Beautiful Bill Act, which was later rebranded the Working Families Tax Cut Act.
“Small businesses finally have certainty over what their tax rates are gonna be,” she said. “[Trump] brought us the blue collar boom during his first term, and now he’s gonna add to that the small business boom.”
The U.S. Chamber of Commerce registered a record high level of confidence among business owners in its Small Business Index for the third quarter of 2025. But the advocacy group National Federation of Independent Business’s Small Business Optimism Index came in only slightly above its long-term average in November, having often dipped below that level throughout the year.
The latter index is generally regarded by economists as a more reliable measure of economic performance, given its use of larger datasets to track behavioural patterns across different sectors, rather than merely perceptions of economic strength.
While Loeffler argues that greater certainty about future tax law through provisions, like the qualified business income deduction, has buoyed optimism among business owners, further NFIB surveys indicate that issues such as inflation, rising costs, and access to labor remain salient sources of anxiety.
Users in the comment section under an excerpt from Loeffler’s sit-down with Fox News on X were swift to pile on what was perceived as an overly rosy assessment from the Small Business Administration chief.
“Said no small business ever,” one person wrote. “No small business owner is excited to pay more taxes while tariffs jack up costs and kill margins,” another added.
“Actually, many are wondering why we’re being forced to pay such high taxes when all social safety nets have been cut, and the only thing our money is going towards in Proud Boy ICE, and White House renovations,” a third said.
“Says the woman who just bought the most expensive house ever sold in Georgia,” another person replied. This month, The Atlanta-Journal Constitution reported that Loeffler and her husband, Jeffrey Sprecher, purchased a $30 million home in an affluent Georgia neighborhood.
The Daily Beast has reached out to the Small Business Administration for comment on this story.
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