Small business owners’ optimism in the economy is at a record high after the passage of tax reforms late last year, according to a new poll.
Confidence rose among small business owners by five points from the last quarter of 2017 to the first quarter of 2018, from 57 to 62 on the CNBC/SurveyMonkey Small Business Confidence Index, to an all-time high for the poll.
The renewed assuredness in the economy comes after President Trump signed the Tax Cuts and Jobs Act into effect in December. The bill made the largest single reduction to the corporate tax rate in U.S. history, from 35 percent to 21 percent.
According to the poll, twice as many small business owners now say they believe tax reforms will help their business as they did for last quarter’s survey.