Local opinion: The Hispanic community supports policies that foster entrepreneurship
The following is the opinion and analysis of the writer:
Arizona is among a handful of swing states that will decide the outcome of the November election. And with one-third of the state's population belonging to the Hispanic community, Latinos like me will have a big voice. As a Hispanic small business owner, conservative policies aimed at strengthening the economy have my support.
From an economic perspective, there's no competition between the candidates. Donald Trump has a strong track record of lowering taxes and cutting government red tape that created vast amounts of economic opportunity for Hispanic families.
A prime policy example is the Tax Cuts and Jobs Act — signature federal legislation passed in 2017 — which acted as a catalyst for economic growth. The law lowered taxes for individuals and job creators alike. My manufacturing company, HT Metals based in Tucson, provides a snapshot of the huge impact it had on small businesses and their 1.1 million employees statewide.
Notably — in addition to immediate expensing for capital equipment — the law included a 20% write-off for ordinary small businesses like mine. The provision freed up money that previously would have gone to Washington for reinvestment back into the business. For me, that meant the ability to ramp up operations and purchase new equipment, as well as improve employee wages and benefits.
It's a pattern that played out with Hispanic entrepreneurs in cities ranging from Tucson to Grand Canyon Junction.
Because of the Trump economic boom, the real median household income for Hispanic families jumped by $8,000 between 2017 and 2019. For the first time ever, the Hispanic unemployment rate dropped below 4% in 2019. And, anecdotally, a sense of optimism in the future was palpable at dinner tables and in churches across the state.
Contrastingly, rather than pushing a policy agenda that will help Hispanics achieve the American Dream, the Harris-Walz ticket is using rhetoric swaddled in victimhood. Simply pinpointing historic biases as the root of all evil won't solve anything.
Entrepreneurship — which can be fostered by lower taxes and less government red tape — is the best tool to overcome racial and economic divides. The Harris-Walz agenda of letting the Tax Cuts and Jobs Act expire, applying price controls onto small businesses, and declaring war on domestic energy production will accomplish the exact opposite.
I'm not alone in this thinking. The Hispanic community is electorally shifting towards conservatives that share their values of faith, family, hard work, and entrepreneurship. It's no surprise, given Hispanics disproportionately start and run small businesses.
A September NYT/Siena poll finds Kamala Harris has a nine-point lead over Donald Trump among Hispanics. Compare that to the 12-point advantage the same poll showed in July shortly after she replaced Joe Biden as the nominee. Currently, Donald Trump — who enjoys 41% support of Hispanics — is on track to surpass the Republican high-water mark of 40% set in 2004 by George W. Bush.
The Arizona Hispanic community will play a big role in the upcoming election. To the chagrin of Democrats who typically take the support of minority communities for granted, for many of us, Donald Trump's policies resonate with our beliefs and entrepreneurial drive more than Kamala Harris' agenda.
Votamos valores. Or, in English, we vote values.
Carlos Ruiz is the owner of HT Metals in Tucson and a partner of the Job Creators Network Foundation.
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