The Detroit News: Letter: No-fault insurance reform poses pitfalls for small businesses
As Michigan legislators prepare to adjourn for spring recess, a pressing issue commands our attention and must be prioritized upon their return. Currently under scrutiny are several bills with the potential to elevate Michigan's auto insurance costs, posing a direct threat to the financial well-being of small businesses across the state.
Senate Bills 530, 531, and 575 carry the weight of potential financial strains that could leave numerous Michigan small businesses struggling. This scenario represents a departure from the economic resilience that has come to define our state.
The proposed bills, if enacted, could increase the financial burden on small businesses already grappling with various challenges, including the aftermath of the global pandemic and economic uncertainties. Small businesses often operate on tight profit margins, and any additional costs can have a cascading effect on their ability to thrive and contribute to the local economy.
Together, let's ensure Michigan moves forward without these bills steering us in the wrong direction. The message is clear: protect small businesses from rising costs, safeguarding the economic heartbeat of our state. The strength of Michigan lies in the strength of its small businesses, and it is the duty of legislators to ensure their continued success.
Fey Beydoun
CEO, Global Link International
former executive director, American Arab Chamber of Commerce.