The ASC industry is largely fragmented, with roughly 68% of ASC facilities operating independently as of 2023, and many operate as small businesses.
Here are five thing for independent ASCs to know about the upcoming administration of resident-elect Donald Trump and his plans for small businesses:
1. Mr. Trump has previously supported dismantling parts of the Dodd Frank Act, according to Forbes, which was put in place after the 2008 financial crisis to increase oversight of financial institutions. He aims to deregulate the finance industry by reducing compliance costs for banks, particularly for smaller and regional banks that often play a role in small business lending.
2. Nonpartisan think tank Committee for a Responsible Federal Budget estimates that Mr. Trump's economic plans would raise debt by $7.5 trillion.
3. Mr. Trump has pledged to make the tax cuts from his first term permanent, including a lower corporate tax rate, according to CBS News.
4. Mr. Trump has mentioned replacing individual income tax with tariffs, according to CNBC. His plan would eliminate taxes on Social Security income as well.
5. Mr. Trump pledged to end all taxes on overtime pay as part of his broader tax cuts, according to Reuters. He has also suggested ending taxes on tips.