×

Only full deregulatory blitz can help small businesses, Trump's SBA chief says

Small Business Administration head Linda McMahon told CNBC on Tuesday that President Donald Trump's rollback on regulations has renewed optimism in the sector, even as a survey showed increased uncertainty.

In an interview on "Squawk Box," McMahon, who was selected by Trump to lead the federal agency, said the number of planned deregulations by the president will help small businesses from the suppression they feel.

"It's not necessarily any particular reform or any particular regulation. It's just the stacks and piles of regulations that they have to comply with," said McMahon, co-founder of pro wrestling company WWE. "A small business owner is typically the CEO but also could be the janitor."

McMahon's comment came almost a week after the White House released Trump's one-pager on tax reform, which included slashing tax rates for businesses.

On Tuesday, a survey by human resources firm Paychex found that small business hiring fell in April, but wages continued to rise.

The report showed the pace of small business employment growth is down 0.27 percent from a year ago, while national hourly earnings for the month were $25.67, increasing 2.73 percent, or 68 cents, from last year.

Martin Mucci, Paychex president and CEO, told CNBC on Tuesday that the human resources firm is seeing part-time jobs on the rise as small businesses are a little bit more cautious.

"What we're finding now is increased uncertainty," Mucci said on "Squawk Box." "We did a survey of Trump's 100 days and saw that uncertainty is up still pretty good right now."

The Paychex report comes three days before the Bureau of Labor Statistics releases its closely watched employment data for April.