Small Businesses are looking forward to the policies of the second Bush administration. A key concern is whether the policies of the first Bush administration will simply carry over into the next four years, or if Bush will pursue a more aggressive agenda in his final term in office. In the first week since the election, Bush has given indications that he will go after new initiatives that expand on his familiar core principles. But he will be challenged to pay for any new initiatives amid a ballooning federal deficit.

Due to the tight budget conditions domestic agencies may be unable to pursue major new initiatives without major new investments.

Bush's first term saw a series of tax cuts designed to stimulate the economy and aid small business. His first term produced mixed results in the area of health care, with premiums going up significantly during the past four years. Bush had scaled back 7(a) loans at one point. The Bush Administration's 2005 budget calls for further cuts to the SBA and other means for small businesses to access capital.

These are among several areas that small business can expect the second Bush administration to target for more aggressive policymaking. Over the short term, it expects an initial focus on making permanent the various temporary tax cuts that were enacted in 2001 and 2003, with a longer-term focus on eliminating the estate tax, keeping the top tax rate for dividends at 15%, and maintaining the top personal income tax rate at 35%.

Bush supports capping medical liability lawsuit damages in his second term, aiming to lower the cost of liability insurance and reduce health care costs across the board. Since the election Bush has also indicated that he will aggressively try to fix Social Security through means that may include some element of privatization..