Small businesses were less optimistic as the National Federation of Independent Business' monthly Small Business Optimism index published Tuesday slipped three points to 91.4.
Calling it "disappointing," the NFIB said in a release that the June decline reverses "several months of slow but positive growth."
"All in all, this month's survey was a real economic downer," said NFIB Chief Economist William Dunkelberg. "The economy has definitely slowed; job growth will be far short of that needed to reduce the unemployment rate unless lots of unemployed leave the labor force-no consolation. Taxes remain a top concern for the small-business community. With the Supreme Court's endorsement of the individual mandate as a tax in its health care decision, we will have to wait for July's survey to realize the effect it will have on small-business confidence. With over 20 new taxes contained in the law-a price-tag of $800 billion-and most of the regulations yet to be written by HHS, the implications for employee costs remain unclear. Uncertainty reigns supreme for much of Main Street."