Middle-Market CEOs Sound Alarm on Tariff Impacts and Tax Policy Uncertainty

Core Insights - 53.2% of CEOs express strong concern over the financial impact of tariffs, prompting significant operational changes [2][4] - The survey indicates a rebound in CEO optimism, with 45.0% rating their outlook as highly positive in December, up from 34.5% in September [3] - Economic concerns remain the top issue for CEOs, cited by 55.1%, followed by talent availability at 37.5% and increasing cybersecurity concerns [6] Tariff Impact - 80.9% of CEOs are considering relocating production to mitigate tariff-related costs [4] - 75.4% may reduce their workforce, while 72.3% plan to delay investments [4] - 66.4% are exploring new supplier options, and 50.0% are contemplating price increases [4] Tax Policy Perspectives - 42.6% of CEOs reported moderate benefits from the Tax Cuts and Jobs Act (TCJA), with 51.9% anticipating positive effects if TCJA provisions are extended [5] - 43.3% have benefited from the Inflation Reduction Act (IRA), but nearly half (47.7%) reported no tangible gains [5] Survey Methodology - The CBIZ-Hofstra Survey polled 256 mid-market CEOs and leaders from companies with revenues ranging from $5 million to over$1 billion, conducted the week of December 9, 2023 [8]