Optimism among U.S. small business owners is strong, according to the latest quarterly Wells Fargo/Gallup Small Business Index. The overall second-quarter index, surveyed April 1-5, was 129, up from 106 in both the year-ago second quarter and the first quarter of 2019. The survey also revealed that over half of business owners reported little impact to their tax situation from the federal tax reform legislation that has been in place for a year. Fifty-two percent of respondents described revenues as increasing over the past 12 months, while 74% said the same of the previous year’s cash flow rating. Estimates of these indicators over the next 12 months also had strong scores, with 58% of respondents expecting gains in revenues while 79% expect a somewhat or very good cash flow rating. When asked how they would rate the current state of the national economy, 63% responded it is either “good” or “excellent.”