“Laying off the entire staff of the Community Development Financial Institutions Fund at the U.S. Department of the Treasury is a devastating — if not fatal — blow to a critical apparatus that supports small businesses,” says John Arensmeyer, CEO of the Washington, D.C.-based advocacy organization Small Business Majority.
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In April last year, a report from Small Business Majority, a small-business advocacy group in Washington, D.C., found 59 percent of small-business owners said that barriers to child care access were impacting their business, blunting growth opportunities.
Alexis D'Amato, from the Small Business Majority, said her advocacy group was not opposed to relief, especially for small farms, but felt that small businesses should be included. “We don't agree with picking winners and losers in this tariff fight," she said…Megan Wyatt is the owner of a toy shop in Granite Bay, California, which gets roughly 80% of its products from China. The tariffs mean her costs are 10-15% higher on average this year. She has not raised prices to fully offset the new expenses, making her concerned about her ability to retain her six employees.
“We should not be surprised because small businesses are the engine of the U.S. economy. About half the employment is by small business here, 35 million small businesses across the United States, and the value of imports when you look at that small business also has a majority share. So absolutely, there are 224,000 small businesses that import because of the sheer number of small businesses that we have in the country.
The letter comes in the midst of antitrust proceedings involving companies like Google and Ticketmaster. Its signatories include the Coalition for App Fairness, Energy Marketers of America, the National Community Pharmacists Association, the National Grocers Association, the News Media Alliance and the Small Business Majority, as well as dozens of state and local business groups and businesses.
Andrea Deutsch, 58, owns a pet-supply shop in Narberth, Pennsylvania, and makes between $40,000 and $50,000 a year. The subsidy cuts her premium in half, to about $700 a month. Deutsch, who has type 1 diabetes, says going without coverage isn’t an option. If her subsidy shrinks, “I’ll have to cut back wherever I can, and there’s not a lot of fat on the bone,” she said. Many older working-age Americans like Deutsch are especially vulnerable to a lapse in the enhanced subsidies.
The Investments in Innovation Act is endorsed by several key organizations, including the Main Street Alliance and the Small Business Majority…John Arensmeyer, founder and CEO of Small Business Majority, describes the small business landscape as “challenging,” especially for business owners in marginalized communities. “One of the biggest challenges for small businesses is that the playing field on which they operate is uneven,” says Arensmeyer. “This is especially true for small businesses owned by women and people of color.”
The legislation is endorsed by the following organizations: Child Care For Every Family Network, Small Business Majority and American Federation of Teachers.
First, some quick facts I learned from the government affairs director for the Small Business Majority that surprised me: 99.9 percent of all businesses in America are small businesses. Eighty percent of businesses employ fewer than 10 employees. We hear more about the big corporations, but it’s the little guys that employ our country.
This situation highlights a broader challenge for small businesses — the gap between wanting to provide comprehensive benefits and being able to. The ACA marketplace with enhanced PTCs bridges this gap, allowing our workers to access affordable health care independently while we work toward our goal of providing health care benefits. Congress must act now to help ensure that the ACA continues to work for small businesses and their employees.