Budget Agreement Good News for Small Businesses and the Economy
Statement by John Arensmeyer, Founder & CEO of Small Business Majority, on the bipartisan budget agreement introduced today by House and Senate lawmakers to prevent additional sequester cuts
We're glad lawmakers have come to an agreement on a plan to repeal the sequester and stave off another round of drastic spending cuts that could devastate small businesses and our economy. We̢???re pleased this proposal is a bipartisan effort and look forward to seeing more of the details from the agreement. Small businesses need a pragmatic budget blueprint that provides certainty and opportunities for the future.
With the arrival of the holiday season, small businesses have become increasingly concerned about how another round of sequester cuts could affect their businesses and the middle class̢??a category that includes virtually all their customers and 97 percent of small business owners themselves. This agreement comes as welcome news.
The sequester was especially hard on small businesses. Funding for Small Business Administration loans, education, infrastructure and research have all been cut. In addition to reducing important services, slashing public investment in a sluggish economy reduces consumer demand, forcing small businesses to make cutbacks in order to survive. In fact, it was predicted that 45 percent of all job losses resulting from cuts to programs in the first year of sequestration would come from small businesses.
Small employers want a lasting resolution to our country̢???s fiscal challenges so they have the economic certainty they need to create jobs and thrive. Small Business Majority̢???s scientific opinion polling shows a majority of small businesses want a long-term solution to the debt ceiling so the U.S. can pay its bills and the issue doesn̢???t come up for political votes over and over again. What̢???s more, additional opinion polling found small business owners are more interested in fixing the economy than wrangling over the deficit.
It is our hope lawmakers can continue to put partisan differences aside and hammer out a long-term solution to our country̢???s fiscal issues that instates smart small business-friendly policies that help our job creators do what they do best: put America to work.
<p><strong>About Small Business Majority</strong><br />
Small Business Majority is a national small business advocacy organization, founded and run by small business owners to focus on solving the biggest problems facing America's 28 million small businesses today. Since 2005, we have actively engaged small business owners and policymakers in support of public policy solutions, and have delivered information and resources to entrepreneurs that promote small business growth and drive a strong, sustainable economy. We are a team of more than 30 working from our 11 offices in Washington, D.C. and 9 states, with a network of more than 45,000 small business owners and more than 2,000 business organizations, along with a formal strategic partnership program of more than 125 business organizations, enabling us to reach more than 500,000 entrepreneurs. Our extensive scientific polling, focus groups and economic research help us educate and inform policymakers, the media and other stakeholders about issues including taxes, healthcare, access to capital, entrepreneurship, workforce development, clean energy and immigration. Learn more about us on our website and follow us on <a href="https://twitter.com/SBM_Media" target="_blank">Twitter</a>, <a href="https://www.facebook.com/SmallBusinessMajority" target="_blank">Facebook</a> and <a href="https://instagram.com/smlbizmajority/" target="_blank">Instagram</a>.</p>