Continuing Resolution is a Blow to Small Businesses
- The CR cuts access to millions of congressionally directed spending projects including $116 million from the Small Business Administration and $107 million in workforce development projects. Also impacted are congressionally directed spending projects in healthcare facilities, which is notable because healthcare access is a top concern for small firms.
- The CR cuts a staggering $20 billion from the IRS ahead of tax season, slowing down the filing of returns, access to tax refunds owed from 2024 expenditures and reducing the availability of customer service agents to support small businesses at tax time. Our research found nearly 80% of small business owners support increased IRS funding to allow the agency to audit large corporations and wealthy taxpayers to ensure they are paying their fair share.
- The CR increases funding for mass deportations, which small business owners in our network oppose. Our polling found more than one-third (37%) of entrepreneurs are concerned about mass deportation policies negatively affecting their business or their suppliers’ businesses, while 69% are concerned about the negative impact on the U.S. economy as a whole. Mass deportations are disruptive to the American economy and to local businesses that rely on an immigrant workforce. Rural businesses, for example, will be feeling the economic impact of losing their workforce.
About Small Business Majority
Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and equitable economy. We engage our network of more than 85,000 small businesses and 1,500 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.