"Chairwoman Velázquez Releases Report on How Trump 2021 Budget Fails Small Businesses"
Summary
A press release dated February 19, 2020 announcing that House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) released a report on how the Trump Administration's 2021 budget proposal will affect small businesses and entrepreneurship. According to the report's key findings, the proposal cuts the overall Small Business Administration budget by 17.9% from $998.4 million to $819.1 million and cuts Entrepreneurial Development programs by nearly $97 million or 36.5%. The findings state it cuts the microloan program by $9 million and lending under the 504 Loan Refinancing Program from $7.5 billion to $1 billion. They also list elimination of the Minority Business Development Administration and of many Rural Business Development Programs at the U.S. Department of Agriculture.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
Chairwoman Velázquez Releases Report on How Trump 2021 Budget Fails Small Businesses February 19, 2020 Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) released a report outlining how the Trump Administration’s 2021 budget proposal will harm small businesses and entrepreneurship in America. “President Trump’s budget is full of broken promises and instead of investing in the future, threatens to leave America’s small business men and women behind,” said Velázquez. “President Trump made clear his interest in serving Wall Street over Main Street when his Administration’s enacted a corporate tax giveaway. Now as the deficit balloons, the President is further turning his back on hardworking Americans with a budget that cuts the Small Business Administration, slashes rural support programs, and eliminates economic development programs.” Key findings include: Cuts the overall Small Business Administration (SBA) budget by 17.9% from $998.4 million to $819.1 million. Cuts Entrepreneurial Development programs by nearly $97 million or 36.5%. Decreases access to capital by cutting the microloan program by $9 million and cutting lending under the 504 Loan Refinancing Program from $7.5 billion to $1 billion. Eliminates the Minority Business Development Administration. Slashed funding for the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy by 85.6 percent, an industry employing 2.2 million Americans. Eliminates many of the Rural Business Development Programs in the U.S. Department of Agriculture. The full report is available online here.
File and source
- File
- 3149_2020-02-19_chairwoman-vel-zquez-releases-report-on-how-t.html
- Size
- 25,831 bytes
- SHA-256
- 7e058a41512ce2b1841a0fc593b1153388a011787856115f7969527f0843cb37