House Speaker Nancy Pelosi (D-CA), House Majority Leader Steny Hoyer (D-MD), House Majority Whip James Clyburn (D-SC), Senate Minority Leader Chuck Schumer (D-NY), Senate Minority Whip Dick Durbin (D-IL), and Senate Assistant Minority Leader Patty Murray (D-WA) – have made a profound error. Their error will cost America – and it may cost them.
By blocking unanimous consent April 9 on a small business rescue add of $250 billion urgently needed across the US – they have cost small businesses dearly, placing millions of businesses and jobs at risk in their home states and nationwide. The error hurts all Americans – including working seniors – with 40 percent of Americans over 55 now in the labor force.
Timelines are telling, this one compelling. On Friday, March 27, the President signed the CARES law, setting in motion release of 349 billion dollars to save American small businesses – involuntarily forced to shut down in hopes of preventing transmission of coronavirus.
On Friday, April 3, the Small Business Administration (SBA) began approving applications from small businesses for life-and-death loans, filed through community and large banks nationwide.
Immediately obvious was one fact: While SBA’s small business loans cover 2.5 times payroll, forgiven after eight weeks if no employees are laid off, the money would be tight.
Another $250 billion was needed, as many of America’s 30 million small businesses sought coverage to meet payroll. Senate Republicans immediately introduced a bill matching the need and asked unanimous consent for the added resources on April 9.
The six Democrats above – Pelosi, Hoyer, Clyburn, Schumer, Durbin, and Murray, top of Democrat’s food chain – blocked the bill, effectively preventing critical payroll resources from reaching small businesses. The crisis is now upon many, this week of April 13.
Why? Democrats want to add things to the small business loan bill. That is the price of Democrat support in both chambers. They want more spending, more bells and whistles.
In an act of extraordinary opportunism and irresponsibility, Speaker Pelosi said April 9: “We have made our statement.” Indeed. In effect, no money to save small businesses unless you give us more goodies.
The effect of this act, foisted on small businesses nationwide, is bound to be profound. It represents a misunderstanding of what is required to run a small business, keep people employed.
Most small businesses operate with limited liquidity, minimal margin for error, let alone cash to manage a prolonged shutdown, no fault of their own. The audacity, arrogance and ignorance of saying suffering small businesses must wait on another Democrat wish-list – boggles the mind.
Small businesses in states and districts represented by these Democrats will feel the impact. As of April 11, 725,000 loans were processed by SBA under the Payment Protection Program, drawing $182 billion from the original $349 billion.
Within days, the rest is expected to be consumed. Small businesses nationwide will have no lifeline to meet payroll, no income due to the shutdown. Democrats have stopped the process, leaving small businesses to struggle alone, even if they restart it the week of April 13.
Democrats have cost America’s small businesses precious time, loss of certainty over payroll coverage, amputated liquidity and planning time, in many cases the opportunity for survival.
Missing payroll, rent, mortgage, inventory, and other contract payments can be irreversible, dispositive both for small businesses and those who get their payments, from employees to landlords. The process cascades.
This is what congressional Democrats do not understand, but soon will. California has more than four million small businesses, which employ more than seven million people. These small businesses account for 99.8 percent of all California businesses, employing 48.8 percent of the state’s workforce. These businesses are the heartbeat of California’s economy. Most are closed, choking, and at serious risk. Democrats – led by Pelosi – have placed them at greater risk.
Ditto for New York, where Senator Schumer’s State is now in great jeopardy. New York has at least 1.8 million small businesses, providing half a million jobs – before including New York’s enormous pool of self-employed. They are all now at increased risk of financial failure.
Congressman Steny Hoyer, Democrat of Maryland, should be no less concerned. That state has at least half a million small businesses, which employ hundreds of thousands, again before counting the self-employed. Hoyer has hobbled them all.
Democrat Senator Dick Durbin’s Illinois has more than a million small businesses, Democratic Senator Patty Murry’s Washington has more than half a million, and Democrat James Clyburn’s South Carolina has just under half a million – all before counting the self-employed. Many of those businesses, and their worried employees, are closer to the cliff – thanks to recklessness by Democrat partisans.
Nationally, tallies show America has 30.2 million small businesses, which provide roughly half of all of America’s employment. The central question is this – should we not want to save that engine of the American economy? No one wants waste, largess or unnecessary spending – but this is a crisis not of their making, and that is why the rescue of SBA’s loan program is key.
Knowing barriers of entry for restarting a business are high, how can any responsible member of Congress not do everything possible to preserve these American risk-takers, product makers, retailers and employers?
Democratic congressional leaders – and their caucus – are costing America dearly. Days and weeks translate into survival or failure, jobs held or lost, paychecks or none. While Democrats angle for ways to load bills with unnecessary spending, Americans suffer, worry, wonder, wait.
Whatever happens this week, Democrats are playing with fire. American businesses with fewer than 100 employees account for 98.2 percent of the total, while those with less than 20 employees count for 89 percent of the total. America needs small businesses to pull through.
The American economy, millions of small businesses, tens of millions of jobs rest in the balance. Lest they forget, so do jobs in DC. Congressional Democrats made a profound error. They need to correct it – fast. Putting small businesses – countless American lives and families – at risk for misconceived partisan advantage is wrong. November is coming, but we need responsible leadership now.
I was just reading replies again…the bad thing about voting the Dems out…it’s not like if you or I were to be ‘fired’ and loose our income and health care…they get to keep retirement, health care etc. – if they are voted out they should get 6 weeks unemployment and pay for COBRA.
We are a small business – 5 employees but we are probably not going to survive. We applied for the PPP on 4/4/20 – money ran out. We applied for the EIDL – haven’t heard anything. In our small circle of small business friends they have heard nothing either. I hope I can live on Social Security because if we close that’s all my husband and I will have.
We haven’t had RESPONSIBLE leadership in Congress for some time, and I’m not talking just about the now Dem majority House. We were no better under Paul Ryan or his predecessor Boehner. They were slow to dead still as well in working with Trump. After Obama got the socialist ball rolling with spurring & fanning flames of social unrest in multiple ways, a House dominated by Democrats seem to have been pushed to get rid of Trump any way possible. Trump, from day one, began putting kinks in globalists accomplishments to destroy the US, because the US more than any other non-communist country lead the FREE world. Globalists want a controlled, dominated world. How they plan to deal with China and Russia is another matter.
If you remember, Nancy told Americans that ‘wealth is not for them’ – this was after the tax cut. And the Democrats are now making sure every body knows that given their druthers, the Democrats want to control American lives – just like the Chinese and the Maduro governments. Yesterday, Schumer, D-NY, put out a statement that the Democrats want billions for state and local governments – why? Govt employees have not been laid off/furloughed? Could it be that the Democrats are steaming that our President did not create another giant agency? That he used private companies to deliver the goods? Or, is it to give SEIU millions just in time for the elections. Why do I think its the latter?
I really believe the nasty Dem party is hurting the economy as well as small business funding These dirty Politicians are only self serving and only respond to their own. Sick NEEDS ! ALSO, VERY VERY DISHEARTENED ABOUT HOW THE SMALL BUSINESS ASSISTANCE IS BEING HANDLED ???
I Was an unconditional supporter of POTUS Now, I am seeing extremely bad situation of the assistance monies going to CHAIN Businesses Ie Ruth Kris.Cheesecake Factory and many others who have FRANCHISES AND MONIES IN THE BANK TO ASSIST Them! NOW. THEY ARE GETTING EXTRA FUNDS WHICH THEY DO NOT NEED TO Pay Back!!!!! HOW IS THIS FAIR, HOW IS THIS ASSISTING THE SMALL BUSINESS OWNER WHO HAS BEEN WAITING ENDLESSLY FOR FUNDING AND WHO IS NOW DROWNING ? THE CONCEPT is a good idea However, the funding is being TERRIBLY, MISSUSED TRUMP ET AL I AM VERY VERY DISAPPOINTED IN YOUR POOR PERFORMANCE ??????????
the only way the democrats can turn this around is getting rid of NANCY P. She blames president Trump for everything otherwise PRESIDENT DONALD TRUMP 2020 2020
At least Bernie was honest about being a communist. Biden would just play with the marbles he has lost and let the swamp run things. How could anyone vote “Democrat” again? They all hate freedom!
I am deeply disturbed at the one sided slanted views that are being displayed on Amac website. They are obviously pro trump which is not my political opinion what so ever. Trump lies everyday in his News briefing and he is now using it as a Rally platform which I really find totally inappropriate. He believes he is the King of this Country and in 1776 this Countru declared their Independence from a Monarchy. The Amac has to stop supporting this idiot. I will not renew my membership when it comes up for renewal. I was misinformed when the Insurance Company prompted Amac for me to get a discount. I was not informed that they politically promote either the Republican Party or if it is Trump. Your Polls are very one sided also. We don’t have a true opportunity to vote how we feel.
Don’t let the door hit you in the butt. Bye Bye comrade!
My concern is that american’s have short memories. Come November they will forget what is being done to them and who is doing it to them. They will believe the BS that the Dem’s will tell them as we get closer to the elections.
When one robs peter to pay paul you can always count on the support of paul.
As a Mexican-AMERICAN it blows me away when I hear things like “Gov Newsome in Ca-has approved a bill to give immigrants $500” FOR WHAT? To buy their votes that aren’t legal to begin with? I have nothing against immigrant people but I would think some of them would be tired of being used to lie to a Nation that knows better. We know their votes DO NOT COUNT, We know they have NO RIGHTS here. I DON’t Care what these Socialist Politicians tell you. The immigrants are being used for bad, and I wish they would wake up and protest. But, there’s money involved. I pray for our country and President everyday. What’s wrong with people. Is everyone brainwashed?
I got told “Why are you Conservative and not Democrat” I said because I believe in working for what I need. I don’t want anything from the government but peace, watch out for veterans and seniors and I’m keeping my guns.
The socialist want everything free , and don’t want any interference from anyone. Pelosi is non-essential,as are a lot of the Congress (most),actually.
Mr. Charles, I’m confused. Are you saying New York has 1.8 Million small businesses but only 1/2 million employees??? No one is working in 1.3 MILLION Businesses??
the government should make noooo ! bail outs !!!!!!!!!!
Just another example of why we need term limits for all branches and levels of government. Without term limits, their principal interest is re-election, not what is best for the country. The excesses of President-for-Life FDR led to presidential term limits. The excesses of Congress continue to demonstrate the need to limit their time in office. Their ability to gerrymander congressional districts results in relatively little turnover by elections.
The Democrats need to have their paychecks stopped, PERMANENTLY !!!!!!!!!!!!!!
Vote them all out of office
They would rather have their way than to help struggling small business owners start our economy back up! Vote them all out of office!
They would rather have their way than to help struggling small business owners. Vote them all out of congress!
They shouldn’t get a paycheck also.
They’ve never ran a small business and had to make a dollar.