Big government is up to it again

Frank Knapp, Jr.
Posted 5/7/20

It’s unconscionable that policy makers want to pump $500 billion in loans to large corporations without requiring them to preserve jobs or limit executive pay.

Small businesses must wade …

This item is available in full to subscribers.

Subscribe to continue reading. Already a subscriber? Sign in

Get 50% of all subscriptions for a limited time. Subscribe today.

You can cancel anytime.
 

Please log in to continue

Log in

Big government is up to it again

Posted

It’s unconscionable that policy makers want to pump $500 billion in loans to large corporations without requiring them to preserve jobs or limit executive pay.

Small businesses must wade through a thicket of red tape in an often fruitless attempt to get an emergency loan that is only forgivable if 75% is spent on payroll.

With more than 26 million people unemployed, it is crucial that workers have money to survive. The blatant disparity between how small businesses and large companies are being treated during this crisis lays bare the hypocrisy of leaders who claim to support small firms and their workers.

In an ugly replay of the corporate giveaway under the Tax Cuts and Jobs Act, they are far more interested in funneling tax dollars with no strings attached to their corporate benefactors than ensuring Main Street entrepreneurs survive this crisis.

Businesses for Responsible Tax Reform is a coalition of business leaders calling for tax reform to aid small business owners.

Small business needs cannot be overstated. A BRTR survey finds the economic impact of the covid-19 pandemic has created a crisis for America’s small businesses: 88% have lost revenue and 70% reporting they have lost 50% or more of their revenue.

Our Main Street entrepreneurs and their employees need economic help for the longterm to recover from the decline in consumer demand and shut-down orders resulting from fighting the spread of covid-19.

In the voting booths in November looking for lawmakers who helped them rebuild Main Street, they will remember this action as the time when some law makers revealed who they truly care about.

Mr. Knapp serves as co-chair of Businesses for Responsible Tax Reform and CEO of the SC Small Business Chamber of Commerce

Comments

No comments on this item Please log in to comment by clicking here