- June 12, 2024
- Posted by: legaleseblogger
- Category: Related News
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Today, my Administration announced over 18 million new business applications since I took office, each one an act of hope and confidence. We’ve had the three strongest years for new businesses on record and the small business boom that has powered our economic comeback continues. Since the pandemic, Black business ownership has more than doubled, Hispanic business ownership is up 40 percent, and women own a record share of businesses.
This unprecedented wave of entrepreneurship is not a mere coincidence. My Administration is actively supporting it with historic investments in small businesses and communities nationwide. Every Republican in Congress voted against vital American Rescue Plan relief that aided 100,000 restaurants and bars and 225,000 child care programs in staying open. Additionally, a State Small Business Credit Initiative is assisting businesses in their launch phase across the country. Unfortunately, the Congressional Republican agenda threatens to undermine these efforts by repealing our infrastructure and manufacturing investments, cutting Small Business Administration funding by nearly a third, and prioritizing big corporations and billionaires by reducing their taxes and safeguarding their loopholes. I remain steadfast in my commitment to supporting the communities of Scranton and main street, rather than catering to Park Avenue and Wall Street.
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