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As the federal government shutdown drags on, small businesses in Georgia are feeling serious impacts.
FOX 5’s Rob DiRienzo spoke one-on-one with President Donald Trump’s Small Business Administrator, Kelly Loeffler, about the strain.
“Small businesses [are faced with] reduced growth, reduced hiring,” Kelly Loeffler, U.S. Small Business Administrator, said. “In Georgia, we have about 5,000 small businesses that contract with the federal government, from everything from defense to food service and everything in between.”
SBA small business loans have also been halted due to the shutdown, Loeffler said.
That is on top of small businesses like food vendors and contractors who do business with the federal government.
According to a Goldman Sachs survey released this week, 72 percent of small business owners say it’s important for the government to remain open for them to stay afloat.
Economists at Oxford estimate the shutdown could cost the U.S. economy between $7 billion and $15 billion in growth each week it continues, according to the New York Times.
Democrats argue that maintaining the Affordable Care Act’s tax credits is vital for small business owners and employees who rely on subsidized coverage.
Teresa Acosta, a former small business owner and Democratic healthcare advocate, said she was forced to close her catering business over the summer due to economic uncertainty.
She is now advocating for Democratic proposals to extend expiring health insurance subsidies, which she says also affect small businesses.
“This is going to impact small businesses that rely on the ACA, that rely on those tax credits to insure, you know, the owners, the people that work there,” Acosta said. “We can’t predict anything, which makes it really, really hard for small business.”
Loeffler blamed Senate Democrats for failing to end the shutdown.
“Senate Democrats have to realize this isn’t playing well for the American people,” Loeffler said.
She also disputed Democratic claims about protecting health care coverage.
“That’s a false claim. So look what’s happening right now. People are actually losing their jobs and therefore losing their health care. People are not getting paid.”
