On Thursday’s edition of WDUN’s “The Martha Zoller Show,” Small Business Administrator and former Georgia Senator Kelly Loeffler spoke about the state of the government shutdown and small businesses in America.
“The Schumer shutdown is incredibly unfortunate,” Loeffler said. “We have federal workers … that are not getting paid.”
Loeffler said her job has changed due to the shutdown by not being able to travel around the country or do things critical to their mission.
“320 small businesses every single day in this country are not able to close on their commercial bank loans, depriving main streets of $170-million every single day in needed capital,” Loeffler said. “The Schumer shutdown is turning into the Schumer layoffs.”
Loeffler told AccessWDUN at a conference in Suwanee in April that the SBA had eliminated $190-million in “wasteful spending” and a 43% reduction in their workforce.
Loeffler added that she understood they wanted to have their policy discussions surrounding extending Medicaid subsidies that were rolled back in President Donald Trump’s “One, Big Beautiful Bill Act,” but does not think a shutdown is the way to do it.
The last Senate vote at the writing of this article was on Wednesday, and it again failed to reach the 60-vote threshold to overcome a filibuster in a 51-44 vote.
On small businesses, Loeffler said the SBA is focused on deregulation.
“We are deregulating as fast as we can so that small businesses don’t have that added tax of regulatory compliance costs,” Loeffler said.
Loeffler added that in their last year (that ended on Sept. 30), the SBA did 85,000 loans totaling $45-billion.
“During the last four years under Biden, we had massive inflation that was probably underreported at 20%, it’s probably much higher,” Loeffler said. “I think many small businesses saw their costs double, and many families saw their costs just go up much higher than 20% … that’ s why I’m advocating for interest rates to continue to come down.”
Loeffler also said that there is a new “blue collar boom” due to the convergence of AI automation and technology in factories and manufacturing.
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