Temporary Debt-Ceiling Agreement Good News, But Small Businesses Want Long-Term Solution
Statement by John Arensmeyer, founder and CEO of Small Business Majority, on today's announcement that the House of Representatives will vote on a three-month extension of the debt ceiling limit next week
Today's announcement that the House of Representatives will vote next week on a three-month debt limit increase is good news. However, these incremental agreements do not provide entrepreneurs with a long-term roadmap of how America will pay its debts and reduce its deficit. A lasting solution to our country's fiscal challenges is needed to give small businesses the certainty they need to continue down the road to recovery.
Small Business Majority's recent scientific polling reveals that by a 3:2 ratio small business owners believe there should be a long-term solution to the debt ceiling so the country can pay its bills and politicians can't use the issue to hold the economy hostage to their particular spending priorities, thus threatening the nation's credit rating.
It's imperative that lawmakers work together on a permanent solution so this issue is resolved once and for all. Using it as a political bargaining chip in three months is unacceptable and doesn't relieve the uncertainty small businesses face.
About Small Business Majority
Small Business Majority is a national small business advocacy organization, founded and run by small business owners to focus on solving the biggest problems facing America's 28 million small businesses today. Since 2005, we have actively engaged small business owners and policymakers in support of public policy solutions, and have delivered information and resources to entrepreneurs that promote small business growth and drive a strong, sustainable economy. We are a team of more than 30 working from our 11 offices in Washington, D.C. and 9 states, with a network of more than 45,000 small business owners and more than 2,000 business organizations, along with a formal strategic partnership program of more than 125 business organizations, enabling us to reach more than 500,000 entrepreneurs. Our extensive scientific polling, focus groups and economic research help us educate and inform policymakers, the media and other stakeholders about issues including taxes, healthcare, access to capital, entrepreneurship, workforce development, clean energy and immigration.