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Cardin Opposes Trump Cuts to SBA Budget

SBC.Senate.gov
February 10, 2020

(Washington, DC)–U.S. Senate Committee on Small Business & Entrepreneurship Ranking Member Ben Cardin (D-Md.) today issued the following statement on the Trump administration’s Fiscal Year 2021 Budget, which proposes millions in additional loan fee increases on small businesses, as well as severe cuts to the Small Business Administration’s (SBA) critical small business counseling programs: “With women and minorities driving growth in new business formation, SBA needs more resources to address the specific, historic barriers that entrepreneurs from underserved communities face, not fewer. Unfortunately, the administration’s FY2021 Budget, with its 36 percent cut to business counseling programs and millions of dollars in loan fee increases, is just like the last three budgets: bad for business. As we did last year, I call on Congress to once again reject these harmful cuts.”

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