Small business owners are expressing concern over proposed cuts in the Republican budget reconciliation bill, which could impact Medicaid, the Supplemental Nutrition Assistance Program (SNAP), and Affordable Care Act (ACA) premium tax credits. The letter from Small Business Committee Ranking Member Edward J. Markey, Democratic Leader Chuck Schumer, and Finance Committee Ranking Member Ron Wyden was addressed to Senate Majority Leader John Thune and Finance Committee Chair Mike Crapo.
The lawmakers emphasized that more than 40 percent of small business owners surveyed by Small Business For America’s Future (SBAF) fear these cuts will make it difficult for them to compete with larger companies. They argue that removing these support systems would harm families and stifle economic growth.
“It is no surprise that small business owners across the country do not support Republicans’ health care and nutrition cuts," the lawmakers stated. "7 in 10 small business owners oppose cutting healthcare programs while extending tax breaks for the wealthy."
Senator Markey highlighted the importance of maintaining access to affordable healthcare: “Small businesses cannot afford to be shut out of access to affordable healthcare." He warned that if these programs are cut or allowed to expire, costs will rise for small businesses.
Leader Schumer criticized the GOP plan as detrimental to Main Street businesses: “The GOP plan will destroy Main Street just to give more tax cuts to Wall Street.” Senator Wyden echoed concerns about potential impacts on small businesses struggling with rising costs: “The Republican prescription to cut lifeline health care programs will clobber small businesses making every ounce of effort.”
Business owners like Shaundell Newsome, Dr. Alexia McClerkin, Dr. Latoya Parker, Doug Scheffel, and Walt Rowen shared their experiences and fears regarding potential program cuts affecting their operations.
The SBAF survey indicated significant reliance on Medicaid, CHIP coverage, or ACA premium tax credits among small businesses. Many expressed opposition to cutting vital healthcare programs in favor of corporate tax breaks.
