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Trump's Budget: A Low Blow to Black Business Progress
(Washington, DC) – Today, USBC President Ron Busby issued the following statement on the Trump Administration’s FY 2020 Budget:
"After presiding over the longest government shutdown in American history, President Trump is preparing to send yet another low blow to Black-owned businesses and the small business community.
Trump's FY2020 budget proposes to cut vital loan programs and business services that largely benefit Black-owned, women-owned, and businesses owned by people-of-color. Trump's disastrous budget proposes to drastically cut the Small Business Administration's microloan program, decrease business counseling services, and increase loan fees on lenders and borrowers.
This is a recipe for disaster, devastating many small businesses and Black-owned businesses that rely on critical funding and business counseling from the Small Business Administration.
As the voice of the nation's Black business owners, we are unequivocally against Trump's proposed budget cuts and see it as a threat to Black business progress. Black entrepreneurs remain the fastest growing population in the small business community, yet continues to endure a government that stifles small business progress.
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ABOUT THE U.S. BLACK CHAMBERS, INC. (USBC)
The U.S. Black Chambers, Inc. (USBC) provides committed, visionary leadership and advocacy in the realization of economic empowerment. Through the creation of resources and initiatives, we support African American Chambers of Commerce and business organizations in their work of developing and growing Black enterprises. The USBC is an association of more than 100 self-sustaining viable Black Chambers and small business associations nationwide and serves close to 250,000 small businesses. More information can be found at www.usblackchambers.org
US Black Chambers, Inc.
The National Voice of Black Business