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Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) released the following statement in response to President Trump’s 2020 Budget request:

           “The President’s Fiscal Year 2020 budget raises serious red flags for small businesses. The President is proposing a 5 percent cut to the Small Business Administration, doing so by reducing funds to proven entrepreneurial development initiatives.  At the same time as it seeks to enact these cuts, the budget also would raise fees on small businesses that access capital through the SBA.  Taken together, these actions will put critical resources out of reach for entrepreneurs.

           “Furthermore, I remain deeply concerned over the fiscal irresponsibility of a budget that would not balance for at least fifteen years and fails to adequately address the deficit racked up by this Administration’s corporate tax giveaway.

          “Instead, the Administration should be advancing America’s small business sector by bolstering investments in the Small Business Administration and ensuring that the needs of Main Street are well addressed in any spending deal. This budget proposal falls well short of this objective.”

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