Dem Lawmaker Argues Trump's Tariffs Are 'Literally Killing Our Small Businesses'

Opposition to the CEASE Act

• 🎯 The CEASE Act (HR 2987) aims to place a statutory moratorium on the number of small business lending company licenses issued by the US Small Business Administration.
• 💡 The bill caps the number of SBA 7A non-bank lenders, which could negatively impact the Community Advantage Program.
• ⚠️ This program is crucial for providing loans to small businesses in underserved and rural communities, new businesses, and veteran-owned small businesses.

Impact of Trump's Tariff Policies

• 📈 Small businesses are warning that President Trump's tariff wars are threatening their survival, with some facing closure within weeks or months.
• 📉 Exorbitant tariffs, as high as 145%, and chaotic policy changes create an unsustainable level of uncertainty for business owners.
• 🚫 Small businesses lack the resources to lobby the president for exemptions, unlike larger tech companies.

Congressional Duty and Small Business Support

• ⚖️ Congress has the constitutional power to levy tariffs, but the Republican majority is criticized for ceding power to the president.
• 🗣️ Lawmakers are urged to stand up for small businesses and pass legislation to end the tariff war.
• 📉 The current legislative focus is seen as disregarding the existential threat tariffs pose to the nation's small businesses.