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Congresswoman Clarke: Ryan Budget Threatens Small Businesses

Brooklyn, N.Y. – Congresswoman Yvette D. Clarke released the following statement on her concerns that the “Ryan Budget” will undermine the small businesses that are the foundation of our economy, creating almost two-thirds of our jobs.

The budget, released last week by Congressman Paul Ryan, would eliminate nearly $11 billion in resources for small businesses, such as the promotion of trade and other support services, as well as $12 billion in loans from the Small Business Administration that provide owners with financing that would in many instances have otherwise been unavailable. Economists have estimated that these budget reductions would result in the loss of several hundred thousand jobs.

“The owners of small business have an important position in our communities – creating most of our jobs and providing goods and services that contribute to the culture of each neighborhood in our nation and, particularly, in Brooklyn. For generations, small business owners have applied their skills and, with hard work, started their pursuit of the American Dream,” said Congresswoman Clarke, who as a member of the Small Business Committee in the House of Representatives has worked to increase loans to small businesses owned by women and people of color.

“I am disappointed that even as some of my colleagues in Congress are trying to eliminate programs to assist small business owners, they have continued to support enormous subsidies for multi-national corporations and lower taxes for the richest Americans. I believe instead that we will rebuild our economy only when we support the entrepreneurs who are creating jobs in every community in the United States.”

U.S. Representative Yvette D. Clarke is a member of the House Committee on Small Business, Ethics, and Homeland Security, where she is the Ranking Member of the Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies. She represents many neighborhoods in central and southern Brooklyn, NY which include Brownsville, Crown Heights, East Flatbush, Flatbush, Gerritsen Beach, Madison, Midwood, parts of Park Slope and Flatlands, Prospect Heights, Prospect-Lefferts Gardens, Sheepshead Bay, and Windsor Terrace.