FOR IMMEDIATE RELEASE

Media Contact
Janel Knight Trulear
janel@emccommunications.com
(617) 875-6581

Senate Budget Maneuvers Mask $3.8 Trillion Deficit Increase from Billionaire Tax Cuts

Statement by Shaundell Newsome, Founder of Sumnu Marketing in Las Vegas, Nevada and Small Business for America's Future Co-Chair on the pending budget reconciliation bill

LAS VEGAS, April 3, 2025 – “The Senate is moving forward with a budget reconciliation bill by using irresponsible gimmicks to get around having to account for the $3.8 trillion in costs of extending tax cuts that cater to large corporations and billionaires but do little to help the small businesses that form the backbone of our economy.

“This deliberate rushed attempt to obscure the fiscal impact of tax cuts for the wealthy is dishonest and leaves us with a ballooning deficit and inadequate debate that threatens to worsen economic inequality. If lawmakers were serious about economic growth, they'd focus on supporting entrepreneurs in those crucial early stages with meaningful tax credits and target loopholes that only benefit large corporations to generate revenue that supports small business programs and prevents harmful cuts to critical services.

"The Tax Cuts and Jobs Act has failed small businesses. Our surveys have repeatedly shown that the majority of Main Street entrepreneurs could not hire new employees, buy new equipment or even pay down debts after the cuts. Instead of rushing through irresponsible and costly tax cuts for large corporations and the wealthy, lawmakers should do the hard work of creating a tax code that helps small business owners succeed and grows our economy.

"The prosperity of our communities depends on the success of small businesses. We urge lawmakers to stop catering to large corporations and billionaires and start listening to the voices of small business owners who create jobs in every community across this country."

To schedule an interview with a representative from Small Business for America’s Future, contact Janel Knight Trulear at janel@emccommunications.com or (617) 875-6581.

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About Small Business for America’s Future
Small Business for America’s Future is a national coalition of small business owners and leaders advocating for policy solutions that promote a thriving, inclusive economy. We work to ensure that lawmakers prioritize the needs of Main Street, advancing a just and equitable economic framework for small business owners, their employees, and their communities. For more information, visit www.smallbusinessforamericasfuture.org.