Democrats’ spending bill will punish these small businesses

By: Karen Kerrigan

Democratic lawmakers are touting a component of their budget bill that would help small business. And indeed, some entrepreneurs will be happy to learn about the $25 billion proposal, which would provide small enterprises with new financing, training, and help with federal contracts. But it’s misleading of legislators to suggest that their massive spending package is small-business-friendly. They are being quiet about other measures that would impact small businesses, such as a provision that would decimate hundreds of biotech startups — cutting their revenues and even forcing some to close their doors. Democrats are still working to include a provision in the spending bill that would impose price controls on drugs. This would empower the federal government to dictate what Medicare pays biopharmaceutical companies for their products. This is supposed to save the federal government money, and thereby help finance the many other programs under the spending bill.

See more in this weeks Boone County Journal