The Government Shutdown's Economic Impact
The government shutdown is having a widespread impact on the economy, affecting various businesses and individuals.
"The shutdown is stifling our ability to grow,"
said Grant Richardson, founder of Pangea Selections, a wine import company. Richardson is facing difficulties due to the shutdown, including an inability to close on a six-figure Small Business Administration loan.
- Unable to close on a six-figure Small Business Administration loan
- Expected to pay roughly $20,000 in tariffs this month
- Waiting to receive roughly $10,000 in business tax credits for the quarter
- Unable to launch a new product line due to unapproved labels
"The government is still taking money from us, but it's not paying out what it owes,"
Richardson said, highlighting the shutdown's effects on his business. The shutdown has frozen many government functions, including lending and processing tax credits.
Author's summary: Shutdown affects businesses and economy.
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