Sixty-five percent of small business owners say they will be negatively affected if Congress fails to raise the debt limit, according to a new survey.
"This issue of default with a subsequent recession would drastically have a negative impact on our business personally because it would cause our clients, our customers, to condense their spending," Larkin said. Her company TargetGov helps businesses pursue federal contracts across the country – everything from construction opportunities to cybersecurity, even work cleaning office buildings..
"These survey results make clear that a default would have very negative ramifications for small business owners," said Joe Wall of Goldman Sachs 10,000 Small Businesses Voices."Over the coming weeks, America's small business owners will be looking to Washington for certainty and a sound resolution to the nation's credit crunch."
But Congress appears no closer to reaching a deal than it did in January when Yellen first urged action. House Republicans passed a bill that includes dramatic spending cuts that are dead on arrival in the Senate. The Biden Administration has maintained it would like Congress to pass a clean debt limit bill and spending can be addressed separately.
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