Small business owners want to know how Republican presidential candidates at Wednesday’s primary debate intend to counter Bidenomics, Job Creators Network president Alfredo Ortiz writes in an op-ed in The Hill.
Ortiz writes:
Bidenomics has caused historic and persistent Bidenflation that has hit small businesses and their customers especially hard. Since Biden took office, prices of goods and services have increased by 17 percent, food has risen by 20 percent and prices at the pump are up by more than 50 percent. The average household is spending nearly $1,000 more per month. According to JCNF’s latest SBIQ poll of national small businesses, inflation is by far the biggest concern respondents face. They want to hear how candidates would slay Bidenflation.
The Federal Reserve’s aggressive interest rate hikes have moderated inflation but have simultaneously curtailed access to credit, preventing many small businesses from surviving and thriving. Rate hikes have disproportionately hurt small banks that make 60 percent of all small business loans. Several banks have been forced to close, and many more have had their financial outlooks downgraded. Small businesses want to hear about how the candidates would increase access to credit needed on Main Street.
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