FOR IMMEDIATE RELEASE

Media Contact
Conan Knoll
conan@emccommunications.com
(831) 524-6764



Small business group: Congress sends devastating  bill to president’s desk, ignoring Main Street's real needs

Statement by Small Business for America’s Future Co-chair Shaundell Newsome, Founder, Sumnu Marketing, Las Vegas, Nevada,  on the passage of H.R. 1

Washington, D.C., July 3, 2025– “The House passage today of the reconciled version of H.R. 1 means this fiscally reckless legislation now heads to the president's desk, despite adding a staggering $3.4 trillion to the deficit and cutting healthcare for 17 million Americans. At a time when 80% of small businesses fear a recession, this massive borrowing to fund tax cuts for large corporations and the wealthy will drive up interest rates and crowd out the credit small businesses need to grow. 

“This staggering debt increase compounds the fundamental problems with H.R. 1 that already hurts small businesses through massive healthcare cuts that will strip coverage from millions of Americans and enshrine a tax system favoring large corporations over Main Street. We support helping entrepreneurs, but this bill takes the wrong approach by making permanent the Tax Cut and Jobs Act small business deduction that has failed to help most small businesses expand or hire. Meanwhile, it preserves the enormous corporate tax rate cuts large corporations received under the TCJA. Once again, big business wins while Main Street gets left behind with a massive debt burden for future generations.

“What's worse, this bill devastates healthcare access by slashing more than $1 trillion from Medicaid and failing to extend key subsidies that make coverage more affordable. Small businesses depend on healthy workers and healthcare costs remain among the top concerns for owners, with 90% experiencing steep premium increases in the past year. Yet, about 22 million people, including 5 million small business owners, will see their healthcare costs soar or lose coverage because H.R. 1 failed to extend Affordable Care Act subsidies, according to the Center on Budget and Policy Priorities.

“Small businesses need real solutions—like extended ACA subsidies to make healthcare more affordable, a tax code that actually levels the playing field with large corporations, and responsible fiscal policies that don’t saddle future generations with debt. Congress has failed Main Street by passing this misguided legislation instead of focusing on policies that address our most pressing challenges: healthcare costs, economic uncertainty, and the unfair advantages given to large corporations over Main Street entrepreneurs.

“Congress has sent the president legislation that harms the very businesses that create nearly half of all jobs and drive innovation in every community across America. Small businesses deserve economic policies that help us thrive and compete, not reckless legislation that makes it harder for us to succeed while adding trillions to the national debt.”

To schedule an interview with a representative from Small Business for America's Future, contact Conan Knoll at conan@emccommunications.com or (831) 524-6764.

###

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, visitwww.smallbusinessforamericasfuture.org.