The Government Shutdown's Economic Impact
The government shutdown is affecting the economy in various ways.
"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:
- inability to close on a six-figure Small Business Administration loan
- still having to pay roughly $20,000 in tariffs
- waiting to receive $10,000 in business tax credits
- 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 impact on his business. The shutdown has frozen key government functions, including lending and processing tax credits.
Author's summary: Shutdown affects economy and businesses.
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