The Government Shutdown's Economic Impact
The government shutdown is affecting the economy, with various businesses feeling the strain.
"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
- delayed launch of 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 noted, highlighting the shutdown's impact on government functions like lending and tax credit processing.
Author's summary: Shutdown affects economy and businesses.
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