While the Biden administration's small business budget references environmental initiatives more than 20 times, it makes no mention of inflation's impact on businesses—a contrast that Republican lawmakers say shows a disconnect between the White House and American voters.
The Small Business Administration's 2023 budget proposal, which the White House in March submitted to Congress for approval, lists the "climate crisis" as an agency priority, requesting $10 million toward environmental initiatives such as the replacement of federal government vehicles with zero-emission cars. The request, meanwhile, makes no mention of rising consumer prices, which in March hit a four-decade high of 8.5 percent—even as recent polling shows inflation is a top concern for business owners. Four out of five small business owners say their companies have "suffered" from inflation, according to an April Goldman Sachs report.
Sen. Joni Ernst (R., Iowa), a member of the Senate Small Business Committee, said the budget is "out of touch with America and reality."