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Businesses Condemn Trump Budget as Anti-Business

For Immediate Release: 
May 23, 2017

“This budget is actually anti-business, if by ‘business’ you mean companies with employees and sales in the U.S.”

Contact Info
Bob Keener
ASBC
617-610-6766

WASHINGTON, D.C. (May 23, 2017)—The American Sustainable Business Council (ASBC), which has a national network of members representing over 250,000 businesses, released statements condemning the Trump Administration’s federal budget proposal released today. The following may be attributed to David Levine, Co-founder and CEO of ASBC:

“This budget is actually anti-business, if by ‘business’ you mean companies with employees and sales in the U.S. that want to remain viable long-term. The proposal would undermine consumer spending. It would boost tax breaks for U.S. multinationals. It would slash important regulations rather than investing in resources for small businesses. It would further increase healthcare costs for many employees and companies. And it would accelerate climate change, which is a strategic risk for most businesses. In summary, the budget fails to help America’s working families and small businesses.”

Taxes:
“President Trump's budget proposes massive tax cuts for the top brackets and U.S. multinational companies, making a bad system much worse. Every dollar that goes to ordinary Americans generates many more dollars of economic activity. Tax cuts to wealthy individuals and giant corporations do not.

Climate Change and Environmental Protection:
“The Administration’s proposed budget cuts will seriously impair America’s global competitiveness, while China and the EU ramp up their commitments to a low-carbon future. As a result, American businesses will lose market share, thus depressing domestic job growth. The proposed cuts to EPA and DOE put at risk the nation’s water and air resources which thousands of businesses depend upon to operate their companies successfully. The proposed cuts in federal energy R&D, climate mitigation efforts and water quality are extremely short-sighted. They will  impair American innovation, exacerbate the nation’s ability to prepare for the costly effects of climate change, and overburden state and local officials, thus raising business taxes.”

Paid Family and Medical Leave:
“The budget pays lip service to family-friendly workplace policies with a paid leave policy that is weak and inadequate to the needs of millions of American households. We know high-road workplace policies—ones that boost consumer spending and reduce the burden on social safety nets—are not just good for society but the economy as a whole. Yet the Administration’s proposal is far from being comprehensive, leaves out too many people, and has inadequate funding. The Administration’s claim to care about families rings hollow.”

Medicaid:
“The President’s budget would make massive cuts to Medicaid, cutting $610 billion over 10 years. This will result in less healthcare insurance coverage, putting even more strain on businesses. Expensive hospital emergency room visits will skyrocket. Costs for insurance coverage will rise, dampening consumer spending. Far from helping, these cuts would hurt both public health and the economy.”

The American Sustainable Business Council advocates for policy change and informs business owners and the public about the need and opportunities for building a vibrant, sustainable economy. Through its national member network, it represents more than 250,000 business owners, executives and investors from a wide range of industries. www.asbcouncil.org