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Lawmakers Dither As Clock Keeps Ticking

Apr 08, 2011

Posted by Kristin Oberlander - As budget negotiations continue, the NASE continues to encourage Congress to put aside politics before the self-employed are stuck with the fallout from a government shutdown.

Here is a list of ways micro-businesses will be directly affected by a shutdown:

  • A delay in the processing of tax refunds for those who file by paper. Many small biz owners count on their refunds to put toward their business, though it would not affect those who e-file.
  • Those who contract with larger companies who, in turn, contract with the government, could face delays in payment.
  • Any state program funded by federal money would be delayed or stopped. A small business owner who contracts with the state for these programs would have difficulty getting paid.
  • Businesses that rely on tourism in the areas with national parks or any kind of federally maintained hot spots would suffer.

For more information, visit the following links:
Government Shutdown: FAQs (CNNMoney.com)
Government Shutdown Would Have Wide Ripples (NY Times)
Obama Presses for Overnight Negotiations to Yield Budget Deal, Avoid Shutdown (FoxNews.com)

 

Courtesy of NASE.org
https://www.nase.org/about-us/self-made-nase-blog/self-made/2011/04/08/Lawmakers_Dither_As_Clock_Keeps_Ticking