For much of the 20th century, the Democratic Party championed small businesses, making their welfare a central part of its agenda, alongside organized labor. Forty years ago, though, the party shifted course, embracing large corporations on the grounds that they would deliver more for consumers and workers. But that hasn’t happened. Instead, inequality has soared as the number of independent businesses has plummeted.
Today, some political leaders on the left are beginning to fight for small businesses once again. This week in The Nation, Stacy Mitchell and Susan R. Holmberg argue that rebuilding small businesses is crucial to achieving the left's vision of broad prosperity and a thriving democracy. It’s also key to overcoming the Democratic Party’s electoral weaknesses. "If Democrats began to fight for small businesses... they could reconfigure the political map, becoming more competitive in rural areas and heartland cities by defining a politics that knits people together around a vision of freedom from corporate domination." Read the article.
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ICYMI
As Congress stalls on aiding small businesses, our new research finds that cities, counties, states, and community organizations have established more than 800 programs to provide financial assistance to small businesses in the wake of the pandemic. These programs have deployed more than $9.27 billion in grants and loans. They’ve been fast, effective, and responsive to local needs. Yet the funds are running out. We're urging Congress to quickly provide the resources local governments need to do this important work. READ THE POLICY BRIEF.
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NEWS STORIES WE'RE FOLLOWING
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