Updated: February 28, 2021
A new survey from CNBC says 63% of small business owners support President Biden’s American Rescue Plan. According to the survey results, 46% of Republican small business owners are supportive of the plan.
The findings come as confidence among small business owners declines, and only “37% of Black small business owners say they can survive more than a year under current conditions.”
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President Biden knows the stakes have never been higher for small businesses. That’s why he is calling on Congress to act urgently and pass the American Rescue Plan. The American Rescue Plan will allow the federal government to ramp up vaccinations, testing, and public health capacity so we can get the virus under control, get relief and support to the families, communities, and businesses that have been hit hardest by the pandemic, and revive economic growth.
This new CNBC report echoes the concerns of the majority of American’s and a long list of economists and economic organizations urging the benefits of immediate relief including Brookings, Moody’s Analytics, and the Chief Economist of the International Monetary Fund. And a Reuters survey of dozens of economists found that over 90% believed that it would “boost the economy significantly.”
The poll further supports the findings of a similar CBS poll showing 83% of bipartisan support for the plan and a recent Quinnipiac poll showing that 68% of Americans – including majorities of Americans in every region of the country, in rural, suburban, and urban areas – also approve of the plan. It also follows the endorsement of more than 400 more bipartisan mayors across the nation.