Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement in response to recent actions by President Trump to reduce the workforce at the Minority Business Development Agency (MBDA). This action follows an Executive Order last month to gut the MBDA completely.

“Donald Trump is taking his war on small businesses and vulnerable communities another step further. After his late-night order to eliminate the Minority Business Development Agency, his latest decision to fire roughly 50 employees – leaving the agency to be staffed by one political appointee – is another part of his cruel plan to gut the agency completely. Through a network of local business development centers, the MBDA carries out its mission of supporting the growth and competitiveness of small businesses by providing technical and business assistance, support, and resources. From helping underserved groups access capital and recover from crises to helping businesses stay afloat – especially in groups that have been historically left behind – MBDA staff perform essential functions. As Trump wages his reckless and irresponsible trade war that is already posing serious harm to small businesses, this is yet another blow to the millions of small business owners in America.

“Small businesses are the backbone of our economy. They create millions of jobs and drive economic growth. While Trump ran on lowering costs and building a stronger economy, closures like this only hurt our nation’s economy. Our nation’s small businesses deserve better than the cruelty and recklessness we’ve seen at the hands of the Trump regime. I will continue working with my Democratic colleagues to push back against these actions and fight for the support America’s small businesses deserve.”

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