(Washington D.C.) Iowa U.S. Senator Joni Ernst has been in Iowa over the past couple of weeks as part of her yearly 99-county tour. The Red Oak Republican spoke at a hearing with the Small Business Administration.
Ernst says many small business owners are struggling from the impacts of inflation and supply chain issues.
On February 10, Senator Ernst will introduce the price act requiring all proposed spending to include a report detailing the impact on inflation and household incomes to provide American families the stability they need.
Ernst asked Mark Madrid from the SBA what they are doing to help small businesses navigate these escalating prices, to prevent those higher prices from being passed along to consumers.
Madrid says the Biden administration is opening more ports with more input, specifically small business owners.
According to his latest survey, Creighton Professor Ernie Goss says the prolonged pandemic is dragging down vital sectors of the economies in Iowa and the Midwest. The economist says 87-percent of business leaders in Iowa and eight other states say they are dealing with transportation slowing down production. More than one-third of these supply managers expect the situation to worsen, while 12-percent of the business owners expect improvements.
