Small-business owners are bristling over a congressional proposal that would redirect unspent money from COVID-19 programs to provide $10 billion for the federal government’s pandemic health response, including vaccines and therapeutics, the Wall Street Journal reported. At issue is about $5 billion that Congress allocated for three small-business aid programs but which hasn’t yet been spent. Some lawmakers want to repurpose those existing funds for healthcare, rather than allocate new money, because they are increasingly focused on reining in the federal deficit and spending amid a surge in inflation, which is at a 40-year high. Small businesses are facing many challenges, including navigating supply-chain bottlenecks and rising prices. The overall economic recovery from the pandemic-induced downturn is showing continued signs of momentum, but optimism among small businesses deteriorated during March amid concerns about inflation, according to survey data from the National Federation of Independent Business. Congress is set to continue debating the COVID-19 funding measure when it returns from recess later this month. The White House, in March, requested Congress supply $22.5 billion for pandemic-related health needs. Republicans balked at appropriating any new spending. Instead, Senate lawmakers earlier this month negotiated a bipartisan deal that relies on repurposing unused funds to provide $10 billion.
