Impact of Inflation on Small Businesses under President Biden

SOURCE thehill.com
Under President Biden, inflation has hit 20 percent, leading to a cost-of-living crisis with grocery prices up by nearly one-third and gas by 50 percent. Small businesses are struggling due to increased costs, credit crunch, and crime, with potential tax hikes looming.

Key Points

  • Inflation under President Biden has hit 20 percent
  • Cost of living crisis with grocery prices up by nearly one-third and gas by 50 percent
  • Small businesses struggling due to increased costs, credit crunch, and crime
  • Potential tax hikes looming under Biden administration