At midnight last night, the U.S. federal government officially shut down after a partisan standoff between Democrats and Republicans over congressional spending.
Why it matters: A government shutdown would immediately require federal agencies to cease all non-essential discretionary functions until new funding is approved. Franchise businesses would primarily feel the impact through delays in services, including the halting of most Small Business Administration (SBA) loan approvals and processing.
What’s next: This is the first time the government has shut down since 2018 when it shut down for thirty-five days. View IFA’s statement calling on Congress to come to an agreement here.
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