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White House says during an Extreme Republican Shutdown, American Small Businesses Would Lose Out on More Than $100 Million in Critical Financing Every Day

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During an Extreme Republican Shutdown, American Small Businesses Would Lose Out on More Than $100 Million in Critical Financing Every Day, Florida Small Businesses would lose over $10 Million.

With just one day before the end of the fiscal year, extreme House Republicans are playing partisan games with peoples’ lives and livelihoods and marching our country toward a government shutdown that would have devastating consequences for small businesses and needlessly undermine America’s economic progress. Their partisan approach stands in stark contrast to the Senate’s bipartisan action toward keeping the government open and abiding by the bipartisan budget deal two-thirds of House Republicans voted for just four months ago.

Small Business Administrator Isabella Casillas Guzman, Chairwoman Barragán, Congressman Darren Soto, and Congressman Maxwell Frost hosted a press conference in Orlando to announce historic SBA Latino lending data. Photo by J Willie David, III / Florida National News

An Extreme Republican Shutdown would force the Small Business Administration (SBA) to stop processing new business loans for small businesses. Each weekday the government is shut down, hundreds of small businesses would see their 7(a) and 504 loan applications fail to move forward. That means extreme House Republicans would deny more than $100 million in critical financing to American small businesses every day. These delays can have devastating consequences for small business owners and the communities they support, including losing the ability to purchase critical real estate or equipment, losing out on business deals and opportunities, and being forced into high-interest, price-gouging loans. A shutdown would also make it harder for small businesses to access federal contracting opportunities by halting the processing of applications for nearly all government contracting programs—only months after the SBA announced that the Biden-Harris Administration had awarded a record $163 billion in contracts to small businesses in Fiscal Year 2022. And an Extreme Republican Shutdown would close SBA’s district offices, preventing more than 2,000 Americans every day from receiving assistance.

During the first two years of the Biden-Harris Administration, Americans filed more than 10.5 million applications to start new small businesses, the two strongest years on record—part of the President’s Bidenomics agenda to grow the economy from the middle out and the bottom up.

The reason this critical support for small businesses is now at risk: extreme House Republicans’ relentless efforts to slash funding for vital programs—including those that help small businesses—rather than work in a bipartisan manner to keep the government open and address emergency needs for the American people. House Republicans have turned their backs on the bipartisan budget deal that two-thirds of them voted for just a few months ago and instead proposed a continuing resolution (CR) that would make devastating cuts to programs that millions of hardworking Americans count on—including to the Small Business Administration.

Below is a state-by-state estimate of the more than $100 million in financing that small businesses would lose out on every day during an Extreme Republican Shutdown:

StateAverage Small Business Financing Delayed Each Business Day[1]
Alabama$985,300
Alaska$334,000
Arizona$3,175,300
Arkansas$666,700
California$22,465,000
Colorado$3,796,100
Connecticut$1,175,000
Delaware$219,100
District of Columbia$245,100
Florida$10,331,700
Georgia$5,494,100
Hawaii$147,600
Idaho$1,136,800
Illinois$5,246,700
Indiana$2,495,600
Iowa$933,100
Kansas$791,400
Kentucky$766,600
Louisiana$1,163,300
Maine$498,600
Maryland$1,480,300
Massachusetts$2,198,500
Michigan$3,772,900
Minnesota$3,677,600
Mississippi$526,900
Missouri$2,054,600
Montana$513,200
Nebraska$764,200
Nevada$1,465,200
New Hampshire$715,200
New Jersey$3,433,800
New Mexico$616,100
New York$5,589,200
North Carolina$3,353,800
North Dakota$382,100
Ohio$4,627,400
Oklahoma$1,304,300
Oregon$1,985,400
Pennsylvania$3,963,500
Rhode Island$392,500
South Carolina$1,631,000
South Dakota$449,100
Tennessee$1,484,100
Texas$12,658,400
Utah$3,069,000
Vermont$200,400
Virginia$2,122,200
Washington$3,780,600
West Virginia$246,300
Wisconsin$3,027,800
Wyoming$268,800

US NATIONAL NEWS

FIFA Explains Legal Basis for Suspending Folarin Balogun’s One-Match Ban

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ZURICH, Switzerland (FNN NEWS) — The Chairperson of the FIFA Disciplinary Committee has issued a detailed statement explaining the legal basis for the committee’s decision to suspend the implementation of the automatic one-match suspension imposed on United States forward Folarin Balogun following his red card during the FIFA World Cup 2026.

The statement comes after questions surrounding Balogun’s eligibility for the United States’ Round of 16 match against Belgium.

Red Card Incident

During the July 1 FIFA World Cup 2026 match between the United States and Bosnia & Herzegovina, Balogun was sent off in the 64th minute for serious foul play following a Video Assistant Referee (VAR) review.

After the match, Balogun returned to the field to celebrate with teammates despite having been expelled.

Disciplinary Proceedings

On July 2, FIFA opened disciplinary proceedings against Balogun for potential violations of:

  • Article 66 of the FIFA Disciplinary Code, relating to expulsion and the automatic suspension following a red card.
  • Article 14, concerning player misconduct related to his post-match celebration after being sent off.

On July 5, the FIFA Disciplinary Committee found Balogun guilty of both violations.

Sanctions Imposed

The committee imposed:

  • A one-match suspension, suspended on probation for one year.
  • A USD 40,000 fine.
  • Joint liability for payment of the fine by the United States Soccer Federation under Article 6.5 of the FIFA Disciplinary Code.

The fine was evenly divided between the two violations.

Why Balogun Was Eligible to Play

The committee emphasized that it did not overturn the referee’s red-card decision.

Instead, it upheld the automatic one-match suspension required under Article 66.4 of the FIFA Disciplinary Code and Article 10.5 of the FIFA World Cup 2026 Regulations.

However, exercising its authority under Article 27 of the FIFA Disciplinary Code, the committee suspended the implementation of that sanction for a probationary period of one year.

As a result, Balogun was eligible to play immediately rather than serve the suspension in the United States’ next World Cup match.

Should Balogun commit another offense of similar nature and seriousness during the probationary period, the suspended one-match ban would automatically take effect in addition to any new disciplinary sanctions.

Committee Cites Independent Authority

The Chairperson stressed that FIFA’s judicial bodies operate independently under the FIFA Statutes and the FIFA Disciplinary Code.

According to the statement, committee members satisfy the independence requirements established under FIFA Governance Regulations to ensure impartial decision-making.

Use of Article 27 Is Not New

The committee also rejected criticism that the decision created a new precedent.

According to the statement, Article 27 expressly allows FIFA’s disciplinary bodies to suspend implementation of disciplinary sanctions in cases that do not involve match manipulation.

The Chairperson noted that the provision has been used previously during FIFA World Cup 2026 qualifying competitions.

The committee further stated that neither the FIFA Disciplinary Code nor the FIFA World Cup Regulations prohibit applying Article 27 to an automatic red-card suspension.

Comparison to Other Competitions

The statement also pointed to disciplinary practices across many UEFA-affiliated domestic leagues, where governing bodies routinely review and overturn red cards after matches.

The committee argued that temporarily suspending the implementation of a sanction authorized by FIFA regulations is an even more limited remedy because the referee’s decision remains unchanged.

The Chairperson concluded that the committee’s decision complied with Articles 25 and 27 of the FIFA Disciplinary Code and was based on the specific facts, evidence and circumstances surrounding the incident.


Key Points

  • July 1: Balogun sent off against Bosnia & Herzegovina after VAR review.
  • July 2: FIFA opens disciplinary proceedings.
  • July 5: Committee finds Balogun guilty of two disciplinary violations.
  • One-match suspension imposed but suspended for one year on probation.
  • USD 40,000 fine issued.
  • U.S. Soccer jointly liable for payment.
  • Red card stands; only implementation of the suspension was deferred.
  • Balogun remained eligible to play against Belgium.
  • FIFA says Article 27 expressly authorizes suspending implementation of disciplinary sanctions.

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Politics

Vice President JD Vance to Visit Milwaukee, Discuss Trump Administration’s Anti-Fraud Efforts

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WASHINGTON (FNN NEWS) — Vice President JD Vance will travel to Milwaukee, Wisconsin, on Wednesday, July 8, 2026, where he is scheduled to deliver remarks on the Trump administration’s efforts to combat fraud, according to a White House press release.

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Politics

President Trump Launches Trump Accounts with NYSE, Nasdaq Opening Bell Ceremony from Oval Office

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NEW YORK (FNN NEWS) — President Donald Trump marked the official launch of Trump Accounts on Monday by participating in a first-of-its-kind opening bell ceremony for both the New York Stock Exchange and Nasdaq from the Oval Office.

The event celebrated the rollout of the investment account program established under the Working Families Tax Cuts Act, which the Trump administration says is designed to help eligible American children build long-term wealth through tax-advantaged investment accounts.

Investment Accounts for American Children

According to the White House, Trump Accounts are available to U.S. citizens under the age of 18. Children born between Jan. 1, 2025, and Dec. 31, 2028, will automatically receive a $1,000 federal seed investment, while families and eligible contributors may make additional investments over time.

The administration said more than six million Trump Accounts have already been requested, with more than 86% of requests coming from families earning less than $200,000 annually.

President Trump Highlights Economic Opportunity

During the ceremony, President Trump said the accounts are intended to allow children to benefit from long-term economic growth.

“With the ringing of the opening bell for the stock market, Trump Accounts will now begin to grow right along with our booming economy,” Trump said. “Between individual contributions and the seed funds, $800 million in new capital will be invested in the stock market for America’s children this week.”

Business and Government Leaders Voice Support

Several business executives and administration officials participated in the announcement, including:

  • Treasury Secretary Scott Bessent
  • Michael Dell, founder and CEO of Dell Technologies
  • Adena Friedman, CEO of Nasdaq
  • Lynn Martin, president of the New York Stock Exchange Group
  • Jeffrey Sprecher, CEO of Intercontinental Exchange
  • Brad Gerstner, chairman and CEO of Altimeter Capital
  • Ted Cruz

Treasury Secretary Bessent said the initiative is intended to expand access to financial markets for American families.

Michael Dell encouraged additional companies to participate by contributing to employees’ children’s accounts.

Private-Sector Participation

The White House announced that philanthropists Michael and Susan Dell are supporting the initiative and said more than 50 companies have committed to making contributions to Trump Accounts for the children of their employees.

Administration officials described the initiative as part of a broader effort to encourage savings, investing and long-term wealth creation for future generations.

The announcement comes as the United States continues events commemorating the nation’s 250th anniversary, with administration officials describing Trump Accounts as an investment in America’s next generation.

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