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Michael Neuwirth
Chief Communications Officer, ASBN
mneuwirth@asbcouncil.org
WASHINGTON - The country's leading small business organizations united today to express their opposition to the attack on voting rights and support the United States Senate passing voting rights legislation using filibuster reform to protect the fundamentals of American democracy.
While the Senate continues to debate voting rights legislation, it is critical to note that business owners' voices in many states are being suppressed, particularly those in communities of color.
Polling shows that entrepreneurs, especially those of color, feel disadvantaged within the political system and want equitable access to the lawmakers and votes that impact their lives and livelihoods. There is a direct link between a functioning and truly representative government and a functioning market economy. Entrepreneurship depends on a democracy in which people know that if they have a good idea to serve a market need and are willing to sacrifice and work diligently, their idea can become a successful, profitable business for themselves, their families, and their communities. The Senate must do its part to protect every eligible American's right to vote and guarantee that election results are respected by passing fair and transparent voting rights legislation.
Failing to pass voting rights legislation that protects our democracy threatens our economy. Allowed to continue, these anti-democracy actions will result in an autocratic government favoring politically-connected special interests that will sap the will of the entrepreneurs who drive our local, state, and national economies.
A national survey shows small business owners are concerned about the state of our democracy and favor expanding voting rights. Business owners need to know that our leaders' concerns and interests are being addressed and not overshadowed by the desires of wealthy elites that use their exorbitant resources to garner direct access to political figures. Passing voting rights legislation is crucial to ensuring small businesses have an opportunity to impact the political process.
Another national survey released last week found that businesses with over 250 employees expressed the same concerns about the state of our democracy and the need for a well-functioning democracy to maintain a stable economy. Respondents to this survey also overwhelmingly supported the passage of voting the Freedom to Vote Act and the John Lewis Voting Rights Advancement Act by amending Senate rules if necessary.
Changing Senate rules to expedite important legislation is neither new nor radical. The body already allows more than 160 types of votes and legislation to pass by a simple majority, including just in the last few weeks bypassing the filibuster rules to pass an increase in the debt ceiling.
Our government has no more important job than protecting the health and stability of our democracy. Failing to use this standard tool to protect the one-person, one-vote foundation of our country would be a foolish adherence to a process that would threaten the long-term health of our economy as well as nearly 250 years of self-determination. Failure to act would be the most alarming and radical course of action.
We stand united in support of immediate Senate passage of the Freedom to Vote Act and the John Lewis Voting Rights Advancement Act.
"I am grateful for business leaders and community voices like the American Sustainable Business Network, Main Street Alliance, Small Business Majority, and the Small Business for America's Future, for speaking up and speaking out against the rampant efforts to take away citizens' freedom to vote," said Senator Jeff Merkley (D-OR). "It shouldn't matter where you live, how much money you have, or the color of your skin--we all deserve the same chance to cast our ballots and know our vote will count. Our small business owners are a driving force of our economy, and their voices should not be overshadowed by string-pulling wealthy elites. I applaud the strong voices within our small business communities for their concerted fight to protect American citizens' sacred right to vote."
"A sustainable and just economy needs a strong democracy in which all Americans are able to participate with their votes and their voices. However, American Democracy is under attack in many states across the country," said Thomas Oppel, American Sustainable Business Network Executive Vice President. "Congress has a duty under Section 1 of the Constitution to protect every American's right to vote, but the current Senate filibuster rules clearly stand in the way of Congress protecting our rights. On behalf of the more than 500,000 businesses our collective organizations represent, ASBN has been an outspoken advocate on behalf of the Freedom to Vote Act, For the People Act (S.1) and the John Lewis Voting Rights Advancement Act. We commend House and Senate leadership on their support for a 'carve out' of the filibuster in which the Senate rules would be changed to permit Constitutional issues, such as voting rights, to pass with a simple 51-vote majority. We call on the U.S. Senate to take the needed actions to enable it to be faithful to our Constitution."
"As a Black woman growing up in the south, I understand the power of the vote! Small business voices are critical and must be protected," said Chanda Causer, Co-Executive Director Main Street Alliance. "The Freedom to Vote Act reflects our shared values as Americans, but politics have once again blocked even having a debate on the bill. We need lasting, structural change to reassure small businesses that our democracy is healthy so that we can get to the business of resilient economic recovery. The Senate must do whatever it takes to pass the Freedom to Vote Act."
"Protecting the right to vote for all Americans, especially those who have been marginalized, is critical to creating an equitable path to entrepreneurship and an inclusive economy," said John Arensmeyer, Founder & CEO of Small Business Majority. "Congress must do all that it can to ensure a fair and transparent political system that will give all citizens equal access to voting and allow small businesses to impact the political process. This means creating a carve-out to the filibuster rule to advance critical voting rights legislation."
"It is not a coincidence that the United States has a strong democracy and a thriving entrepreneurial economy that is second to none. The two go together," said Frank Knapp Jr., Co-Chair of Small Business for America's Future. "Small business owners understand that when voting rights are stripped from any of us, we all lose our influence over government actions. Economic prosperity is tied directly to a healthy democracy, and small business owners want Congress to protect both."
On September 8, 2021, small business owners and community organizations participated in a special event with House Majority Whip James E. Clyburn to discuss the need to prevent laws suppressing Americans' voting rights across the country, discuss why voting rights are essential to democracy and entrepreneurship, and learn about the history of the filibuster. To listen to the recording of the September 8 event, visithttps://tinyurl.com/4w86j7xz.
A recording of today's event is available here: https://vimeo.com/664887272
The American Sustainable Business Council (ASBC) advocates for policy change and informs business owners, policymakers and the public about the need and opportunities for building a vibrant, broadly prosperous, sustainable economy. Founded in 2009, its membership represents over 250,000 businesses in a wide range of industries.
(202) 660-1455"If you will not stand down I will be forced to lead an effort to redraw the maps in California to offset the rigging of maps in red states," said Newsom.
Democratic California Gov. Gavin Newsom on Monday put U.S. President Donald Trump on notice that he is not messing around when it comes to plans to ruthlessly redraw his state's congressional districts.
In a letter sent to Trump, Newsom warned that he is ready to take the gloves off should Texas go through with a mid-decade gerrymander that independent analysts have estimated could net Republicans five additional seats in the U.S. House of Representatives.
"You are playing with fire, risking the destabilization of our democracy, while knowing that California can neutralize any gains you can hope to make," he said. "This attempt to rig congressional maps to hold onto power before a single vote is cast in the 2026 election is an affront to American democracy."
Newsom—a likely presidential candidate for 2028—emphasized that he believes congressional maps "should be drawn by independent, citizen-led efforts," but he said that the actions of Texas Republicans were leaving him with little choice.
"If you will not stand down I will be forced to lead an effort to redraw the maps in California to offset the rigging of maps in red states," he said. "But if the other states call off their redistricting efforts, we will happily do the same. And American democracy will be better for it."
Newsom's office followed up this letter by sending a Trump-style all-caps post on X that reiterated the redistricting threat and finished up by writing, "THANK YOU FOR YOUR ATTENTION IN THIS MATTER."
Democratic Texas state lawmakers last week fled the state in order to deny the GOP-led Legislature quorum to vote on a new congressional map that would take a hatchet to many districts currently held by Democratic representatives. Newsom has responded by threatening to undo his state's independent redistricting process through a special ballot initiative this fall so that the California Legislature can redraw the state map with a strong partisan gerrymander.
According to an investigation by Accountable.US, 73% of Trump's net worth may now come from crypto, which his administration is working to dramatically deregulate.
Over his nearly seven months as president, the administration of U.S. President Donald Trump has been taking a sledgehammer to regulations on cryptocurrency. A new report sheds further light on the reasons why.
The president may be profiting far more from his "rapidly-growing crypto empire" than was previously known and has used it to dramatically increase his net worth, according to an investigation released Thursday by the anti-corruption group Accountable.US.
While a report from Bloomberg on July 2 estimated the billionaire president's crypto holdings to total about $620 million of his nearly $7 billion net worth, Accountable examined other investments that had not previously been reported.
"President Trump's net worth," the group estimated, "could roughly be $15.9 billion, with about $11.6 billion in uncounted crypto assets." This would mean crypto accounts for 73% of his net worth.
Accountable reached this number by including investments that either had not yet occurred or were not public at the time of previous reporting.
These included roughly 22.5 billion tokens issued by Trump-owned WorldLiberty Financial Inc., which are estimated to be worth about $2 billion in value, but had not yet become tradable.
Other analyses, it said, also excluded the $7 billion in value of the new $TRUMP memecoins released in late July 2025.
"Two Trump-affiliated companies owned 80% of the $TRUMP venture as of May 2025 and were estimated to have collected over $324 million just in fees since January 2025," the report said.
Accountable also factored the holdings of Trump Media—the company that owns the president's social media app Truth Social. In July, the company bought $2 billion in Bitcoin and reserved another $300 million for Bitcoin options, and also announced the launch of its own set of NFTs.
As part of what they called "Crypto Week," Republicans passed multiple industry-friendly pieces of crypto legislation in July, the GENIUS Act and the CLARITY Act, which Accountable says allow Trump to directly profit.
The GENIUS Act purported to create a regulatory framework for so-called "stablecoins," which are pegged to existing financial assets like the U.S. dollar and are poised to become part of the portfolios of increasing numbers of companies. However, as Nikki McCann Ramirez wrote for Rolling Stone in June:
One of Trump's priorities has been the normalization of these so-called stablecoins — a type of asset that his family is now hawking.
Despite the moniker, stablecoins can be extremely unstable. A 2023 study published by the Bank for International Settlements found that of 60 stablecoins analyzed in their review, all of them had become de-pegged from their underlying asset at least once.
The 2022 crypto crash was triggered by the failure of Terraform Lab's Terra/Luna "algorithmic" stablecoin—the collapse of which saw $45 billion erased in the span of a week.
The bill places only very light regulations on stablecoins, and Sen. Elizabeth Warren (D-Mass.) has warned that since he controls such a large percentage of the stablecoin market, their uptake into the broader economy could "create a superhighway for Donald Trump's corruption."
"As soon as the players understand that Trump's intervention is a real possibility, then the stablecoin market is no longer about a careful review of whether there are adequate dollars to back up a particular stablecoin, or whether the stablecoin issuer has an AAA rating," Warren said.
"Instead, the whole game becomes one of trying to engage the president to weigh the end and make one set of coins more valuable, and therefore another set of coins less valuable," she added. "It's corruption, but it's also a market manipulation that ultimately drains away any development...It undermines all the markets at that point."
But the CLARITY Act, which has been passed by the House and now awaits consideration in the Senate, is "the real prize" for the industry. It would dramatically narrow the Securities and Exchange Commission's (SEC) ability to regulate cryptocurrencies—most notably by recategorizing many assets as commodities instead of securities, which places them under the much smaller and less-resourced Commodity Futures Trading Commission (CFTC).
Trump would be one of the foremost beneficiaries of this bill, which would exclude digital assets like his $TRUMP and $MELANIA "meme coins" from SEC regulation.
It would also likely affect the classification of Bitcoin, which Trump Media has explicitly acknowledged would benefit the president. "If Bitcoin is determined to constitute a security," the company said in a June SEC filing, it could "adversely affect" the price of Bitcoin and the price of Trump Media's holdings.
Not only does this benefit Trump, said Accountable.US executive director Tony Carrk, but the legitimization and entrenchment of these unstable assets has the potential to make the whole economy less stable.
"Eerily reminiscent of the risky behavior that gave us the 2008 financial collapse, Donald Trump is ushering in a new era of casino-like speculation on Wall Street with highly volatile crypto trading in retirement accounts," Carrk said.
"While the Trump family stands to win either way with crypto investment product fees," Carrk added, "throwing such a wild card into the financial system with little to no guardrails could lead to history repeating itself—with everyday Americans footing the bill when things inevitably go south."
Railroad Workers United expressed opposition to any further consolidation of the U.S. rail system—unless it was brought under public ownership.
An inter-union U.S. rail coalition on Monday announced its formal opposition to Union Pacific's $85 billion bid to purchase Norfolk Southern and any other private consolidation of railroad giants, warning that such mergers serve only to enrich investors at the expense of workers, passengers, and communities across the nation.
Railroad Workers United (RWU)'s steering committee adopted a resolution outlining its opposition to the pending Union Pacific (UP)-Norfolk Southern (NS) deal, noting that rail mergers "have more often than not been fraught with inefficiencies, confusion, service disruptions, clogged terminals, staffing shortages, exhausted workers, and general malaise."
RWU "opposes this UP-NS merger as well as any and all takeovers, mergers, or other combinations of the remaining Class One railroads under the current system of private ownership," the resolution states.
"The only further consolidation of the continent's rail system that RWU would support is one that is publicly owned—how most nations' rail infrastructure is owned and operated today—and where the railroad workers are included in all aspects of managing railroad operations," the document concludes.
"Further corporate rail mergers today will do little for rail development but simply line the pockets of Wall Street investors at everyone else's expense."
RWU joins other prominent rail labor leaders and policy experts who have expressed deep concerns about the proposed takeover, which is part of a wave of mergers in the U.S. industrial sector this year under the Trump administration. The UP-NS merger still must receive federal approval.
"If the Union-Pacific-Norfolk Southern merger is approved, BNSF, the other western railroad—owned by Warren Buffett's Berkshire Hathaway—will almost certainly pursue CSX, the other eastern railroad, to avoid being boxed out," Arnav Rao, a transportation policy analyst at the Open Markets Institute, warned in a piece for Washington Monthly last week.
"If the United States is serious about reshoring manufacturing, it cannot afford to let its rail system become a duopoly," Rao added. "Allowing Union Pacific to absorb Norfolk Southern would leave just two national carriers, each with incalculable leverage over customers, workers, and regulators."
The day the merger proposal was announced last month, SMART Transportation Division (SMART-TD)—the largest railroad operating union in the U.S.—said it has "every intention to oppose" the deal, pointing to UP's record of "hostility" toward organized labor, willingness to lay off workers even during good periods for the industry, and "troubling safety record."
In a statement on Monday, RWU called on "all shipping groups, passenger train advocates, environmentalists, and especially railroad workers and our unions to oppose further mergers of rail corporations."
Pointing to the infamous robber barons of the Gilded Age, RWU organizer Matt Weaver said that "such concentration of wealth and power among a handful of men was not a good idea then and it is not a good idea today."
"They had a stranglehold on the economy and the rail workforce," said Weaver. "Further corporate rail mergers today will do little for rail development but simply line the pockets of Wall Street investors at everyone else's expense."