The Small Business Administration’s 6,500 workers make up less than half a percent of the entire federal workforce, per CBS News —and that figure is set to shrink. The agency on Friday announced that it planned to cut its workforce by 43%, for an eventual annual cost savings of $435 million. The Wall Street Journal reports the agency grew during the pandemic to facilitate programs like the Paycheck Protection Program, and the cuts will revert it to pre-2020 levels.
The news came as President Trump announced that the SBA would take over the handling of federal student loans from the Department of Education—Trump on Thursday signed an executive order to eliminate that department—saying
How Trump’s Presidency Is Impacting Student Loans And Debt Forgiveness
