In recent legislative developments, Ranking Member Markey has emphasized the need for tariff relief for small businesses. During his opening remarks, he stated, “I am happy we were able to come to an agreement that will provide new opportunities for small businesses to access capital and obtain contracts that will help them grow and create good jobs. However, I want to acknowledge to America’s 34 million small businesses that we are not oblivious to the elephant in the room: the crushing impacts of the Trump Tariffs. So long as the President continues to bandy about the threat of ever-changing retaliatory tariffs, few business owners can safely take on debt or plan for the future.”
Several pieces of legislation have been reported out of committee. The Expanding the Surety Bond Program Act of 2025, introduced by Ranking Member Markey, aims to increase the cap on surety bonds and streamline the application process for the SBA Surety Bond Guarantee Program. This initiative is designed to assist small contractors in accessing various contracts. Jen Earle, CEO of NAWBO, expressed support: “Women business owners across America are using federal government contracts to expand and grow their businesses. NAWBO supports this effort to help grow contracting opportunities for women business owners.”
Ranking Member Markey also secured modifications to the Made in America Manufacturing Finance Act of 2025. This bill raises loan limits for manufacturing loans under certain SBA programs and ensures these loans do not jeopardize existing programs while creating jobs.
The SBA Fraud Enforcement Extension Act introduces a 10-year statute of limitations for violations related to specific grant programs and updates extensions for others.
Lastly, the Rural Small Business Resilience Act mandates full access to disaster assistance for individuals in rural areas affected by disasters.
