Small businesses in the United States have paid over $70 billion in tariffs from March to December 2025, with Massachusetts small businesses contributing an estimated $734 million during that period. This follows a Supreme Court decision that found President Trump did not have the authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA).
Ranking Member Edward J. Markey (D-Mass.) responded to the ruling, stating, “This case was Small Businesses v. Trump, and small businesses won. While big businesses ducked the fight, relying instead on golden gifts and Mar-a-lago memberships to provide access and exemptions, small businesses took on this fight to end the pain on Main Street. Trump bet his economic agenda on an illegal power grab and lost. It is a moral obligation for this administration to return every last cent taken from small businesses by this illegal tax.”
Markey has been active in advocating for relief for small businesses affected by these tariffs. Earlier in February 2026, he released a report outlining how what he called Trump's affordability crisis and related tariffs have impacted main streets and working families across the country. In December 2025, Markey provided state-by-state data showing total tariffs paid by small businesses from March to September 2025.
In November 2025, Markey sent a letter to Small Business Administration Administrator Kelly Loeffler, Secretary of Commerce Howard Lutnick, U.S. Trade Representative Jamieson Greer, and Acting Chair of the Council of Economic Advisors Pierre Yared urging them to establish an equitable tariff refund process for small businesses. That same month, he held a press conference highlighting stories from business owners affected by the tariffs and called on the Supreme Court to strike down those measures.
Markey also introduced legislation aimed at exempting small businesses from certain tariffs and requiring refunds for those who had already paid them. His efforts included introducing the Small Business RELIEF Act in September 2025 and attempting to pass the Small Business Liberation Act earlier that year; both attempts were blocked by Senate Republicans.
The Senate Small Business and Entrepreneurship Committee plays a role in supporting informed decision-making on national fiscal priorities through its work with Congress and oversight responsibilities as outlined on its official website. The committee offers comprehensive policy options regarding federal budget components, contributes to congressional budget processes via resolutions and reconciliation instructions, provides nonpartisan budgetary analysis through oversight of the Congressional Budget Office, and was established under the Congressional Budget and Impoundment Control Act of 1974.
