Ranking Member Edward J. Markey criticized the Trump administration’s proposed budget cuts to the Small Business Administration (SBA) for Fiscal Year 2027 in a statement released on April 3. Markey said that these reductions would eliminate key programs and resources for small businesses across the United States.
The issue is significant because millions of small businesses rely on SBA programs for support, especially those owned by women and minorities who face barriers to entry. The Senate Small Business and Entrepreneurship Committee supports informed decision-making on national fiscal priorities, according to the official website.
"Once again, the Trump administration is showing that it is actively working against America’s 36 million small businesses. Trump’s proposed cuts to the SBA are a nightmare for Main Street. Trump and Administrator Loeffler have chosen to eliminate resources that help make the American dream a reality for all, especially for those who face barriers to entry and endure discrimination, such as women and minority entrepreneurs," Markey said in his statement. He continued: "This administration is taking an axe to the federal resources and funding that helps small businesses grow and thrive. And this administration refuses to listen when Main Street says they’ve had enough of Trump’s reckless economic policies, turning Main Street into Pain Street."
According to Markey, President Trump's FY27 budget proposal would cut 67% of SBA funding, eliminate most entrepreneurial development programs serving nearly one million small businesses annually—including services targeting underserved groups—and limit access by introducing new fees on loans while restricting lending through major SBA loan programs. The proposal also seeks to end funding for the Minority Business Development Agency.
The Senate Small Business and Entrepreneurship Committee offers Congress comprehensive policy options on federal budget components, according to its official website. The committee contributes recommendations through resolutions and reconciliation instructions as part of its role in congressional budgeting processes.
The committee was established through the Congressional Budget and Impoundment Control Act of 1974 according to its official website. It provides nonpartisan analysis by overseeing activities like those conducted by the Congressional Budget Office.
Markey concluded his remarks with: "If Trump actually cared about America’s small businesses, he would fully fund the commonsense, bipartisan programs that give all entrepreneurs a shot at the American dream... Instead, he’s decided to triple-down and make Pain Street permanent."
