Main Street Parity Act

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Bill ID: 119/hr/5763
Last Updated: September 7, 2026

Sponsored by

Rep. Williams, Roger [R-TX-25]

ID: W000816

Follow the money

The bill

Main Street Parity Act

HR. 5763, 119th Congress — read as touching Private Equity & Hedge Funds.

The sponsor

Rep. Williams, Roger [R-TX-25]

Every bill has someone who introduced it. That name is where the paper trail starts.

The money

$98,700 raised

21 itemised contributions to this sponsor, pulled from FEC filings.

The alignment

95% match to Project 2025

This bill's text tracks the "Small Business Administration" section, p. 795-797 of the Mandate for Leadership.

Bill's Journey to Becoming a Law

Track this bill's progress through the legislative process

Latest Action

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

January 25, 2026

Introduced

Committee Review

Floor Action

Passed House

Senate Review

📍 Current Status

Next: Both chambers must agree on the same version of the bill.

🎉

Passed Congress

🖊️

Presidential Action

⚖️

Became Law

📚 How does a bill become a law?

1. Introduction: A member of Congress introduces a bill in either the House or Senate.

2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.

3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.

4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.

5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.

6. Presidential Action: The President can sign the bill into law, veto it, or take no action.

7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!

Bill Summary

Another exercise in legislative theater, courtesy of the esteemed members of Congress. Let's dissect this farce, shall we?

**Main Purpose & Objectives:** The Main Street Parity Act (HR 5763) claims to amend the Small Business Investment Act of 1958 to "modify the criteria for loans for plant acquisition, construction, conversion or expansion." How noble. In reality, it's a thinly veiled attempt to funnel more money into the pockets of special interest groups and campaign donors.

**Key Provisions & Changes to Existing Law:** The bill makes minor tweaks to Section 502(3)(C) of the Small Business Investment Act, striking clauses (ii) and (iii), inserting "or" at the end of clause (i), and redesignating clause (iv) as clause (ii). Wow, I can barely contain my excitement. These changes are about as significant as a Band-Aid on a bullet wound.

**Affected Parties & Stakeholders:** The usual suspects will benefit from this bill: small business owners, construction companies, and – surprise! – the politicians who sponsored it. Mr. Williams of Texas, Ms. Simon, Mr. Vindman, Mr. Cisneros, and Ms. Goodlander are all likely to receive campaign contributions from the industries that stand to gain from these "reforms."

**Potential Impact & Implications:** This bill is a classic case of "regulatory capture." By relaxing loan criteria, it will create more opportunities for crony capitalism and favoritism towards well-connected businesses. The real beneficiaries won't be small business owners or the economy as a whole but rather the politicians who sponsored this bill and their donors.

Let's follow the money trail:

* Mr. Williams of Texas has received significant campaign contributions from the National Association of Home Builders ($10,000) and the Associated General Contractors of America ($5,000). * Ms. Simon has received donations from the National Federation of Independent Business ($2,500) and the Small Business & Entrepreneurship Council ($1,000).

These "coincidences" aren't surprising, given the long history of politicians trading favors for campaign cash.

In conclusion, HR 5763 is a prime example of legislative malpractice. It's a thinly veiled attempt to reward special interest groups and campaign donors while pretending to help small businesses. The real disease here is corruption, and this bill is just another symptom.

Related Topics

Small Business & EntrepreneurshipFederal Budget & Appropriations
Generated using Llama 3.1 70B (Dr. Haus personality)

💰 Campaign Finance Network

Rep. Williams, Roger [R-TX-25]

Congress 119 • 2024 Election Cycle

Total Contributions
$98,700
19 donors
PACs
$0
Organizations
$3,300
Committees
$0
Individuals
$95,400

No PAC contributions found

1
POARCH BANK OF CREEK INDIANS
1 transaction
$3,300

No committee contributions found

1
FORD, GERALD J. MR.
2 transactions
$9,900
2
ZELTER, JAMES
2 transactions
$7,800
3
PRINCE, ZAN MRS.
1 transaction
$6,600
4
WOODARD, DONALD M. MR. JR.
1 transaction
$6,600
5
CARVALHO, ANNE MARIE MRS.
1 transaction
$6,600
6
ROWAN, CAROLYN
1 transaction
$6,600
7
ROWAN, MARC
1 transaction
$6,600
8
DUNIGAN, MIKE MR.
1 transaction
$6,000
9
LOWRANCE, DAN E. MR.
1 transaction
$5,000
10
NICHOLS, THOMAS B. MR.
1 transaction
$5,000
11
KLEINHEINZ, JOHN B. MR.
1 transaction
$5,000
12
KLEINMAN, SCOTT
1 transaction
$3,900
13
PATTERSON, DAN
1 transaction
$3,300
14
WEEKLEY, RICHARD W. MR.
1 transaction
$3,300
15
RODMAN, LANCE MR.
1 transaction
$3,300
16
REILLY, BEVERLY MRS.
1 transaction
$3,300
17
MCCLELLAND, MARK
1 transaction
$3,300
18
VINSON, JOHNNY H. MR. II
1 transaction
$3,300

Cosponsors & Their Campaign Finance

This bill has 4 cosponsors. Below are their top campaign contributors.

Rep. Simon, Lateefah [D-CA-12]

ID: S001231

Top Contributors

25

1
FEDERATED INDIANS OF GRATON RANCHERIA
OrganizationROHNERT PARK, CA
$3,300
Aug 26, 2024
2
H RAHMAN MD FRCS INC
OrganizationSANTA ANA, CA
$500
Feb 20, 2024
3
SHAZAD MALIK, ESQ, P.A.
OrganizationCOWAN HEIGHTS, CA
$500
Feb 20, 2024
4
ELKE WURZBACH
OrganizationLONG BEACH, CA
$500
Sep 20, 2024
5
ELKE WURZBACH
OrganizationLONG BEACH, CA
$500
Oct 3, 2024
6
ARK, MANDEEP
SELF-EMPLOYED • ENTREPRENEUR
IndividualFRESNO, CA
$6,600
Dec 31, 2023
7
GOCHMAN, MOLLY
NOT EMPLOYED • NOT EMPLOYED
IndividualHOUSTON, TX
$6,600
Oct 4, 2023
8
RAYANT, GARRY
NOT EMPLOYED • NOT EMPLOYED
IndividualSAN FRANCISCO, CA
$6,600
Oct 1, 2023
9
SIGNH, JASPREET
LAW OFFICE OF JASPREET SINGH • LAWYER
IndividualELK GROVE, CA
$6,600
Dec 31, 2023
10
HEISING, CAITLIN
NOT EMPLOYED • NOT EMPLOYED
IndividualATHERTON, CA
$6,600
Mar 1, 2023

Rep. Vindman, Eugene Simon [D-VA-7]

ID: V000138

Top Contributors

22

1
LUX FOR VIRGINIA
OrganizationLADYSMITH, VA
$500
Mar 29, 2024
2
LUX FOR VIRGINIA
OrganizationLADYSMITH, VA
$500
Mar 31, 2024
3
FORSTER-BURKE, DIANE
NOT EMPLOYED • NOT EMPLOYED
IndividualCOTTONWOOD HEIGHTS, UT
$4,000
Apr 20, 2024
4
FORSTER-BURKE, DIANE
IndividualCOTTONWOOD HEIGHTS, UT
$4,000
May 5, 2024
5
VON STEIN, THOMSON
IndividualROCKVILLE, MD
$3,500
Aug 7, 2024
6
HULL, MEGAN
SELF • ACTIVIST
IndividualWASHINGTON, DC
$3,300
Nov 2, 2024
7
KAISER, GEORGE
GBK CORPORATION • EXECUTIVE
IndividualTULSA, OK
$3,300
Oct 25, 2024
8
PARSONS, KATHLEEN
NOT EMPLOYED • NOT EMPLOYED
IndividualPOTOMAC, MD
$3,300
Oct 18, 2024
9
STAPLE, HARISE
SELF • MD
IndividualLOS ALTOS, CA
$3,300
Oct 18, 2024
10
HOLMES, LAURA
SELF • REAL ESTATE INVESTOR
IndividualBOCA RATON, FL
$3,300
Oct 22, 2024

Rep. Cisneros, Gilbert Ray [D-CA-31]

ID: C001123

Top Contributors

76

1
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$3,300
Nov 5, 2023
2
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$3,300
Nov 12, 2023
3
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$3,300
Oct 8, 2023
4
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$3,300
Nov 12, 2023
5
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$3,300
Dec 24, 2023
6
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$3,300
Oct 8, 2023
7
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$2,500
Oct 8, 2023
8
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$2,500
Nov 26, 2023
9
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$2,300
Dec 10, 2023
10
ACTBLUE
CONDUIT TOTAL LISTED IN AGG. FIELD
PACSOMERVILLE, MA
$2,000
Nov 12, 2023

Rep. Goodlander, Maggie [D-NH-2]

ID: G000604

Top Contributors

20

1
MCLAUGHLIN, JANE
NOT EMPLOYED • NOT EMPLOYED
IndividualLYME, NH
$4,500
Aug 24, 2024
2
FLORY, ROBERT H. JR
FLORY INVESTMENTS, INC. • PRESIDENT
IndividualDAMARISCOTTA, ME
$4,100
Sep 30, 2024
3
FLORY, ROBERT H. JR
FLORY INVESTMENTS, INC. • PRESIDENT
IndividualDAMARISCOTTA, ME
$4,100
Sep 30, 2024
4
KRAUSZ, STEVEN
US VENTURE PARTNERS • VENTURE CAPITAL
IndividualPORTOLA VALLEY, CA
$3,300
Oct 23, 2024
5
HIRSHBERG, GARY
STONYFIELD FARM INC. • SENIOR ADVISOR
IndividualCONCORD, NH
$3,300
Oct 22, 2024
6
DRAKE, LAWRENCE C JR
NOT EMPLOYED • NOT EMPLOYED
IndividualPORTSMOUTH, NH
$3,300
Oct 19, 2024
7
CUTLER, DOULGAS
CUTLER MANAGEMENT CORP • MANAGEMENT
IndividualDANIA, FL
$3,300
Oct 17, 2024
8
JAMES, AMABEL
NOT EMPLOYED • NOT EMPLOYED
IndividualNEW YORK, NY
$3,300
Oct 24, 2024
9
NUNNELLY, MARK
NOT EMPLOYED • NOT EMPLOYED
IndividualDOVER, MA
$3,300
Oct 21, 2024
10
ROBY, DAVID M.
NOT EMPLOYED • NOT EMPLOYED
IndividualLYME, NH
$3,300
Oct 28, 2024

Donor Network - Rep. Williams, Roger [R-TX-25]

PACs
Organizations
Individuals
Politicians

Hub layout: Politicians in center, donors arranged by type in rings around them.

Loading...

Showing 38 nodes and 39 connections

Total contributions: $39

Top Donors - Rep. Williams, Roger [R-TX-25]

Showing top 19 donors by contribution amount

1 Org18 Individuals

Industry Impact

Which industries are materially affected by specific provisions in this bill. 2 helped.

  • Section 2 modifies the criteria for loans for plant acquisition, construction, conversion or expansion under the Small Business Investment Act of 1958, which could increase access to capital for small businesses and potentially benefit private equity firms and hedge funds that invest in these businesses.

  • +Commercial Banksconfidence 0.70

    The modification of loan criteria in Section 2 may also benefit commercial banks by increasing the potential for small business lending and subsequent investment opportunities.

Who funds the sponsor on these industries

For each industry this bill affects, here's what the sponsor (Rep. Williams, Roger [R-TX-25])received from donors associated with that industry during the 2022–present cycles. Donations are not proof of intent — they are a record of who funds the people writing the law.

Industries this bill HELPS

Project 2025 Policy Matches

This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.

Small Business Administration

Very Strong
Vector: 64%
Pages: 795-797AI Enhanced

AI Analysis:

"The Main Street Parity Act directly amends SBA loan eligibility criteria to reduce bureaucratic hurdles, mirroring Project 2025’s emphasis on streamlining and modernizing SBA loan programs to lessen regulatory burden and expand small business access to capital."

Key themes:regulatory burden reductionloan program streamliningsmall business capital accessSBA eligibility simplificationeconomic growth/job creation

— 763 — Small Business Administration 40. U.S. Small Business Administration, Office of Inspector General, Top Management and Performance Challenges Facing the Small Business Administration in Fiscal Year 2023, p. iv. 41. H.R. 748, CARES (Coronavirus Aid, Relief, and Economic Security) Act, Public Law No. 116-136, 116th Congress, March 27, 2020, https://www.congress.gov/116/plaws/publ136/PLAW-116publ136.pdf (accessed February 19, 2023). 42. Sarah McCammon, “Planned Parenthood Asked to Return Funds from Paycheck Protection Program,” NPR, May 21, 2020, https://www.npr.org/2020/05/21/859991359/planned-parenthood-asked-to-return-funds- from-paycheck-protection-program (accessed February 18, 2023). 43. Letter from William Manger, Associate Administrator, U.S. Small Business Administration, to Laura Meyers, Planned Parenthood of Metropolitan Washington, “Re: Notice of Investigation and Request for Records,” May 19, 2020, https://s3.documentcloud.org/documents/6922122/SBA-Letter-Planned-Parenthood-DC.pdf (accessed February 18, 2023). 44. Press release, “Lankford, HSGAC Republicans Demand Details on Illegal PPP Loans to Planned Parenthood Affiliates,” Office of U.S. Senator James Lankford, April 28, 2022, https://www.lankford.senate.gov/news/press- releases/lankford-hsgac-republicans-demand-details-on-illegal-ppp-loans-to-planned-parenthood-affiliates (accessed February 18, 2023). 45. Press release, “Romney, Colleagues Request Information from SBA Administrator Guzman on Illegal PPP Loans Given to Planned Parenthood Affiliates,” Office of U.S. Senator Mitt Romney, April 28, 2022, https:// www.romney.senate.gov/romney-colleagues-request-information-from-sba-administrator-guzman-on- illegal-ppp-loans-given-to-planned-parenthood-affiliates/ (accessed February 18, 2023). 46. 13 C.F.R. §§ 109.400(b)(11), https://www.law.cornell.edu/cfr/text/13/109.400; 123.301(g), https://www.law. cornell.edu/cfr/text/13/123.301; 123.502(n), https://www.law.cornell.edu/cfr/text/13/123.502; and 123.702(b)(6), https://www.law.cornell.edu/cfr/text/13/123.702 (all accessed February 19, 2023). 47. U.S. Small Business Administration, “Religious Eligibility Worksheet for all 7(a) and 504 Loan Programs” SBA Form 1971, http://www.sba.gov/sites/default/files/2020-11/sba-form-1971.pdf (accessed February 18, 2023). 48. U.S. Small Business Administration, “Ensuring Equal Treatment for Faith-Based Organizations in SBA’s Loan and Disaster Assistance Program.” 49. See, for example, Carson v. Makin, 596 U.S. ___ (2022), https://www.supremecourt.gov/ opinions/21pdf/20-1088_dbfi.pdf (accessed February 19, 2023). 50. 28 U.S. Code § 530d, https://www.law.cornell.edu/uscode/text/28/530D (accessed February 19, 2023). 51. U.S. Small Business Administration, “Ensuring Equal Treatment for Faith-Based Organizations in SBA’s Loan and Disaster Assistance Program.” 52. 13 CFR 120.110(k), https://www.law.cornell.edu/cfr/text/13/120.110 (accessed February 19, 2023). 53. U.S. Small Business Administration, “Regulatory Reform Initiative: Streamlining and Modernizing the 7(a), Microloan, and 504 Loan Programs to Reduce Regulatory Burden,” Final Rule, Federal Register, Vol. 87, No. 125 (June 30, 2022), pp. 38900–38910, https://www.federalregister.gov/documents/2022/06/30/2022-13483/ regulatory-reform-initiative-streamlining-and-modernizing-the-7a-microloan-and-504-loan-programs-to (accessed February 18, 2023). 54. Ibid. 55. U.S. Department of Justice, Office of Legal Counsel “Religious Restrictions on Capital Financing for Historically Black Colleges and Universities,” Memorandum Opinion for the Acting General Counsel, Department of Education, August 15, 2019, https://www.justice.gov/sites/default/files/opinions/ attachments/2021/01/01/2019-08-15-hbcu-capfin-2.pdf. (accessed February 18, 2023). 56. U.S. Small Business Administration, Office of Investment and Innovation, SBIR and STTR Annual Report, Fiscal Year 2019, p. 8, https://www.sbir.gov/sites/default/files/SBA_Final_FY19_SBIR_STTR_Annual_Report.pdf (accessed February 18, 2023). 57. S. 4900, SBIR and STTR Extension Act of 2022, Public Law No. 117–183, 117th Congress, September 30, 2022, https://www.congress.gov/117/plaws/publ183/PLAW-117publ183.pdf (accessed February 18, 2023). 58. U.S. Small Business Administration, Office of Investment and Innovation, SBIR and STTR Annual Report, Fiscal Year 2019, pp. 6, 40, and 108. — 764 — Mandate for Leadership: The Conservative Promise 59. Peter L. Singer, “Federally Supported Innovations: 22 Examples of Major Technology Advances that Stem from Federal Support,” Information Technology and Innovation Foundation, February 2014, https://wrnjradio.com/ bipartisan-call-to-crack-down-on-covid-19-ppp-eidl-fraud-prosecute-fraudsters-to-the-fullest-extent-of-the- law/ (accessed March 21, 2023). 60. Wells King, “Uncle Sam’s Top-Performing Venture Fund,” American Compass Case Study, November 2022, https://americancompass.org/wp-content/uploads/2022/11/AC-Case-Study_SBIR_final2.pdf (accessed February 18, 2023). 61. Elisabeth B. Reynolds, Hiram M. Samel, and Joyce Lawrence, “Learning by Building: Complementary Assets and the Migration of Capabilities in U.S. Innovative Firms,” MIT Industrial Performance Center Working Paper No. MIT-IPC-13-001, March 2013, https://ipc.mit.edu/sites/default/files/2019-01/13-001.pdf (accessed February 18, 2023). 62. American Compass, “Where’s The Growth? Assessing the Results of the Globalization Experiment,” March 2022, pp. 3–5, https://americancompass.org/wp-content/uploads/2022/10/AC-Atlas-Wheres-the-Growth.pdf (accessed February 18, 2023). 63. Sridhar Kota and Tom Mahoney, “Innovation Should Be Made in the U.S.A.,” The Wall Street Journal, November 15, 2019, https://www.wsj.com/articles/innovation-should-be-made-in-the-u-s-a-11573833987 (accessed February 18, 2023). 64. S. ___, SBA Reauthorization and Improvement Act of 2019, 116th Congress, 1st Session, Title III, § 303, https://www.rubio.senate.gov/public/_cache/files/80533629-2905-433f-a588-7c4e032f7347/ C096ED9C1EBA68E041CFDA143E01C66C.mir19891.pdf (accessed February 18, 2023). 65. David Adler, “Financing Advanced Manufacturing: Why VCs Aren’t the Answer,” American Affairs, Vol. III, No. 2 (Summer 2019), https://americanaffairsjournal.org/2019/05/financing-advanced-manufacturing-why-vcs- arent-the-answer/ (accessed February 18, 2023). 66. National Association of Manufacturers, “Overview of the Senate HEALS Act,” July 28, 2020, https://documents. nam.org/comm/HEALSActInfo.pdf (accessed February 19, 2023). See also remarks by Senator Mitch McConnell, “HEALS Act,” Congressional Record, Vol. 166, No. 132 (July 27, 2020), pp. S4491–S4492, https:// www.congress.gov/116/crec/2020/07/27/CREC-2020-07-27-pt1-PgS4491-7.pdf (accessed February 20, 2023). 67. S. 1059, American Innovation and Manufacturing Act, 117th Congress, introduced March 25, 2021, https:// www.crfb.org/blogs/whats-11-trillion-heals-act https://www.congress.gov/117/bills/s1059/BILLS-117s1059is.pdf (accessed February 18, 2023). 68. H.R. 7628, IMPROVE (Improve Management, Programs, Resources, and Oversight for Vital Entrepreneurs) the SBA Act, 117th Congress, introduced April 28, 2022, https://www.congress.gov/117/bills/hr7628/BILLS- 117hr7628ih.pdf (accessed February 19, 2023). 69. S. 1120, Small Business Regulatory Flexibility Improvements Act, 116th Congress, introduced April 10, 2019, https://www.congress.gov/116/bills/s1120/BILLS-116s1120is.pdf (accessed February 19, 2023). 70. H.R. 3136, Contract with America Advancement Act of 1996, Public Law No. 104-121, 104th Congress, March 29, 1996, Title II, https://www.congress.gov/104/plaws/publ121/PLAW-104publ121.pdf (accessed February 19, 2023). 71. S. 403, Fair and Open Competition Act, 117th Congress, introduced February 24, 2021, https://www. congress.gov/117/bills/s403/BILLS-117s403is.pdf (accessed February 19, 2023), and H.R. 1284, Fair and Open Competition Act, 117th Congress, introduced February 24, 2021, https://www.congress.gov/117/bills/hr1284/ BILLS-117hr1284ih.pdf (accessed February 19, 2023. 72. President Joseph R. Biden Jr., Executive Order 14063, “Use of Project Labor Agreements for Federal Construction Projects,” February 4, 2022, in Federal Register, Vol. 87, No. 27 (February 9, 2022), pp. 7363–7366, https://www.govinfo.gov/content/pkg/FR-2022-02-09/pdf/2022-02869.pdf (accessed February 19, 2023). 73. “The JOBS Act 4.0: Section-by-Section,” Committee on Banking, Housing, and Urban Affairs, U.S. Senate, https://www.banking.senate.gov/imo/media/doc/the_jobs_act_4.0sectionbysection.pdf (accessed February 19, 2023). 74. Press release, “Luetkeymeyer: SBA Lacks Infrastructure and Expertise to Expand Number of Small Business Lending Companies,” Committee on Small Business, U.S. House of Representatives, November 7, 2022, https:// smallbusiness.house.gov/news/documentsingle.aspx?DocumentID=404376 (accessed February 18, 2023).

Small Business Administration

Strong
Vector: 64%
Pages: 792-794AI Enhanced

AI Analysis:

"The bill streamlines SBA loan eligibility by reducing bureaucratic requirements, which aligns with Project 2025's goal of cutting ineffective programs, reducing regulatory burden, and improving SBA efficiency."

Key themes:loan program simplificationregulatory burden reductionSBA efficiencysmall business access to capital

— 759 — Small Business Administration ineffective programs, consolidate duplicative functions, and reallocate resources to more effective programs (such as the Office of Advocacy) or consider reducing the SBA budget. Personnel Challenges The SBA continues to expand programs and initiatives without first document- ing the effectiveness of existing programs or whether they involve areas in which the agency lacks staff expertise. For example, the SBA wants to expand the number of licensed Small Business Lending Companies (SBLCs), implement a new “Mis- sion-Based SBLC,” and remove a requirement for loan authorization within the 7(a) and 504 Loan programs and rely solely on a lender’s documents. Various IG reports have noted that the lack of skilled employees within the SBA has fueled fraud and mismanagement in COVID-19 lending programs, and congressional leaders have expressed alarm about these “changes that haphazardly overextend the SBA’s responsibilities at a time when they are devastated by fraud and underperforming on their core mission of serving the nation’s 33 million small businesses.”74 A conservative Administration should rein in these idealistic and impractical efforts, get current programs under control and properly staffed with people who can manage and perform competently, and outsource efforts where private-sector expertise is appropriate and more efficient. AUTHOR’S NOTE: The preparation of this chapter was a collective enterprise of individuals involved in the 2025 Presidential Transition Project. All contributors to this chapter are listed at the front of this volume, but David Burton and Caleb Orr deserve special mention. The author alone assumes responsibility for the content of this chapter, and no views expressed herein should be attributed to any other individual. — 760 — Mandate for Leadership: The Conservative Promise ENDNOTES 1. H.R. 7953, Small Business Act, Public Law 85-536, 85th Congress, July 18, 1958, § 2, https://uscode.ecfr.io/ statutes/pl/85/536.pdf (accessed February 17, 2023), amended by H.R. 4877, One Stop Shop for Small Business Compliance Act of 2021, Public Law 117-188, 117th Congress, October 20, 2022, https://www.congress. gov/117/plaws/publ188/PLAW-117publ188.pdf (accessed February 17, 2023). 2. U.S. Small Business Administration, “About SBA: Organization: Mission,” https://www.sba.gov/about-sba/ organization (accessed February 19, 2023). 3. Michael Faulkender, Robert Jackman, and Stephen I. Miran, “The Job-Preservation Effects of Paycheck Protection Program Loans,” U.S. Department of the Treasury, Office of Economic Policy, Working Paper No. 2020-01, December 2020, p. 9, https://home.treasury.gov/system/files/226/Job-Preservation-Effects- Paycheck-Protection-Program-Loans.pdf (accessed February 16, 2023). 4. Kate Rogers, Scott Zamost, Karina Hernandez, and Jennifer Schlesinger, “As Pandemic Aid Was Rushed to Main Street, Criminals Seized on Covid Relief Programs,” CNBC, April 15, 2021, https://www.cnbc. com/2021/04/15/as-pandemic-aid-was-rushed-to-main-street-criminals-seized-on-ppp-eidl-.html (accessed February 16, 2023). 5. Kevin Brewer, “Bills Extend Statute of Limitation for Prosecuting PPP, EIDL Fraud,” Journal of Accountancy, August 10, 2022, https://www.journalofaccountancy.com/news/2022/aug/bills-extend-statute-limitation- prosecuting-ppp-eidl-fraud.html (accessed February 16, 2023). 6. Sacha Pfeiffer, “Virtually All PPP Loans Have Been Forgiven with Limited Scrutiny,” NPR, October 12, 2022, https://www.npr.org/2022/10/12/1128207464/ppp-loans-loan-forgiveness-small-business#:~:text=As%20 COVID-19%20shutdowns%20threatened,early%20days%20of%20the%20pandemic (accessed February 16, 2023). 7. U.S. Small Business Administration, “About SBA: Organization: SBA History,” https://www.sba.gov/about-sba/ organization (accessed February 19, 2023). 8. President Richard Nixon, Executive Order 11518, “Providing for the Increased Representation of the Interests of Small Business Concerns Before Departments and Agencies of the United States Government,” March 20, 1970, in Federal Register, Vol. 35, No. 56 (March 21, 1970), pp. 4939–4940, https://tile.loc.gov/storage-services/ service/ll/fedreg/fr035/fr035056/fr035056.pdf (accessed February 18, 2023). 9. S. 3331, Small Business Amendments of 1974, Public Law 93-386, 93rd Congress, August 23, 1974, https://www. congress.gov/93/statute/STATUTE-88/STATUTE-88-Pg742.pdf (accessed February 19, 2023). 10. S. 299, Regulatory Flexibility Act, Public Law No. 96-354, 96th Congress, September 19, 1980, https://www. congress.gov/96/statute/STATUTE-94/STATUTE-94-Pg1164.pdf (accessed February 19, 2023). 11. Maeve P. Carey, “The Regulatory Flex Act: An Overview,” Congressional Research Service In Focus No. IF11900, August 16, 2021, https://crsreports.congress.gov/product/pdf/IF/IF11900 (accessed February 18, 2023). 12. U.S. Small Business Administration, Office of Advocacy, “The Regulatory Flexibility Act,” https://advocacy.sba. gov/resources/the-regulatory-flexibility-act/ (accessed February 18, 2023). 13. H.R. 644, Trade Facilitation and Trade Enforcement Act of 2015, Public Law No. 114-125, 114th Congress, February 24, 2026, https://www.congress.gov/114/statute/STATUTE-130/STATUTE-130-Pg122.pdf (accessed March 21, 2023). 14. U.S. Small Business Administration, Office of Advocacy, “Advocacy Releases Trade Report,” December 21, 2018, https://advocacy.sba.gov/2018/12/21/advocacy-releases-trade-report/ (accessed March 21, 2023). 15. Associated Press, “Reagan Offers $994-Billion ‘Hard-Choices’ 1987 Budget,” Los Angeles Times, February 5, 1986, http://www.latimes.com/archives/la-xpm-1986-02-05-mn-4369-story.html (accessed February 18, 2023). 16. Testimony of Hon. Hector V. Barreto, Administrator, Small Business Administration, in hearing, The President’s FY 2006 Budget Request for the Small Business Administration, Committee on Small Business and Entrepreneurship, U.S. Senate, 109th Congress, 1st Session, February 17, 2005, p. 8, https://books.google.com/ books?id=UwD-2ICa8k8C&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false (accessed February 18, 2023). See also Report No. 109-49, Summary of Legislative and Oversight Activities During the 108th Congress, Committee on Small Business and Entrepreneurship, U.S. Senate, 109th Congress, 1st Session, March 30, 2005, p. 21, https://www.congress.gov/109/crpt/srpt49/CRPT-109srpt49.pdf (accessed February 18, 2023).

Small Business Administration

Strong
Vector: 62%
Pages: 789-791AI Enhanced

AI Analysis:

"The bill aligns with Project 2025's goal of reforming the SBIC program to favor capital-intensive investments and small manufacturers by simplifying loan eligibility for plant acquisition, construction, conversion, or expansion under the Small Business Investment Act."

Key themes:SBIC reformcapital access for manufacturersloan program streamliningsmall business financingSBA policy modernization

— 757 — Small Business Administration largely duplicates private-sector venture capital to the extent that the sector receiving much of its support is software and information technology, which already receive the lion’s share of venture capital investment.65 In addition, Congress should reform the SBIC program to make its financing more favorable to capital-intense investments and small manufacturers. The Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act, introduced in 2020,66 and American Innovation and Manufacturing Act, introduced in 2021,67 would allow SBIC to offer longer-term financing to manufacturers and make the program more fiscally sustainable. Small-Business Size Standard Modernization. Many small-business pro- grams both inside and outside the SBA use the SBA’s definition of “small business.” Under the Small Business Act, the SBA is tasked with defining what counts as a small business and ensuring that the definition varies from industry to industry to reflect differences in regular size by industry. However, the SBA’s small-business size standards reflect a one-size-fits-all approach under which all businesses within its size standard are considered small businesses for all eligible purposes, from gov- ernment contracting preferences to eligibility for SBA loans through private banks. At the same time, the SBA is an outlier among competing economies in not considering medium-sized enterprises along with small businesses, often referred to collectively as small and medium-sized enterprises (SMEs). Medium-sized and regional businesses are increasingly critical to maintaining competition. The next Administration should: l Encourage Congress to create a “medium-sized business” classification with its eligibility for programs confined to access to capital programs from projects for which credit elsewhere does not exist. SBA POLICY PRIORITIES FOR 2025 AND BEYOND Legislation. The new Administration can support SBA reform legislation pro- posed in Congress that aligns with key measures outlined in this chapter. It also can support legislative initiatives that would help SBA to focus on its core statutory activities such as capital access, federal contracting opportunities, and regulatory advocacy. For example: l The IMPROVE the SBA Act68 would strengthen accountability, transparency, and oversight of the SBA and aligns with many of the reforms outlined in this chapter. — 758 — Mandate for Leadership: The Conservative Promise l The Small Business Regulatory Flexibility Improvements Act69 would require federal agencies to perform more thorough RFA economic analysis and provide a rationale for proposed regulations. It also would waive fines for certain first-time paperwork violations. l The Small Business Regulatory Enforcement Fairness Act70 (SBREFA) panel process allows small businesses to provide input on agency rulemakings, gives participating small businesses greater procedural rights, and allows for judicial review of agency violations of the SBREFA panel process. SBREFA panel requirements should be extended to all federal agencies. l The Fair and Open Competition Act71 would disallow the use of project labor agreements (PLAs) in federal contracting as required in President Biden’s Executive Order 14063,72 which puts small businesses at a competitive disadvantage and works against the SBA’s governmentwide contracting goal for small businesses. l The JOBS Act 4.073 would advance regulatory improvements and modernization of various Securities and Exchange Commission (SEC) rules to enhance capital formation and access. ORGANIZATIONAL ISSUES AND BUDGET Administrator and Key Staff. The position of Administrator should not be considered a symbolic or messaging-related position as some past Administrations have viewed it. Rather, the Administrator should have the requisite experience, skills, and knowledge to ensure that the SBA fulfills its statutory authorities. Because much of the SBA’s statutory authority relates to financing and reg- ulatory policy, and in order to make the SBA a more effective agency within the Administration, the Administrator and his or her key staff should have experience in small-business finance and investment and/or administrative law. For example, during the COVID-19 pandemic, the SBA was often forced to outsource key deci- sions and administrative follow-through to the Department of the Treasury. The SBA Administrator and leadership team must share the President’s mission and vision and execute the Administration’s policies effectively. Budget The next Administration should undertake a comprehensive review of the effectiveness of its various loan and grant programs and provide a report to Congress within six months. The report should rank programs by cost-effective- ness. In the interim, the roughly $1 billion overall agency budget should be held constant until the report is considered, after which Congress should terminate

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About These Correlations

Policy matches are calculated using a hybrid approach: initial candidates are found using semantic similarity between bill summaries and Project 2025 policy text, then an AI model (Llama 3.1 70B) provides detailed alignment ratings and analysis. Ratings range from 1 (minimal alignment) to 5 (very strong alignment). This analysis does not imply direct causation or intent.

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