Ranking Member Markey Slams Trump’s Proposed Budget Cuts to Critical SBA Programs

Trump administration cuts SBA budget by 67%, eliminates critical SBA resources for America's small businesses

(Washington, April 3) - Ranking Member Edward J. Markey (D-Mass.) today slammed the Trump administration's drastic cuts to the Small Business Administration (SBA) budget for Fiscal Year 2027 (FY27). Trump's proposed budget continues his ongoing efforts to crash the American economy by eliminating commonsense programs that provide essential resources to small businesses across America.

"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. 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.

"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, lower skyrocketing costs on everything from health care to energy for small business owners, their workers, and their families, and stop his reckless assault on the American economy. Instead, he's decided to triple-down and make Pain Street permanent."

President Trump's proposed FY27 budget makes dramatic changes to SBA and its programs, which would have a devastating impact on America's Main Streets:

• Cuts 67% of funding for SBA.
• Eliminates 15 of the 16 entrepreneurial development programs that provide essential services to nearly 1 million small businesses per year, including historically underserved entrepreneurs such as women and minorities.
• Limits access to SBA loans for small businesses by creating a new fee that will ultimately increase costs for small business borrowers. New limits on SBA lending will only add to the 32% decline in SBA lending through its main lending program (the 7(a) Loan Program) because of Trump's draconian lending restrictions.
• Eliminates funding for the Minority Business Development Agency (MBDA) in an effort to continue Trump's illegal attack on programs that support underserved small businesses.