A pro-growth agenda for Main Street
Last week, we observed National Small Business Week — a time to recognize the contributions of small business owners, workers and entrepreneurs across Pennsylvania and the United States.
But these individuals deserve more than recognition. They deserve real support from their government.
Small businesses are the backbone of our economy and the strength of our communities. They’re the employers, the mentors and the community leaders. From sponsoring youth sports teams to donating to local charities, they are the foundation of Main Street and the heart of towns across our commonwealth.
As someone who started out in small business, I understand the challenges entrepreneurs face. I was fortunate to help grow a small business into a larger one, but I never lost that small business mindset. That mindset — what we called the WIT principle: “Whatever It Takes” — is grounded in hard work, accountability and customer service. It continues to guide my work in Congress, where I serve on both the Small Business Committee and the Financial Services Committee.
That work starts with reducing the burden of overregulation. Small businesses don’t have large compliance departments or legal teams to assist them in complying with onerous regulations. Every hour a small business owner spends on paperwork is an hour not spent serving customers or growing their business. That’s why House Republicans and the Trump administration have prioritized rolling back burdensome regulations that never should have applied to small employers in the first place.
We fought to eliminate the Biden administration’s Beneficial Ownership Rule, which would have required small businesses to report sensitive ownership information to the federal government — creating compliance burdens and legal risks without solving any actual problem. We also worked with the Trump administration to stop implementation of the CFPB’s 1071 Rule, which would have required lenders to collect and report extensive demographic and financial data on small business loan applicants — raising costs and potentially limiting access to credit. I’m pleased to see the CFPB plans to repromulgate it.
Beyond regulatory relief, I have introduced targeted legislation to help small businesses better access capital, increase oversight and reduce red tape:
• The Investing in All of America Act expands access to capital in rural and underserved areas by raising the leverage cap for Small Business Investment Companies. SBICs are privately managed investment funds licensed and regulated by the SBA to provide financing to small businesses. By allowing these funds to access more federal backing, we can channel much-needed resources to small manufacturers and startups in communities that are too often overlooked.
• The 7(a) Loan Agent Oversight Act strengthens the SBA’s most widely used lending program by requiring annual reports to Congress on the practices and performance of loan agents. This transparency will help root out bad actors, protect taxpayer dollars and ensure the 7(a) program remains reliable and responsive for the small businesses that depend on it.
• The Regulatory Review Improvement Act requires federal agencies to regularly review existing regulations and evaluate whether they are still needed — specifically weighing their real-world impact on small businesses. Too often, once a regulation is on the books, it stays there indefinitely, even when it becomes outdated, redundant or harmful. This bill would bring accountability and common sense back into the regulatory process.
Tax relief is another critical priority. Through reconciliation — also known as the One Big Beautiful Bill — we are working to extend key provisions of President Donald Trump’s Tax Cuts and Jobs Act.
These include Section 199A, which allows pass-through businesses to deduct up to 20% of their income; bonus depreciation, which encourages reinvestment in equipment and facilities; and the R&D tax credit, which incentivizes innovation in America. These provisions — and the broader tax provisions — must be extended to protect jobs and make America the most competitive place in the world to do business.
Anyone who says this reconciliation package does not help small businesses either doesn’t understand it or is choosing to ignore what’s in it. Simply put, a vote against this tax package is a vote against small business. And while we’re working to reduce regulatory burdens in Washington, Pennsylvania’s executive branch and state agencies must do the same. Other pro-growth states have reformed permitting and modernized regulation — and Pennsylvania should follow their lead to create a more competitive business climate.
While National Small Business Week may be over, the work of supporting our small businesses must continue year-round. That means more than expressions of appreciation — it means advancing smart, pro-growth policies that make it easier to start, operate and expand a business in the United States.
To every entrepreneur, employer and team member in a small business — as well as to every Chamber of Commerce working to support Main Street — thank you for all you do to deliver for America.