"Ranking Member Markey Denounces Drastic Cuts to Small Business Programs in Trump Budget Proposal"
Summary
A statement dated May 2, 2025 from Ranking Member Edward J. Markey (D-Mass.), released after the Trump administration's Fiscal Year 2026 budget proposal. The release states that the proposal eliminates funding for almost all Small Business Administration entrepreneurial development programs, including Women's Business Centers, SCORE, the State Trade Expansion Program and Veterans Business Outreach Centers. Markey is quoted describing a 33 percent cut to resources that support the nation's 34 million small businesses and the closing of more than 150 Women's Business Centers. He states that SBA's veteran outreach programs, which he says helped 58,000 former members of the military start new enterprises last year, would be cut by 46 percent. The statement calls on Congress to reject the budget proposal.
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Title: Ranking Member Markey Denounces Drastic Cuts to Small Business Programs in Trump Budget Proposal Date: 2025-05-02 Ranking Member Markey Denounces Drastic Cuts to Small Business Programs in Trump Budget Proposal May 2, 2025 (Boston, May 2) - Ranking Member Edward J. Markey (D-Mass.) today released the following statement after the release of the Trump administration’s Fiscal Year 2026 budget proposal that recommends drastic cuts to essential Small Business Administration (SBA) programs. The proposal eliminates funding for almost all entrepreneurial development programs, including Women’s Business Centers (WBCs), SCORE, the State Trade Expansion Program (STEP), and Veterans Business Outreach Centers (VBOCs). “President Trump’s budget proposal starves the Small Business Administration with a draconian 33 percent cut to resources that support our nation’s 34 million small businesses. It eliminates longstanding successful bipartisan programs, such as SCORE mentoring services, and shutters more than 150 Women’s Business Centers that support women entrepreneurs. It eliminates the State Trade Expansion Program that helps small businesses stay competitive and sell their goods abroad, and axes programs that foster our innovation and technology sectors. SBA’s veteran outreach programs, which helped 58,000 former members of the military use their skills to start new enterprises last year, would be cut by 46 percent. “The President’s budget provides no relief for small businesses already feeling the pain from Trump’s misguided tariff policies. After Trump, Elon Musk, and SBA Administrator Loeffler hit small businesses with cuts, chaos, and corruption during the Administration’s first 100 days, the last thing small business owners need now is more pain on Main Street. Congress must act and reject Trump’s budget proposal.” ### Permalink: https://www.sbc.senate.gov/public/index.cfm/2025/5/ranking-member-markey-denounces-drastic-cuts-to-small-business-programs-in-trump-budget-proposal
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