Ranking Member Markey Blasts Big, Billionaires’ Bill: Adds to Trump-Caused Pain for Small Businesses

Summary

A May 22, 2025 statement from Washington by Ranking Member Edward J. Markey (D-Mass.), released after House Republicans passed what the statement calls a billionaire tax giveaway package. The statement says that half of the benefits of the so-called small business tax deduction, or 199A, go to the ultra-wealthy, and that the bill will destroy clean energy incentives. It says Markey introduced the Small Business Liberation Act, which would exempt small businesses from tariffs. It also says that on the previous day Markey attempted to pass that bill by Unanimous Consent and that Senate Republicans blocked it.

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Title: Ranking Member Markey Blasts Big, Billionaires’ Bill: Adds to Trump-Caused Pain for Small Businesses
Date: 2025-05-22

Ranking Member Markey Blasts Big, Billionaires’ Bill: Adds to Trump-Caused Pain for Small Businesses

May 22, 2025

(Washington, May 22) - Ranking Member Edward J. Markey (D-Mass.) today released the following statement after House Republicans passed Trump’s billionaire tax giveaway package that provides tax cuts to super wealthy individuals, cuts clean energy programs, and ignores the existing pain for small businesses on Main Street caused by the Trump tariffs.

“The House-passed bill is an assault on working families and businesses everywhere - raising costs across the board, while handing out hundreds of thousands in tax breaks for the wealthy. Small businesses are an afterthought in the Republican tax bill: half of the benefits for the so-called ‘small business tax deduction,’ or 199A, that Republicans seek to expand, go to the ultra-wealthy.

“At the same time, Republicans are allowing enhanced premium tax credits, which helps 3 million small businesses afford health coverage, to expire. The bill will destroy clean energy incentives that are creating 400,000 jobs and spurring $420 billion in investments. It will also cut funding that help small businesses power our clean energy economy. This isn’t ‘one big, beautiful bill’ - it’s a big billionaire sell-out at the expense of our climate, communities, and small businesses.

“Meanwhile, Trump’s tariffs are wreaking havoc on small businesses and raising the cost of living for working families by almost $3,000 annually. That’s why I introduced the Small Business Liberation Act, which would exempt small businesses from Trump’s reckless tariffs. Unfortunately, Republicans blocked our efforts to pass the bill and doubled down on President Trump’s destructive policies for Main Street. It’s utterly shameful that Republicans have chosen to stand on the side of big billionaires, rather than small businesses.”

Ranking Member Markey previously condemned President Trump’s draconian budget cuts, which include eliminating entrepreneurial development programs for America’s small businesses.

Yesterday, Ranking Member Markey attempted to pass the Small Business Liberation Act by Unanimous Consent to provide America’s 34 million small businesses with an exemption from Trump’s reckless tariffs. Senate Republicans blocked the bill, refusing to provide relief to Main Street small businesses. Ranking Member Markey then stood alongside small business owners emphasizing the harm and chaos Trump’s tariffs are inflicting on America’s small businesses.

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Permalink: https://www.sbc.senate.gov/public/index.cfm/2025/5/ranking-member-markey-blasts-big-billionaires-bill-adds-to-trump-caused-pain-for-small-businesses

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