Small Business Liberation Act
Summary
The bill is currently under consideration in the Senate Committee on Small Business and Entrepreneurship, where hearings have been held. If enacted, it would apply to the more than 34 million small businesses operating in the United States.
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Lifecycle of the Bill
Committee on Small Business and Entrepreneurship. Hearings held.
May 14, 2025
Committee on Small Business and Entrepreneurship. Hearings held.
May 21, 2025
May 21, 2025 · 14:00
Hearings to examine fueling America's manufacturing comeback, including S.305, to authorize small business loans to finance access to modern business software, S.1555, to increase loan limits for loans made to small manufacturers, S.1593, to exempt small business concerns from duties imposed pursuant to the national emergency declared on April 2, 2025, by the President.
Summary
The Senate Committee on Small Business and Entrepreneurship held a hearing on May 21, 2025, to examine three bills aimed at supporting small manufacturers and businesses. S.305, the Small Business Technological Act of 2025, would authorize small business loans to finance access to modern business software and cloud computing services. S.1555, the Made in America Manufacturing Finance Act of 2025, would increase loan limits for small manufacturers under the Small Business Administration's lending programs, raising maximum loan amounts from $3.75 million to $7.5 million for certain loans and from $4.5 million to $9 million for others. S.1593, the Small Business Liberation Act, would exempt small businesses from duties imposed pursuant to the national emergency declared on April 2, 2025, relating to tariffs. The hearing examined legislation with bipartisan support designed to address different challenges facing small businesses. S.305 aims to help small businesses adopt digital tools and technology for operations, payroll processing, and accounting. S.1555 targets small manufacturers specifically, defined as businesses primarily operating in manufacturing sectors with all production facilities in the United States, and includes reporting requirements for job creation and retention. S.1593 addresses tariff impacts on small businesses, with supporters arguing that tariffs pose an existential threat to small business operations. The hearing allowed the committee to gather information on these proposals before deciding whether to advance them. No witnesses were listed for this hearing. The committee's consideration of these bills does not guarantee they will advance to a vote or become law.
