Ranking Member Markey, Leader Schumer, Senator Hirono Introduce Legislation to Exempt Small Businesses from the Trump TariffsMasood
05/05/2025
[ Article originally appeared in www.sbc.senate.gov ]
Ranking Member Edward J. Markey (D-Mass.), Senate Democratic Leader Chuck Schumer (D-N.Y.), and Senator Mazie Hirono (D-HI) today introduced the Small Business Liberation Act, legislation that would exempt the more than 34 million U.S. small businesses from the overly broad, reckless global tariffs imposed as a result of the national emergency declared on April 2, 2025, by President Trump. “Trump's Tariffs have devastated America's more than 34 million small businesses. These small businesses have razor-thin profit margins, preventing them from being able to easily adapt like their large business competitors. I’ve heard from small business owners across Massachusetts who have had to curtail operations, increase prices, and are uncertain how they will weather Trump’s chaotic economic whims. Even with the worst of the Trump Tariffs being paused, the threat of their return and the blanket tariffs have real costs for real people,” said Ranking Member Markey. “While President Trump is more concerned about providing relief to billion-dollar tech giants, we must provide relief to our struggling small businesses. My legislation would liberate small businesses from the obliteration President Trump wants to create. Small businesses are the economic heart of our communities, and they deserve better.” “Small businesses are the backbone of our country – Senate Republicans should grow one and defend them,” said Leader Schumer. “President Trump’s trade war is economic arson—and America’s small businesses are getting scorched. Trump’s Tariff Tax is jacking up prices, smashing supply chains, and forcing small shops to raise costs or lay people off. While Trump has been busy helping billionaires, Main Street pays the price. Trump has given access to corporate CEOs and his big donors to voice their concerns about the tariffs while not caring one iota about the devastation his tariff tax is causing for small business owners that are the lifeblood of our communities. That is unacceptable and today, Senate Democrats are giving a platform for small businesses to voice loud and clear the many ways in which Trump is hurting them and their workers, and we are taking action with legislation to exempt small businesses from Trump’s destructive tariffs. Protecting small businesses is not a partisan issue, it is a national priority.” “As Trump’s tariffs create chaos and drive up prices for small businesses and entrepreneurs, as well as their customers, businesses in Hawaii and across the country face an existential threat,” said Senator Hirono. “I’m proud to join Leader Schumer and Ranking Member Markey in introducing this legislation to support American businesses and shield them from the fallout of these reckless tariffs.” Ranking Member Markey recently wrote to Small Business Administrator Loeffler, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer, calling on the Trump administration to exempt U.S. small businesses from the reckless Trump Tariffs, and afford them the same relief that the administration is giving billion-dollar tech giants such as Apple and Google. Previously, Ranking Member Markey, along with Democratic Leader Chuck Schumer (D-N.Y.), and all Democrats on the Senate Small Business and Entrepreneurship Committee wrote to Administrator Loeffler, urging her to take immediate action to address the impacts of Trump’s reckless tariff policies on small businesses.
In April 2025, Ranking Member Markey released a report, “The Trump Tariffs: A Small Business Crisis,” which details the disastrous impacts of Trump’s tariff policies on small businesses across the country. Back To News |
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