1071 Repeal to Protect Small Business Lending Act

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Bill ID: 119/hr/976
Last Updated: December 5, 2025

Sponsored by

Rep. Williams, Roger [R-TX-25]

ID: W000816

Follow the money

The bill

1071 Repeal to Protect Small Business Lending Act

HR. 976, 119th Congress — read as touching Commercial Banks.

The sponsor

Rep. Williams, Roger [R-TX-25]

Every bill has someone who introduced it. That name is where the paper trail starts.

The money

$98,700 raised

21 itemised contributions to this sponsor, pulled from FEC filings.

The alignment

85% match to Project 2025

This bill's text tracks the "Small Business Administration" section, p. 792-794 of the Mandate for Leadership.

Bill's Journey to Becoming a Law

Track this bill's progress through the legislative process

Latest Action

Placed on the Union Calendar, Calendar No. 65.

May 5, 2025

Introduced

📍 Current Status

Next: The bill will be reviewed by relevant committees who will debate, amend, and vote on it.

🏛️

Committee Review

🗳️

Floor Action

✅

Passed House

🏛️

Senate Review

🎉

Passed Congress

🖊️

Presidential Action

⚖️

Became Law

📚 How does a bill become a law?

1. Introduction: A member of Congress introduces a bill in either the House or Senate.

2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.

3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.

4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.

5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.

6. Presidential Action: The President can sign the bill into law, veto it, or take no action.

7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!

Bill Summary

Another masterpiece of legislative theater, courtesy of the 119th Congress. Let's dissect this farce, shall we?

The "1071 Repeal to Protect Small Business Lending Act" is a bill that claims to repeal data collection requirements for small business loans under the Equal Credit Opportunity Act. Oh, how noble! They're trying to "protect" small businesses from the horrors of... reporting loan data.

In reality, this bill is a gift to the banking lobby, wrapped in a veneer of concern for small businesses. The real beneficiaries are the financial institutions that will no longer have to bother with pesky compliance costs. It's a classic case of regulatory capture, where industries use their influence to water down or repeal regulations that might actually hold them accountable.

Let's examine the "findings" section, which is essentially a laundry list of talking points crafted by the banking lobby:

* Section 704B of the Equal Credit Opportunity Act imposes data collection and reporting requirements on financial institutions. (Oh no, the horror!) * These requirements have resulted in increased compliance costs for financial institutions. (Boo-hoo, poor banks!) * The regulatory burdens created by these requirements disproportionately impact smaller financial institutions. (Aww, community banks are struggling!)

What's missing from this narrative is any mention of the actual purpose of Section 704B: to collect data on small business lending and identify potential discriminatory practices. You see, the banking lobby doesn't want anyone looking too closely at their lending habits, lest they be forced to confront the possibility that they might be engaging in discriminatory behavior.

The bill's sponsors claim that repealing these requirements will "reduce regulatory barriers" and support greater access to credit for small businesses. What a load of nonsense! This is simply a way to gut regulations that might actually hold banks accountable for their lending practices.

In terms of compliance requirements, the bill is remarkably light on details. It simply repeals Section 704B without providing any guidance on what will replace it or how financial institutions will be expected to comply with new regulations (if any).

As for enforcement mechanisms and penalties, don't bother looking – they're nonexistent. This bill is a free pass for banks to do whatever they want, without fear of reprisal.

The economic and operational impacts of this bill are clear: it will make it easier for banks to engage in discriminatory lending practices, while also reducing transparency and accountability in the financial sector. Bravo, Congress! You've managed to create a bill that's both morally reprehensible and economically disastrous.

In conclusion, HR 976 is a textbook example of legislative malpractice. It's a cynical attempt to gut regulations that might actually hold banks accountable for their actions, all while pretending to "protect" small businesses. Don't be fooled – this bill is a wolf in sheep's clothing, designed to benefit the banking lobby at the expense of everyone else.

Related Topics

Small Business & EntrepreneurshipBanking & Financial Services
Generated using Llama 3.1 70B (Dr. Haus personality)

💰 Campaign Finance Network

Rep. Williams, Roger [R-TX-25]

Congress 119 • 2024 Election Cycle

Total Contributions
$98,700
19 donors
PACs
$0
Organizations
$3,300
Committees
$0
Individuals
$95,400

No PAC contributions found

1
POARCH BANK OF CREEK INDIANS
1 transaction
$3,300

No committee contributions found

1
FORD, GERALD J. MR.
2 transactions
$9,900
2
ZELTER, JAMES
2 transactions
$7,800
3
PRINCE, ZAN MRS.
1 transaction
$6,600
4
WOODARD, DONALD M. MR. JR.
1 transaction
$6,600
5
CARVALHO, ANNE MARIE MRS.
1 transaction
$6,600
6
ROWAN, CAROLYN
1 transaction
$6,600
7
ROWAN, MARC
1 transaction
$6,600
8
DUNIGAN, MIKE MR.
1 transaction
$6,000
9
LOWRANCE, DAN E. MR.
1 transaction
$5,000
10
NICHOLS, THOMAS B. MR.
1 transaction
$5,000
11
KLEINHEINZ, JOHN B. MR.
1 transaction
$5,000
12
KLEINMAN, SCOTT
1 transaction
$3,900
13
PATTERSON, DAN
1 transaction
$3,300
14
WEEKLEY, RICHARD W. MR.
1 transaction
$3,300
15
RODMAN, LANCE MR.
1 transaction
$3,300
16
REILLY, BEVERLY MRS.
1 transaction
$3,300
17
MCCLELLAND, MARK
1 transaction
$3,300
18
VINSON, JOHNNY H. MR. II
1 transaction
$3,300

Cosponsors & Their Campaign Finance

This bill has 10 cosponsors. Below are their top campaign contributors.

Rep. Huizenga, Bill [R-MI-4]

ID: H001058

Top Contributors

10

1
POKAGON BAND OF POTAWATOMI INDIANS
OrganizationDOWAGIAC, MI
$3,300
Dec 11, 2023
2
THALOP LLC
OrganizationINDIANAPOLIS, IN
$1,000
Aug 29, 2024
3
BARREL DOG, LLC
OrganizationHOLLAND, MI
$1,000
Sep 1, 2024
4
NOAH HOMES LLC
OrganizationINDIANAPOLIS, IN
$1,000
Sep 30, 2024
5
THALOP LLC
OrganizationINDIANAPOLIS, IN
$1,000
Sep 30, 2024
6
B&B DAIRY
OrganizationPLAINVIEW, TX
$500
Jul 28, 2024
7
B&B DAIRY
OrganizationPLAINVIEW, TX
$500
Sep 5, 2024
8
STRAIGHT LINE RED ANGUS
OrganizationBANGOR, MI
$250
Jul 23, 2024
9
VAN ANDEL, AMY
THE STEVE AND AMY VAN ANDEL FOUNDATION • EXECUTIVE DIRECTOR
IndividualADA, MI
$75,000
Mar 29, 2024
10
VAN ANDEL, STEPHEN
AMWAY • CHAIRMAN
IndividualADA, MI
$75,000
Mar 29, 2024

Rep. Flood, Mike [R-NE-1]

ID: F000474

Top Contributors

10

1
CHEROKEE NATION
OrganizationTAHLEQUAH, OK
$3,300
Oct 31, 2024
2
DEMOCRACY ENGINE, LLC
OrganizationWASHINGTON, DC
$1,919
Jun 24, 2024
3
SUGAR CREEK REALTY
OrganizationSAINT LOUIS, MO
$1,500
Oct 1, 2024
4
DEMOCRACY ENGINE, LLC
OrganizationWASHINGTON, DC
$959
May 28, 2024
5
LAMA COMMUNITY TRUST
OrganizationSAN CRISTOBAL, NM
$833
Jun 26, 2024
6
RADCLIFFE GILBERTSON & BRADY
OrganizationLINCOLN, NE
$500
Oct 20, 2024
7
CASSLING, MICHAEL
CASSLING • CEO
IndividualOMAHA, NE
$13,200
Mar 13, 2023
8
BRADFORD VI, DANA
C3 BRANDS • CEO
IndividualOMAHA, NE
$6,600
Mar 28, 2023
9
HAWKINS JR, FRED
HAWKINS CONSTRUCTION • CONSTRUCTION
IndividualOMAHA, NE
$6,600
May 11, 2024
10
DUGGER, CATHERINE
RETIRED • RETIRED
IndividualOMAHA, NE
$6,600
Oct 21, 2024

Rep. Meuser, Daniel [R-PA-9]

ID: M001204

Top Contributors

10

1
PRIDE MOBILITY PRODUCTS CORP
OrganizationDURYEA, PA
$2,500
Sep 18, 2024
2
COTLER, YUDACUFSKI, HUEBNER
OrganizationSAINT CLAIR, PA
$1,000
Apr 23, 2024
3
DOWD, JOHN J
SUNDANCE VACATIONS • PRESIDENT
IndividualLEHIGHTON, PA
$6,600
Mar 25, 2024
4
PEYKOFF, ANDY
NIAGARA BOTTLING, LLC • CEO
IndividualLAS VEGAS, NV
$6,600
Mar 22, 2024
5
DOWD, JOHN J
SUNDANCE VACATIONS • PRESIDENT
IndividualLEHIGHTON, PA
$6,600
Sep 18, 2024
6
ROWAN, MARC J
APOLLO MANAGEMENT • MANAGEMENT
IndividualGREENWICH, CT
$6,600
Aug 23, 2023
7
ROWAN, CAROLYN
CAROLYN ROWAN COLLECTION • OWNER
IndividualGREENWICH, CT
$6,600
Aug 23, 2023
8
RICH, BRIAN R MR. JR
GILBERTON COAL CO. • EXECUTIVE SALES
IndividualCONSHOHOCKEN, PA
$6,600
Oct 24, 2024
9
VOLPE, ELLEN M
SELF • HOMEMAKER
IndividualWAVERLY TOWNSHIP, PA
$5,800
May 31, 2023
10
VOLPE, CHARLES J
EXCALIBUR INSURANCE MGMT • PRESIDENT
IndividualWAVERLY TOWNSHIP, PA
$5,800
May 31, 2023

Rep. Wagner, Ann [R-MO-2]

ID: W000812

Top Contributors

10

1
OTOE MISSOURIA TRIBE
OrganizationRED ROCK, OK
$3,300
Aug 23, 2023
2
DEMOCRACY ENGINE, INC., PAC
OrganizationWASHINGTON, DC
$2,000
Jul 14, 2023
3
DEMOCRACY ENGINE, INC., PAC
OrganizationWASHINGTON, DC
$500
Mar 15, 2023
4
WINRED
OrganizationARLINGTON, VA
$9
May 9, 2024
5
WILHELM, MARK A MR.
SAFETY NATIONAL CASUALTY CORP. • CHAIRMAN & CEO
IndividualSAINT LOUIS, MO
$13,200
Dec 18, 2023
6
DRURY, TIM M.
DRURY DEVELOPMENT • PRESIDENT
IndividualSAINT LOUIS, MO
$13,200
Feb 27, 2023
7
DANFORTH, JOHN C
DOWD BENNETT LLP • ATTORNEY
IndividualSAINT LOUIS, MO
$13,200
Feb 17, 2023
8
TRACY, RICHARD L. MR.
DOT FOODS, INC. • PRESIDENT
IndividualDES PERES, MO
$13,200
Feb 17, 2023
9
RINEY, RODGER O. MR.
T.D. AMERITRADE • ADVISOR TO CEO
IndividualSAINT LOUIS, MO
$13,200
Mar 23, 2023
10
O'CONNELL, JOHN T.
RETIRED • RETIRED
IndividualSAINT LOUIS, MO
$13,200
Mar 15, 2023

Rep. De La Cruz, Monica [R-TX-15]

ID: D000594

Top Contributors

10

1
CHOCTAW NATION OF OKLAHOMA
OrganizationDURANT, OK
$3,300
Aug 29, 2024
2
THE CHICKASAW NATION
OrganizationADA, OK
$3,300
Aug 29, 2024
3
ALABAMA- COUSHATTA TRIBE
OrganizationLIVINGSTON, TX
$1,000
Oct 16, 2024
4
ADKINS, JAMES
RETIRED • RETIRED
IndividualHUNTINGTON, WV
$6,600
Oct 24, 2024
5
MOUSSEAU, RAYMOND
RETIRED • RETIRED
IndividualCROSWELL, MI
$6,600
Jun 2, 2024
6
DILAMANI, EDWARD
AGC • BUSINESSMAN
IndividualGREAT NECK, NY
$6,600
Jul 8, 2024
7
EMIG, SUELLEN
RETIRED • RETIRED
IndividualFREEDOM, PA
$6,600
Sep 29, 2024
8
STEWART, FORREST
RETIRED • RETIRED
IndividualDESOTO, IL
$6,534
Feb 13, 2024
9
SPECHT, VIVIAN
RETIRED • RETIRED
IndividualLYMAN, NE
$5,940
Aug 7, 2024
10
CERDA, JULIO
S TEXAS INFRASTRUCTURE GROUP • PARTNER
IndividualMISSION, TX
$5,000
Oct 25, 2024

Rep. Nunn, Zachary [R-IA-3]

ID: N000193

Top Contributors

10

1
OTOE MISSOURIA TRIBE OF OKLAHOMA
OrganizationRED ROCK, OK
$3,300
May 29, 2024
2
TURTLE MOUNTAIN BAND OF CHIPPEWA OF ND
OrganizationBELCOURT, ND
$3,300
May 29, 2024
3
SAC & FOX TRIBE OF THE MISSISSIPPI IN IOWA
OrganizationTAMA, IA
$2,500
Dec 31, 2024
4
SAC & FOX TRIBE OF THE MISSISSIPPI IN IOWA
OrganizationTAMA, IA
$1,000
Sep 1, 2023
5
SMITH, JOHN M.
CRST TRUCKING • CEO
IndividualCEDAR RAPIDS, IA
$6,600
Oct 28, 2024
6
SILVERMAN, JEFFREY
RETIRED • RETIRED
IndividualBAL HARBOUR, FL
$6,600
Oct 17, 2023
7
EMMET, RICHARD
JANE STREET CAPITAL • FINANCE
IndividualLARCHMONT, NY
$6,600
Nov 21, 2023
8
WEEKLEY, RICHARD W.
SELF EMPLOYED • REAL ESTATE DEVELOPER
IndividualHOUSTON, TX
$6,600
Nov 7, 2023
9
STERN, ELIZABETH
RETIRED • RETIRED
IndividualSCARSDALE, NY
$6,600
Dec 6, 2023
10
SILVERMAN, JEFFREY
RETIRED • RETIRED
IndividualBAL HARBOUR, FL
$6,600
Feb 15, 2024

Rep. Downing, Troy [R-MT-2]

ID: D000634

Top Contributors

10

1
REPUBLICAN MAINSTREET PARTNERSHIP PAC
PACWASHINGTON, DC
$5,000
Sep 18, 2024
2
BILLION, JOSEPH C
RETIRED • RETIRED
IndividualBOZEMAN, MT
$13,200
Dec 31, 2023
3
BILLION, PEDER J
BILLION DODGE CHRYSLER JEEP RAM • OWNER
IndividualBOZEMAN, MT
$13,200
Dec 31, 2023
4
DURRETT, STEVEN
RETIRED • RETIRED
IndividualBILLINGS, MT
$13,200
May 1, 2024
5
BARNARD, MARY
HOMEMAKER • HOMEMAKER
IndividualBOZEMAN, MT
$6,600
Aug 1, 2024
6
BARNARD, TIMOTHY
BARNARD CONST. CO. • CHAIRMAN
IndividualBOZEMAN, MT
$6,600
Aug 1, 2024
7
GREGORY, JOSEPH R.
IndividualPINEY FLATS, TN
$6,600
Jul 15, 2024
8
PLANTE, THOMAS
RETIRED • RETIRED
IndividualHENDERSONVILLE, TN
$6,600
Sep 10, 2024
9
MENHOLT, DENNY
MENHOLT AUTO GROUP • AUTO DEALER
IndividualBILLINGS, MT
$6,600
Aug 12, 2024
10
GALT, SHARRIE
IndividualMARTINSDALE, MT
$6,600
Nov 1, 2024

Rep. Donalds, Byron [R-FL-19]

ID: D000032

Top Contributors

10

1
SHANNON GREEN COLLECTION
OrganizationNAPLES, FL
$500
Dec 28, 2023
2
NAPLES SMART, LLC
OrganizationNAPLES, FL
$250
Jun 4, 2024
3
COX, JOE B
NELSON MULLINS • ATTORNEY
IndividualNAPLES, FL
$6,600
Dec 30, 2023
4
STALLINGS, KYLE
DESERT ROYALTY COMPANY • FOUNDER/CEO
IndividualMIDLAND, TX
$6,600
Mar 9, 2023
5
ZALIK, DAVID
GOLDMAN SACHS • EXECUTIVE
IndividualMARIETTA, GA
$6,600
Jan 3, 2024
6
ZALIK, HELEN
HOMEMAKER • HOMEMAKER
IndividualATLANTA, GA
$6,600
Jan 6, 2024
7
BAUM, DAVID
ENTREPRENEUR • ENTREPRENEUR
IndividualSANIBEL, FL
$6,600
Feb 13, 2024
8
WALDRIP, EMORY
RETIRED • RETIRED
IndividualNAPLES, FL
$6,600
May 20, 2023
9
MANDELBLATT, DANIELLE
DMM PROPRIETA MANAGEMENT • MANAGER
IndividualASPEN, CO
$6,600
Jun 7, 2024
10
MANDELBLATT, ERIC
SOROBAN CAPITAL PARTNERS LP • MANAGING PARTNER
IndividualASPEN, CO
$6,600
Jun 7, 2024

Rep. Haridopolos, Mike [R-FL-8]

ID: H001099

Top Contributors

10

1
JARNES, LARRY
NORTHBORO BUILDERS INC • BUILDER
IndividualMELBOURNE, FL
$9,900
May 20, 2024
2
FARINELLA, NICK
SELF-EMPLOYED • REALTOR
IndividualMELBOURNE, FL
$3,518
May 6, 2024
3
HILL, KEVIN
RE/MAX ALTERNATIVE • REALTOR
IndividualINDIAN HARBOUR BEA, FL
$3,518
May 6, 2024
4
MOLLEN, JACK
RETIRED • RETIRED
IndividualMELBOURNE, FL
$3,518
May 17, 2024
5
SHOULDERS, KATHY
RETIRED • RETIRED
IndividualINDIAN HARBOUR BEA, FL
$3,518
May 21, 2024
6
SHOULDERS, WILLIAM
HANDEX CONSULTING REMEDIATION • EXECUTIVE
IndividualINDIAN HARBOUR BEA, FL
$3,518
Apr 30, 2024
7
BERRY, JAMES
DELTA AIR LINES • PILOT
IndividualMELBOURNE, FL
$3,435
Sep 10, 2024
8
DANDRIDGE, STEPHANIE
SOTHEBYS • REALTOR
IndividualINDIALANTIC, FL
$3,435
Sep 19, 2024
9
FLACHS, BRUCE
PRESCIENT NATIONAL • INSURANCE
IndividualVERO BEACH, FL
$3,435
Sep 4, 2024
10
MARUMOTO, ALAN K.
UNIVERSITY CENTER IMAGING • PHYSICIAN
IndividualINDIALANTIC, FL
$3,435
Sep 13, 2024

Rep. Lucas, Frank D. [R-OK-3]

ID: L000491

Top Contributors

10

1
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
OrganizationPRIOR LAKE, MN
$1,650
Jun 17, 2024
2
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
OrganizationPRIOR LAKE, MN
$1,650
Jun 17, 2024
3
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
OrganizationPRIOR LAKE, MN
$1,650
Jun 5, 2023
4
GATES, WILLIAM
BREAKTHROUGH ENERGY • PHILANTHROPIST
IndividualREDMOND, WA
$3,300
Oct 19, 2023
5
NATION, CHEROKEE
INDIAN TRIBE • INDIAN TRIBE
IndividualTAHLEQUAH, OK
$3,300
Dec 26, 2023
6
LOVE, GREG
LOVE'S TRAVEL STOPS • CO-CEO
IndividualOKLAHOMA CITY, OK
$3,300
Mar 5, 2024
7
LOVE, GREG
LOVE'S TRAVEL STOPS • CO-CEO
IndividualOKLAHOMA CITY, OK
$3,300
Mar 5, 2024
8
PILLMORE, BRIAN
SELF • BUSINESS OWNER
IndividualYUKON, OK
$3,300
Mar 4, 2024
9
HILLIARY, MEGAN
HILLIARY CUSTOM HOMES • DESIGNER
IndividualLAWTON, OK
$3,300
Aug 1, 2023
10
WILMES, JEFF
WILMES CHEVROLET • AUTO SALES
IndividualALTUS, OK
$3,300
Aug 3, 2023

Donor Network - Rep. Williams, Roger [R-TX-25]

PACs
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Hub layout: Politicians in center, donors arranged by type in rings around them.

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Showing 58 nodes and 36 connections (39 secondary connections hidden)

Total contributions: $134,219

Top Donors - Rep. Williams, Roger [R-TX-25]

Showing top 19 donors by contribution amount

1 Org18 Individuals

Industry Impact

Which industries are materially affected by specific provisions in this bill. 1 helped.

  • +Commercial Banksconfidence 0.90

    Section 3(a) repeals Section 704B of the Equal Credit Opportunity Act, which imposed data collection and reporting requirements on financial institutions regarding small business loans. Section 2 findings state these requirements increased compliance costs for financial institutions, particularly smaller ones like community banks, and that repeal will reduce regulatory barriers and support greater access to credit for small businesses. This directly benefits commercial banks by reducing complian

Project 2025 Policy Matches

This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.

Small Business Administration

Strong
Vector: 65%
Pages: 792-794AI Enhanced

AI Analysis:

"HR 976 seeks to repeal data collection requirements that impose regulatory costs on lenders, aiming to increase small business access to credit—a goal that aligns with Project 2025’s emphasis on reducing regulatory burdens on small businesses and supporting SBA lending initiatives."

Key themes:regulatory burden reductionsmall business lending accessfinancial institution compliance reliefSBA advocacy and reform

— 760 — Mandate for Leadership: The Conservative Promise ENDNOTES 1. H.R. 7953, Small Business Act, Public Law 85-536, 85th Congress, July 18, 1958, § 2, https://uscode.ecfr.io/ statutes/pl/85/536.pdf (accessed February 17, 2023), amended by H.R. 4877, One Stop Shop for Small Business Compliance Act of 2021, Public Law 117-188, 117th Congress, October 20, 2022, https://www.congress. gov/117/plaws/publ188/PLAW-117publ188.pdf (accessed February 17, 2023). 2. U.S. Small Business Administration, “About SBA: Organization: Mission,” https://www.sba.gov/about-sba/ organization (accessed February 19, 2023). 3. Michael Faulkender, Robert Jackman, and Stephen I. Miran, “The Job-Preservation Effects of Paycheck Protection Program Loans,” U.S. Department of the Treasury, Office of Economic Policy, Working Paper No. 2020-01, December 2020, p. 9, https://home.treasury.gov/system/files/226/Job-Preservation-Effects- Paycheck-Protection-Program-Loans.pdf (accessed February 16, 2023). 4. Kate Rogers, Scott Zamost, Karina Hernandez, and Jennifer Schlesinger, “As Pandemic Aid Was Rushed to Main Street, Criminals Seized on Covid Relief Programs,” CNBC, April 15, 2021, https://www.cnbc. com/2021/04/15/as-pandemic-aid-was-rushed-to-main-street-criminals-seized-on-ppp-eidl-.html (accessed February 16, 2023). 5. Kevin Brewer, “Bills Extend Statute of Limitation for Prosecuting PPP, EIDL Fraud,” Journal of Accountancy, August 10, 2022, https://www.journalofaccountancy.com/news/2022/aug/bills-extend-statute-limitation- prosecuting-ppp-eidl-fraud.html (accessed February 16, 2023). 6. Sacha Pfeiffer, “Virtually All PPP Loans Have Been Forgiven with Limited Scrutiny,” NPR, October 12, 2022, https://www.npr.org/2022/10/12/1128207464/ppp-loans-loan-forgiveness-small-business#:~:text=As%20 COVID-19%20shutdowns%20threatened,early%20days%20of%20the%20pandemic (accessed February 16, 2023). 7. U.S. Small Business Administration, “About SBA: Organization: SBA History,” https://www.sba.gov/about-sba/ organization (accessed February 19, 2023). 8. President Richard Nixon, Executive Order 11518, “Providing for the Increased Representation of the Interests of Small Business Concerns Before Departments and Agencies of the United States Government,” March 20, 1970, in Federal Register, Vol. 35, No. 56 (March 21, 1970), pp. 4939–4940, https://tile.loc.gov/storage-services/ service/ll/fedreg/fr035/fr035056/fr035056.pdf (accessed February 18, 2023). 9. S. 3331, Small Business Amendments of 1974, Public Law 93-386, 93rd Congress, August 23, 1974, https://www. congress.gov/93/statute/STATUTE-88/STATUTE-88-Pg742.pdf (accessed February 19, 2023). 10. S. 299, Regulatory Flexibility Act, Public Law No. 96-354, 96th Congress, September 19, 1980, https://www. congress.gov/96/statute/STATUTE-94/STATUTE-94-Pg1164.pdf (accessed February 19, 2023). 11. Maeve P. Carey, “The Regulatory Flex Act: An Overview,” Congressional Research Service In Focus No. IF11900, August 16, 2021, https://crsreports.congress.gov/product/pdf/IF/IF11900 (accessed February 18, 2023). 12. U.S. Small Business Administration, Office of Advocacy, “The Regulatory Flexibility Act,” https://advocacy.sba. gov/resources/the-regulatory-flexibility-act/ (accessed February 18, 2023). 13. H.R. 644, Trade Facilitation and Trade Enforcement Act of 2015, Public Law No. 114-125, 114th Congress, February 24, 2026, https://www.congress.gov/114/statute/STATUTE-130/STATUTE-130-Pg122.pdf (accessed March 21, 2023). 14. U.S. Small Business Administration, Office of Advocacy, “Advocacy Releases Trade Report,” December 21, 2018, https://advocacy.sba.gov/2018/12/21/advocacy-releases-trade-report/ (accessed March 21, 2023). 15. Associated Press, “Reagan Offers $994-Billion ‘Hard-Choices’ 1987 Budget,” Los Angeles Times, February 5, 1986, http://www.latimes.com/archives/la-xpm-1986-02-05-mn-4369-story.html (accessed February 18, 2023). 16. Testimony of Hon. Hector V. Barreto, Administrator, Small Business Administration, in hearing, The President’s FY 2006 Budget Request for the Small Business Administration, Committee on Small Business and Entrepreneurship, U.S. Senate, 109th Congress, 1st Session, February 17, 2005, p. 8, https://books.google.com/ books?id=UwD-2ICa8k8C&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false (accessed February 18, 2023). See also Report No. 109-49, Summary of Legislative and Oversight Activities During the 108th Congress, Committee on Small Business and Entrepreneurship, U.S. Senate, 109th Congress, 1st Session, March 30, 2005, p. 21, https://www.congress.gov/109/crpt/srpt49/CRPT-109srpt49.pdf (accessed February 18, 2023). — 761 — Small Business Administration 17. Editorial, “The Small Business Administration Needs Reforming,” The Washington Post, December 18, 2016, https://www.washingtonpost.com/opinions/the-sba-needs-reforming/2016/12/18/b639fc4c-c159-11e6-8422- eac61c0ef74d_story.html (accessed February 18, 2023). 18. Robert Jay Dilger, Anthony A. Cilluffo, and R. Corinne Blackford, “Small Business Administration Funding: Overview and Recent Trends,” Congressional Research Service Report for Members and Committees of Congress No. R43486, updated July 14, 2022, Summary, https://sgp.fas.org/crs/misc/R43846.pdf (accessed November 18, 2022). 19. Ibid., p. 2. Emphasis added. 20. Press release, “SBA Announces End-of-Year Capital Benchmarks Showing Historic Support for Small Businesses Under Administrator Guzman,” U.S. Small Business Administration, December 13, 2022, https:// www.sba.gov/article/2022/dec/13/sba-announces-end-year-capital-benchmarks-showing-historic-support- small-businesses-under?utm_medium=email&utm_source=govdelivery (accessed February 18, 2023). 21. USASpending,gov, “Agency Profile: Small Business Administration (SBA),” data through September 29, 2022, https://www.usaspending.gov/agency/small-business-administration?fy=2022 (accessed February 18, 2023). 22. Testimony and prepared statement of Tad DeHaven, Budget Analyst, Cato Institute, in hearing, An Examination of SBA Programs: Eliminating Inefficiencies, Duplications, Fraud, and Abuse, Committee on Small Business and Entrepreneurship, U.S. Senate, 112th Congress, 1st Session, June 16, 2011, pp. 80–90, https://www. govinfo.gov/content/pkg/CHRG-112shrg88373/pdf/CHRG-112shrg88373.pdf (accessed February 18, 2023). 23. Sarah Westwood, “Feds Gave $400 Million in Contracts to Ineligible Firms,” Washington Examiner, September 28, 2014, https://www.washingtonexaminer.com/feds-gave-400-million-in-contracts-to-ineligible-firms (accessed February 18, 2023). 24. Keith Girard, “Inside the SBA’s Monumental Katrina Loan Scandal,” AllBusiness.com, https://www.allbusiness. com/inside-the-sbas-monumental-katrina-loan-scandal-11793824-1.html (accessed February 18, 2023). 25. Arnold & Porter, “CARES Act Fraud Tracker,” last updated January 2, 2023, https://www.arnoldporter.com/en/ general/cares-act-fraud-tracker (accessed February 18, 2023). 26. Jay Edwards, “Bipartisan Call to Crack Down on COVID-19 PPP/EIDL Fraud, Prosecute Fraudsters to the Fullest Extent of the Law,” WRNJ Radio (Hackettstown, New Jersey), October 21, 2022, https://wrnjradio.com/ bipartisan-call-to-crack-down-on-covid-19-ppp-eidl-fraud-prosecute-fraudsters-to-the-fullest-extent-of-the- law/ (accessed March 21, 2023). 27. See, for example, H.R. 7628, IMPROVE the SBA Act, 117th Congress, introduced April 28, 2022, https://www. congress.gov/117/bills/hr7628/BILLS-117hr7628ih.pdf (accessed February 18, 2023). 28. In varying degrees, almost every small-business advocacy organization and trade association engages with the SBA. During periods of hyper-regulatory activity fueled by an activist Administration, the small- business community engages more frequently with the Office of Advocacy through its roundtables and other mechanisms in the hope of warding off costly and intrusive rulemakings. A future conservative Administration can look to the following groups, among others, for support in advancing both SBA and broader policy reform: American Hotel and Lodging Association; Asian American Hotel Owners Association; Association of Builders and Contractors; Associated Equipment Distributors; Ceramic Tile Distributors Association; Consumer Technology Association; Family Business Coalition; Foodservice Equipment Distributors Association; Heating, Air-conditioning, and Refrigeration Distributors International; Independent Bakers Association; Independent Community Bankers Association; Independent Electrical Contractors’ International Association of Plastics Distributors; International Franchise Association; Metals Service Center Institute; National Association of Electrical Distributors; National Association of Manufacturers; National Association of Wholesaler-Distributors; National Fastener Distributors Association; National Marine Distributors Association; National Federation of Independent Business; National Ready Mix Concrete Association; National Small Business Association; Small Business and Entrepreneurship Council; and U.S. Hispanic Chamber of Commerce. Additionally, the small-business community is diverse and broad, and several key groups strongly support SBA lending but vigorously oppose tax, regulatory, and spending policies that are intrusiveness or costly to business. Conservative think tanks and taxpayer organizations like The Heritage Foundation, the Cato Institute, the National Taxpayers Union, Citizens Against Government Waste, the Taxpayers Protection Alliance, and Americans for Tax Reform (among others) also have a stake in an improved and cost-effective SBA.

Small Business Administration

Strong
Vector: 64%
Pages: 795-797AI Enhanced

AI Analysis:

"HR 976 aligns with Project 2025's focus on reducing regulatory burdens on small businesses and financial institutions to increase access to credit, reflecting shared goals of streamlining SBA-related lending programs and promoting economic growth through deregulation."

Key themes:regulatory burden reductionsmall business lending accessSBA loan program streamliningfinancial institution compliance relief

— 763 — Small Business Administration 40. U.S. Small Business Administration, Office of Inspector General, Top Management and Performance Challenges Facing the Small Business Administration in Fiscal Year 2023, p. iv. 41. H.R. 748, CARES (Coronavirus Aid, Relief, and Economic Security) Act, Public Law No. 116-136, 116th Congress, March 27, 2020, https://www.congress.gov/116/plaws/publ136/PLAW-116publ136.pdf (accessed February 19, 2023). 42. Sarah McCammon, “Planned Parenthood Asked to Return Funds from Paycheck Protection Program,” NPR, May 21, 2020, https://www.npr.org/2020/05/21/859991359/planned-parenthood-asked-to-return-funds- from-paycheck-protection-program (accessed February 18, 2023). 43. Letter from William Manger, Associate Administrator, U.S. Small Business Administration, to Laura Meyers, Planned Parenthood of Metropolitan Washington, “Re: Notice of Investigation and Request for Records,” May 19, 2020, https://s3.documentcloud.org/documents/6922122/SBA-Letter-Planned-Parenthood-DC.pdf (accessed February 18, 2023). 44. Press release, “Lankford, HSGAC Republicans Demand Details on Illegal PPP Loans to Planned Parenthood Affiliates,” Office of U.S. Senator James Lankford, April 28, 2022, https://www.lankford.senate.gov/news/press- releases/lankford-hsgac-republicans-demand-details-on-illegal-ppp-loans-to-planned-parenthood-affiliates (accessed February 18, 2023). 45. Press release, “Romney, Colleagues Request Information from SBA Administrator Guzman on Illegal PPP Loans Given to Planned Parenthood Affiliates,” Office of U.S. Senator Mitt Romney, April 28, 2022, https:// www.romney.senate.gov/romney-colleagues-request-information-from-sba-administrator-guzman-on- illegal-ppp-loans-given-to-planned-parenthood-affiliates/ (accessed February 18, 2023). 46. 13 C.F.R. §§ 109.400(b)(11), https://www.law.cornell.edu/cfr/text/13/109.400; 123.301(g), https://www.law. cornell.edu/cfr/text/13/123.301; 123.502(n), https://www.law.cornell.edu/cfr/text/13/123.502; and 123.702(b)(6), https://www.law.cornell.edu/cfr/text/13/123.702 (all accessed February 19, 2023). 47. U.S. Small Business Administration, “Religious Eligibility Worksheet for all 7(a) and 504 Loan Programs” SBA Form 1971, http://www.sba.gov/sites/default/files/2020-11/sba-form-1971.pdf (accessed February 18, 2023). 48. U.S. Small Business Administration, “Ensuring Equal Treatment for Faith-Based Organizations in SBA’s Loan and Disaster Assistance Program.” 49. See, for example, Carson v. Makin, 596 U.S. ___ (2022), https://www.supremecourt.gov/ opinions/21pdf/20-1088_dbfi.pdf (accessed February 19, 2023). 50. 28 U.S. Code § 530d, https://www.law.cornell.edu/uscode/text/28/530D (accessed February 19, 2023). 51. U.S. Small Business Administration, “Ensuring Equal Treatment for Faith-Based Organizations in SBA’s Loan and Disaster Assistance Program.” 52. 13 CFR 120.110(k), https://www.law.cornell.edu/cfr/text/13/120.110 (accessed February 19, 2023). 53. U.S. Small Business Administration, “Regulatory Reform Initiative: Streamlining and Modernizing the 7(a), Microloan, and 504 Loan Programs to Reduce Regulatory Burden,” Final Rule, Federal Register, Vol. 87, No. 125 (June 30, 2022), pp. 38900–38910, https://www.federalregister.gov/documents/2022/06/30/2022-13483/ regulatory-reform-initiative-streamlining-and-modernizing-the-7a-microloan-and-504-loan-programs-to (accessed February 18, 2023). 54. Ibid. 55. U.S. Department of Justice, Office of Legal Counsel “Religious Restrictions on Capital Financing for Historically Black Colleges and Universities,” Memorandum Opinion for the Acting General Counsel, Department of Education, August 15, 2019, https://www.justice.gov/sites/default/files/opinions/ attachments/2021/01/01/2019-08-15-hbcu-capfin-2.pdf. (accessed February 18, 2023). 56. U.S. Small Business Administration, Office of Investment and Innovation, SBIR and STTR Annual Report, Fiscal Year 2019, p. 8, https://www.sbir.gov/sites/default/files/SBA_Final_FY19_SBIR_STTR_Annual_Report.pdf (accessed February 18, 2023). 57. S. 4900, SBIR and STTR Extension Act of 2022, Public Law No. 117–183, 117th Congress, September 30, 2022, https://www.congress.gov/117/plaws/publ183/PLAW-117publ183.pdf (accessed February 18, 2023). 58. U.S. Small Business Administration, Office of Investment and Innovation, SBIR and STTR Annual Report, Fiscal Year 2019, pp. 6, 40, and 108. — 764 — Mandate for Leadership: The Conservative Promise 59. Peter L. Singer, “Federally Supported Innovations: 22 Examples of Major Technology Advances that Stem from Federal Support,” Information Technology and Innovation Foundation, February 2014, https://wrnjradio.com/ bipartisan-call-to-crack-down-on-covid-19-ppp-eidl-fraud-prosecute-fraudsters-to-the-fullest-extent-of-the- law/ (accessed March 21, 2023). 60. Wells King, “Uncle Sam’s Top-Performing Venture Fund,” American Compass Case Study, November 2022, https://americancompass.org/wp-content/uploads/2022/11/AC-Case-Study_SBIR_final2.pdf (accessed February 18, 2023). 61. Elisabeth B. Reynolds, Hiram M. Samel, and Joyce Lawrence, “Learning by Building: Complementary Assets and the Migration of Capabilities in U.S. Innovative Firms,” MIT Industrial Performance Center Working Paper No. MIT-IPC-13-001, March 2013, https://ipc.mit.edu/sites/default/files/2019-01/13-001.pdf (accessed February 18, 2023). 62. American Compass, “Where’s The Growth? Assessing the Results of the Globalization Experiment,” March 2022, pp. 3–5, https://americancompass.org/wp-content/uploads/2022/10/AC-Atlas-Wheres-the-Growth.pdf (accessed February 18, 2023). 63. Sridhar Kota and Tom Mahoney, “Innovation Should Be Made in the U.S.A.,” The Wall Street Journal, November 15, 2019, https://www.wsj.com/articles/innovation-should-be-made-in-the-u-s-a-11573833987 (accessed February 18, 2023). 64. S. ___, SBA Reauthorization and Improvement Act of 2019, 116th Congress, 1st Session, Title III, § 303, https://www.rubio.senate.gov/public/_cache/files/80533629-2905-433f-a588-7c4e032f7347/ C096ED9C1EBA68E041CFDA143E01C66C.mir19891.pdf (accessed February 18, 2023). 65. David Adler, “Financing Advanced Manufacturing: Why VCs Aren’t the Answer,” American Affairs, Vol. III, No. 2 (Summer 2019), https://americanaffairsjournal.org/2019/05/financing-advanced-manufacturing-why-vcs- arent-the-answer/ (accessed February 18, 2023). 66. National Association of Manufacturers, “Overview of the Senate HEALS Act,” July 28, 2020, https://documents. nam.org/comm/HEALSActInfo.pdf (accessed February 19, 2023). See also remarks by Senator Mitch McConnell, “HEALS Act,” Congressional Record, Vol. 166, No. 132 (July 27, 2020), pp. S4491–S4492, https:// www.congress.gov/116/crec/2020/07/27/CREC-2020-07-27-pt1-PgS4491-7.pdf (accessed February 20, 2023). 67. S. 1059, American Innovation and Manufacturing Act, 117th Congress, introduced March 25, 2021, https:// www.crfb.org/blogs/whats-11-trillion-heals-act https://www.congress.gov/117/bills/s1059/BILLS-117s1059is.pdf (accessed February 18, 2023). 68. H.R. 7628, IMPROVE (Improve Management, Programs, Resources, and Oversight for Vital Entrepreneurs) the SBA Act, 117th Congress, introduced April 28, 2022, https://www.congress.gov/117/bills/hr7628/BILLS- 117hr7628ih.pdf (accessed February 19, 2023). 69. S. 1120, Small Business Regulatory Flexibility Improvements Act, 116th Congress, introduced April 10, 2019, https://www.congress.gov/116/bills/s1120/BILLS-116s1120is.pdf (accessed February 19, 2023). 70. H.R. 3136, Contract with America Advancement Act of 1996, Public Law No. 104-121, 104th Congress, March 29, 1996, Title II, https://www.congress.gov/104/plaws/publ121/PLAW-104publ121.pdf (accessed February 19, 2023). 71. S. 403, Fair and Open Competition Act, 117th Congress, introduced February 24, 2021, https://www. congress.gov/117/bills/s403/BILLS-117s403is.pdf (accessed February 19, 2023), and H.R. 1284, Fair and Open Competition Act, 117th Congress, introduced February 24, 2021, https://www.congress.gov/117/bills/hr1284/ BILLS-117hr1284ih.pdf (accessed February 19, 2023. 72. President Joseph R. Biden Jr., Executive Order 14063, “Use of Project Labor Agreements for Federal Construction Projects,” February 4, 2022, in Federal Register, Vol. 87, No. 27 (February 9, 2022), pp. 7363–7366, https://www.govinfo.gov/content/pkg/FR-2022-02-09/pdf/2022-02869.pdf (accessed February 19, 2023). 73. “The JOBS Act 4.0: Section-by-Section,” Committee on Banking, Housing, and Urban Affairs, U.S. Senate, https://www.banking.senate.gov/imo/media/doc/the_jobs_act_4.0sectionbysection.pdf (accessed February 19, 2023). 74. Press release, “Luetkeymeyer: SBA Lacks Infrastructure and Expertise to Expand Number of Small Business Lending Companies,” Committee on Small Business, U.S. House of Representatives, November 7, 2022, https:// smallbusiness.house.gov/news/documentsingle.aspx?DocumentID=404376 (accessed February 18, 2023).

Trade

Moderate
Vector: 66%
Pages: 863-865AI Enhanced

AI Analysis:

"HR 976 aligns with Project 2025's goal of reducing regulatory burdens on financial institutions, particularly by repealing Dodd-Frank data collection requirements, which reflects a shared objective of deregulating small business lending to improve credit access. However, the bill focuses narrowly on small business loan data reporting under ECOA Section 1071, while Project 2025's Trade section emphasizes broader capital markets reforms like accredited investor rules, private offerings, and SEC ov"

Key themes:regulatory burden reductionsmall business lendingDodd-Frank reformfinancial deregulationcredit access

— 831 — Financial Regulatory Agencies l Either democratize access to private offerings by broadening the definition of accredited investor for purposes of Regulation D or eliminate the accredited investor restriction altogether.15 l Allow traditional self-certification of accredited investor status for all Regulation D Rule 506 offerings. l Exempt small micro-offerings from registration requirements.16 l Exempt small and intermittent finders from broker–dealer registration requirements and provide a simplified registration process for private placement brokers.17 l Exempt peer-to-peer lending from federal and state securities laws and reduce the regulatory burden on Regulation CF debt securities. l Make the Title I Emerging Growth Company (EGC) exemptions permanent for all EGCs. l Reduce the regulatory burden on small broker–dealers and exempt privately held, non-custodial broker–dealers from the requirements to use a PCAOB- registered firm for their audits. Congress should: l Amend the Internal Revenue Code to disregard crowdfunding and Regulation A shareholders for purposes of the 100-shareholder limit for Subchapter S corporations.18 BETTER CAPITAL MARKETS To improve capital markets, the SEC should: l Preempt blue sky registration, qualification, and continuing reporting requirements for securities traded on established securities markets (including a national securities exchange or an alternative trading system).19 l Terminate the Consolidated Audit Trail (CAT) program.20 l Abolish Rule 144 and other regulations that restrict securities resales and instead require a company that has sold securities to provide sufficient current informa- tion to the market to permit reasonable investment decisions and secondary sales. — 832 — Mandate for Leadership: The Conservative Promise Congress should: l Prohibit the SEC from requiring issuer disclosure of social, ideological, political, or “human capital” information that is not material to investors’ financial, economic, or pecuniary risks or returns. The proposed SEC climate change rule, which would quadruple the costs of being a public company, is particularly problematic.21 l Repeal the Dodd–Frank mandated disclosures relating to conflict minerals, mine safety, resource extraction, and CEO pay ratios.22 l Oppose efforts to redefine the purpose of business in the name of social justice; corporate social responsibility (CSR); stakeholder theory; environmental, social, and governance (ESG) criteria; socially responsible investing (SRI); sustainability; diversity; business ethics; or common- good capitalism. l Prohibit securities regulators, including SROs, from promulgating rules or taking other actions that discriminate, either favorably or unfavorably, on the basis of the race, color, religion, sex, or national origin of such individual or group. SEC ADMINISTRATION To enable it to achieve its core mission more effectively, the SEC should:23 l Publish better data on securities offerings, securities markets, and securities law enforcement and publish an annual data book of time series data on these matters. Specifically, the SEC Division of Economic and Risk Analysis (DERA) needs to do a much better job of collecting and reporting fundamental data regarding offerings, regulatory costs, violations, enforcement, investors, state regulator taxes, fees and activities, and other matters. l Ensure that SEC resources flow toward its core functions and away from ancillary and support functions or from missions that do not fall within the SEC’s statutory charge. l Ensure that any three SEC Commissioners are empowered to place an item on the agenda and to receive adequate staff support to do so even without the Chairman’s support.

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About These Correlations

Policy matches are calculated using a hybrid approach: initial candidates are found using semantic similarity between bill summaries and Project 2025 policy text, then an AI model (Llama 3.1 70B) provides detailed alignment ratings and analysis. Ratings range from 1 (minimal alignment) to 5 (very strong alignment). This analysis does not imply direct causation or intent.

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