SBA Announces Made in America Manufacturing Initiative

Effort will cut $100B in regulation, expand access to capital,
and create dedicated infrastructure to support blue-collar boom

 

WASHINGTON — Today, U.S. Small Business Administration Administrator Kelly Loeffler announced the agency’s new Made in America Manufacturing Initiative to restore American economic dominance and national security by empowering small manufacturers. The agency’s effort will support President Trump’s agenda to create good-paying jobs, secure our supply chains, promote fair trade, and bring back the blue-collar boom of his first Administration.

About 99% of American manufacturers are small businesses, who are already experiencing a resurgence under the President’s pro-growth agenda. The country gained 10,000 manufacturing jobs during his first full month in office — a swift turnaround after losing an average of 9,000 manufacturing jobs per month in the final year of the previous Administration.

“The great American comeback starts with restoring American industry,” SBA Administrator Kelly Loeffler said. “With the Made in America Manufacturing Initiative, we’re slashing red tape, expanding access to capital, and fueling a manufacturing resurgence that will create high-paying jobs and revitalize communities across the country. By prioritizing American-made products, we’re not just securing our economic dominance — we’re protecting our national security by ensuring the essential goods we rely on are produced right here at home. SBA’s initiative is a promise to every hardworking American and small business owner: We’re putting American jobs and strength first.”

As part of the Made in America Manufacturing Initiative, the SBA will:

·         Cut $100 billion in regulation through the Office of Advocacy, which is empowered by law to work across federal agencies to identify and eliminate rules, policies, and procedures that disproportionately burden small businesses and manufacturers.

·         Launch a Red Tape Hotline for small business owners and manufacturers to share feedback and submit onerous regulations for review.

·         Deploy the newly announced Office of Manufacturing and Trade to offer small manufacturers dedicated resources and training in partnership with SBA field offices across the country.

·         Reduce barriers to access for the 504 loan program, a zero-subsidy program which provides capital for real estate, construction, and equipment purchases. Zero-subsidy means the program operates without ongoing taxpayer funding and is sustained by borrower and lender fees.

·         Expand the use of the 7(a) Working Capital Pilot program, which provides financing to fund inventory purchases and export-related expenses for international markets.

·         Promote a skilled manufacturing workforce by partnering with agencies, trade schools and private sector stakeholders to create a pipeline of skilled workers to support manufacturing.

·         Support President Trump’s manufacturing agenda, including tariffs to restore fair and reciprocal trade, tax cuts on domestic production, and 100% expensing retroactive to Jan. 20, 2025, for manufacturers.

As part of the Initiative, representatives from the newly announced Office of Manufacturing and Trade will embark on a multistate Made in America Roadshow over the next two months, where they will hold roundtables to solicit feedback from small manufacturers across the country.

Administrator Loeffler will formally launch the Initiative and the Roadshow today at an aerospace and defense manufacturing facility in Indianapolis, Ind. She will be joined by state and federal leaders, as well as small business owners in the manufacturing industry.

President Trump says the tariffs imposed on other countries are having the desired effect, and he's now open to negotiations. Speaking to reporters aboard Air Force One, Trump said his initial tariff plan is over, and he's watching it settle in. He said every country has called, asking to cut a trade deal with the U.S. to avoid the tariffs.        Stocks are closing sharply lower one day after President Trump announced sweeping global tariffs. The S&P 500 had its worse day since 2020 as the White House announced a baseline tariff rate of ten-percent against most countries yesterday that will go into effect on Saturday. At the closing bell, the Dow Jones Industrial Average fell by 16-79 to 40-545. The S&P 500 lost 274 points to 53-96. The Nasdaq lost 10-50 points to 16-550.        A multi-day severe weather event is unfolding for more than 55-million people. It comes after at least seven people were killed in the South Central U.S. after storms that included several tornadoes hit the region yesterday. Tonight, there is still a tornado threat for the same areas, but forecasters warn there could also be potentially catastrophic flooding in the Mid-South and Midwest.        The Federal Aviation Administration is offering more support to air traffic controllers at Reagan National Airport. The Critical Incident Stress Management team will be meeting with airport personnel sometime early this month. The FAA is also reviewing the arrival rate at the airport and will conduct regular wellness checks.        The Senate has confirmed Dr. Mehmet Oz as administrator of the Centers for Medicare and Medicaid Services. The television personality was confirmed on a party-line vote of 53-45. Oz now assumes a role that provides health insurance to roughly 160 million Americans.        Steven Spielberg and George Lucas top the latest Forbes list of celebrity billionaires. The latest Forbes ranking of the world's wealthiest people includes 18 celebrities, with film director Steven Spielberg topping the list at five-point-three-billion dollars. Star Wars creator George Lucas is in second place with a net worth of five-point-one-billion dollars.