The House Small Business Committee has unanimously approved H.R. 2066, the Investing in All of America Act, a bipartisan bill sponsored by Congressman Dan Meuser (R-PA) and Congresswoman Hillary Scholten (D-MI). The legislation is designed to increase access to capital for small businesses, particularly those located in rural or underserved communities, as well as those in manufacturing and critical technology sectors.
Small Business Investment Companies (SBICs) are public-private partnerships that use private investment combined with government-backed leverage from the Small Business Administration (SBA) to fund small businesses. The SBIC program does not require a subsidy from taxpayers.
According to data cited by the sponsors, over the last twenty years, companies supported by SBICs have created three million jobs and sustained another 10.5 million. In 2024, SBICs invested more than $8 billion nationwide in small businesses, including $412.3 million in Pennsylvania. Despite this impact, less than one-fifth of these investments reach low- and middle-income areas.
The new legislation seeks to address this gap by allowing investments made in rural and low-income regions, manufacturing, and critical technologies to be excluded from an SBIC’s leverage cap. This would enable additional capital to flow into these sectors. The bill also reinstates an inflation adjustment for SBIC leverage limits so that funding levels remain consistent with economic conditions.
Manufacturing continues to play a key role in the U.S. economy; 99% of manufacturers are considered small businesses. Supporters say that improving the SBIC program will help these companies grow and create quality jobs nationwide.
Congressman Meuser said,“As someone who spent more than 20 years helping grow a small business into a larger business, I know how difficult it can be to access capital. This legislation helps drive investment dollars into the hands of small businesses that need them most, without placing any added burden on taxpayers. It’s about empowering entrepreneurs, strengthening domestic manufacturing, and fueling long-term growth in communities that have too often been overlooked. I’m pleased this bill is moving forward with bipartisan support, and I encourage my colleagues to help get it across the finish line.”
“Small businesses need access to capital to grow and thrive. The Investing in All of America Act brings that capital directly to rural and underserved parts of America, supporting businesses and local communities in desperate need of growth,” said Small Business Committee Chairman Roger Williams. “I thank Representative Meuser for his work to revitalize small town America through this important legislation.”
“Expanding access to capital means expanding opportunity–it helps create jobs, spark innovation, and grow West Michigan’s economy at no expense to the taxpayer. Today, I’m proud that our bipartisan Investing in All of America Act is one step closer to becoming law to ensure every entrepreneur has a fair shot at success,” said Congresswoman Scholten. “In rural and underserved communities, small businesses face barriers to the resources they need to grow and thrive. I’m pleased to partner with Rep. Meuser to help level the playing field and invest in the full potential of our small business owners.”
“This bill’s advancement reflects a strong commitment to growing the American small business economy,” said SBIA President Brett Palmer. “By modernizing the SBIC program to support investment in underserved communities, domestic manufacturers, and strategic industries, this legislation will help ensure more capital reaches the small businesses that power job creation, innovation, and supply chain resilience.”
The committee passed H.R. 2066 by a vote of 23-0; it now heads for consideration by the full House of Representatives.
