Rep. Scholten Announces Committee Passage Of Her Bipartisan Legislation To Invest In Small Businesses

U.S. Representative Hillary Scholten (MI-03) announced that the House Small Business Committee unanimously passed her Investing in All of America Act, bipartisan legislation that would expand access to capital for small businesses—especially those operating in rural or underserved areas or in the manufacturing and critical technology sectors. In 2024 alone, SBICs provided more than $8 billion to small businesses nationwide—including more than $150 million in Michigan. 

"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." 

Specifically, the Investing in All of America Act would lift restrictions on Small Business Investment Companies (SBICs), which are privately owned companies that are licensed and regulated by the U.S. Small Business Administration (SBA). SBICs use private capital, which the SBA matches with government-backed leverage, to invest directly in small businesses.  This legislation would enable SBICs to make larger investments in small businesses, helping grow our economy and create jobs. Critically, the SBIC program operates at no subsidy cost to the American taxpayer.

Representative Dan Meuser (R-PA) is a cosponsor of the Investing in All of America Act. This week, the bill passed out of the House Small Business Committee by a vote of 23-0. The legislation now moves forward for consideration by the full House of Representatives. Representative Scholten was an original cosponsor of this legislation in the 118th Congress, when it passed the full House of Representatives. 

Full text of the legislation can be found here. 

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