~ Legislation would protect small businesses throughout the country and provide relief from increasing prices ~
WASHINGTON, DC – U.S. Senator Mazie K. Hirono (D-HI), Senate Democratic Leader Chuck Schumer (D-NY), and Senate Small Business and Entrepreneurship Committee Ranking Member Ed Markey (D-MA) have 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.
“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.”
According to the U.S. Office of Advocacy within the Small Business Administration (SBA), the more than 34 million small businesses across the country employ over 62 million people. There are currently more than 139,000 small businesses in Hawaii, which employ over 235,000 Hawaii employees. While all businesses are impacted by Trump’s tariffs, small businesses are less likely to absorb the increased costs of imported goods, making them more vulnerable.
The full text of the legislation is available here.
As a member of the Senate Committee on Small Business & Entrepreneurship, Senator Hirono has worked to secure federal support for small businesses in Hawaii and throughout the country, and remains committed to fighting in the best interest of these businesses. Earlier this year, in April, she joined Ranking Member Markey and other Senate Democrats in sending a letter to the SBA Administrator, expressing concerns about the potential impact of the tariffs on small businesses. In February, she introduced the Small Business Disaster Damage Fairness Act of 2025, legislation that would make it easier for businesses to receive SBA disaster assistance loans without pledging collateral. In January, she introduced the Veterans Member Business Loan Act, legislation that would make it easier for veteran-owned businesses to receive commercial loans from credit unions.
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