(Washington, May 22) - Ranking Member Edward J. Markey (D-Mass.) today released the following statement after House Republicans passed Trump’s billionaire tax giveaway package that provides tax cuts to super wealthy individuals, cuts clean energy programs, and ignores the existing pain for small businesses on Main Street caused by the Trump tariffs.

“The House-passed bill is an assault on working families and businesses everywhere - raising costs across the board, while handing out hundreds of thousands in tax breaks for the wealthy. Small businesses are an afterthought in the Republican tax bill: half of the benefits for the so-called ‘small business tax deduction,’ or 199A, that Republicans seek to expand, go to the ultra-wealthy.

“At the same time, Republicans are allowing enhanced premium tax credits, which helps 3 million small businesses afford health coverage, to expire. The bill will destroy clean energy incentives that are creating 400,000 jobs and spurring $420 billion in investments. It will also cut funding that help small businesses power our clean energy economy. This isn’t ‘one big, beautiful bill’ - it’s a big billionaire sell-out at the expense of our climate, communities, and small businesses.

“Meanwhile, Trump’s tariffs are wreaking havoc on small businesses and raising the cost of living for working families by almost $3,000 annually. That’s why I introduced the Small Business Liberation Act, which would exempt small businesses from Trump’s reckless tariffs. Unfortunately, Republicans blocked our efforts to pass the bill and doubled down on President Trump’s destructive policies for Main Street. It’s utterly shameful that Republicans have chosen to stand on the side of big billionaires, rather than small businesses.”

Ranking Member Markey previously condemned President Trump’s draconian budget cuts, which include eliminating entrepreneurial development programs for America’s small businesses.

Yesterday, Ranking Member Markey attempted to pass the Small Business Liberation Act by Unanimous Consent to provide America’s 34 million small businesses with an exemption from Trump’s reckless tariffs. Senate Republicans blocked the bill, refusing to provide relief to Main Street small businesses. Ranking Member Markey then stood alongside small business owners emphasizing the harm and chaos Trump’s tariffs are inflicting on America’s small businesses.