Senator Markey to assume leadership role as ranking Democrat on Small Business and Entrepreneurship Committee

Senator Edward J. Markey has taken on a new leadership role as the Ranking Member of the U.S. Senate Small Business and Entrepreneurship Committee (SBC), where he will work to provide small businesses in Massachusetts and across the country with the resources they need to start, grow, and create jobs. With over 722,000 small businesses in Massachusetts alone, Senator Markey’s focus on building a fair and just opportunity economy for entrepreneurs is crucial for the state’s economic success.

One of Senator Markey’s key priorities as Ranking Member is to reach businesses and aspiring entrepreneurs in underserved communities. By expanding training and mentorship resources, he aims to provide support to those who may face barriers to entry in the business world. Additionally, Senator Markey is committed to helping small businesses adapt to emerging technology, ensuring that they can remain competitive in an ever-evolving market.

Addressing wealth disparities is another important aspect of Senator Markey’s agenda. By closing access gaps and providing support to innovative and clean energy small businesses, he hopes to foster a more inclusive and equitable economy. This includes permanently reauthorizing programs like the Small Business Innovation and Research (SBIR) and Small Business Technology Transfer (STTR) programs, which have been instrumental in supporting small businesses in Massachusetts and beyond.

During the Biden-Harris administration, there has been a surge in new business applications, particularly from Black, Latino, and women-owned businesses. Senator Markey aims to build on this momentum and ensure that small businesses continue to thrive under his leadership. By investing in the success of working families and fostering innovation, he believes that small businesses can play a vital role in closing gender and racial wealth gaps.

Senator Markey’s track record on small business issues is impressive, with a history of championing programs like the SBIR and STTR. During the COVID-19 pandemic, he introduced legislation to ensure a more equitable distribution of Paycheck Protection Program loans, highlighting his commitment to supporting small businesses during challenging times. In the 118th Congress, Senator Markey also introduced legislation to provide opportunity grants to aspiring entrepreneurs in underserved communities, further demonstrating his dedication to promoting economic opportunity for all.

In addition to his role on the Small Business and Entrepreneurship Committee, Senator Markey is also a member of several other key committees, including Commerce, Science, and Transportation, Environment and Public Works, and Health, Education, Labor, and Pensions. As lead co-Chair of the Climate Change Task Force, he brings a wealth of experience and expertise to his new leadership position, ensuring that small businesses in Massachusetts and every corner of the country have a strong advocate in Washington.

Overall, Senator Edward J. Markey’s appointment as Ranking Member of the U.S. Senate Small Business and Entrepreneurship Committee signals a new chapter in the fight for economic opportunity and prosperity for small businesses. With his dedication to supporting entrepreneurs, closing wealth disparities, and fostering innovation, Senator Markey is poised to make a lasting impact on the small business landscape in Massachusetts and beyond.