- The Trump administration has proposed a rule through the Small Business Administration to significantly increase the revenue and employee thresholds for companies classified as small businesses.
- Under the proposal, some companies making over $1 billion or employing up to 3,000 people would become eligible for federal small business loans, grants, and contracts.
- The proposal includes major threshold jumps across various sectors, such as raising the revenue limit for financial investment firms to $1.011 billion and political organizations to $632 million.
- Critics and industry experts warned that the rule could harm actual small businesses by forcing them to compete against large corporations for federal resources.
- The Small Business Administration defended the rule change as a way to reward growth and strengthen domestic supply chains, with public comments open through September 21.
IN FULL
Trump team wants to expand the definition of ‘small business’ to include billion-dollar companies
