Congressman Meuser Reintroduces Bill to Expand Capital Access for Small Businesses in Rural and Underserved Areas

Washington, D.C. – Today, Congressman Dan Meuser (R-PA), joined by Congresswoman Hillary Scholten (D-MI) reintroduced H.R. 2066, the Investing in All of America Act, legislation aimed at increasing capital available to small businesses, particularly those in rural or low-income areas, manufacturing, and those operating in the critical technology sector.

Small Business Investment Companies (SBICs) are a prime example of successful public-private partnerships, leveraging private sector investment with support from the Small Business Administration (SBA) to drive economic growth. These entities raise private capital, which is then matched with leverage by the SBA, allowing them to invest directly in small businesses. Importantly, the SBIC program operates without taxpayer subsidy, meaning taxpayer funds are not used to support extended credit in SBIC investments.

Over the past two decades, SBIC-backed businesses have generated 3 million new jobs and supported an additional 10.5 million jobs. Last year alone, SBICs injected more than $8 billion into small businesses nationwide, including $412.3 million directed toward Pennsylvania small businesses. Despite these successes, recent studies indicate that less than 20% of SBIC investment reaches low- to middle-income communities. The Investing in All of America Act seeks to close this gap and promote a more equitable distribution of investment capital.

To achieve this, the bill ensures that dollars invested in rural and low-income areas, manufacturing, or the critical technology sector will not count against an SBIC’s leverage cap, making additional capital available for businesses in these critical industries. Additionally, the legislation reinstates an inflation adjuster for SBIC leverage caps, ensuring investment power remains aligned with market trends.

Manufacturing plays a pivotal role in the U.S. economy, with approximately 99% of American manufacturers classified as small businesses. By expanding access to capital through the SBIC Program, this bill provides much-needed resources for small manufacturers to invest in new equipment, expand production, and create high-paying jobs in communities across the country.

Congressman Meuser stated, “As someone who spent more than 20 years helping grow a small business into a larger business, I understand firsthand the challenges of securing capital. Persistent inflation and rising interest rates have only made it harder for small businesses in Pennsylvania and across the country to access the funding they need to grow and succeed. By implementing additional bonus leverage within the SBIC Program, this bill strengthens investment in underserved areas without adding cost or risk to taxpayers. The Investing in All of America Act is not just about expanding access to capital; it’s about revitalizing communities, creating jobs, and bolstering economic growth in eastern and central Pennsylvania and similar regions nationwide. I urge my colleagues to support this bipartisan effort to help grow America’s small businesses.”

“Small businesses need access to capital to grow and thrive. The Investing in All of America Act brings that capital directly to rural and underserved parts of America, supporting businesses and local communities in desperate need of growth,” said Small Business Committee Chairman Roger Williams. “I thank Representative Meuser for his work to revitalize small town America through this important legislation.”

“Small businesses are the backbone of our economy, yet far too many in rural and underserved communities struggle to access the capital they need to grow and thrive," said Congresswoman Scholten. "The bipartisan Investing in All of America Act is about ensuring that every entrepreneur has a fair shot at success. Expanding access to investment will help create jobs and strengthen West Michigan's economy. I’m proud to work with Rep. Meuser to support our small businesses.”

SBIA President Brett Palmer added, “This is smart policy that will help small businesses and manufacturers access the capital they need to grow, particularly those in low-income and rural parts of the country, without new federal spending, regulations, or mandates.”

Text of the legislation can be found here. 

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