Small businesses in the United States paid over $70 billion in tariffs between March and December 2025, with Massachusetts small businesses contributing an estimated $734 million. The Supreme Court has ruled that former President Trump did not have the authority to impose these tariffs under the International Emergency Economic Powers Act (IEEPA).
Ranking Member Edward J. Markey (D-Mass.) responded to the decision, stating, “This case was Small Businesses v. Trump, and small businesses won. While big businesses ducked the fight, relying instead on golden gifts and Mar-a-lago memberships to provide access and exemptions, small businesses took on this fight to end the pain on Main Street. Trump bet his economic agenda on an illegal power grab and lost. It is a moral obligation for this administration to return every last cent taken from small businesses by this illegal tax.”
Markey has been active in advocating for relief for small businesses affected by these tariffs. Earlier in February 2026, he released a report outlining how Trump’s economic policies, including tariffs, have impacted main streets and working families across the country. In December 2025, he published state-by-state data showing tariff payments by small businesses from March to September 2025.
In November 2025, Markey sent a letter to Small Business Administration Administrator Kelly Loeffler, Secretary of Commerce Howard Lutnick, U.S. Trade Representative Jamieson Greer, and Acting Chair of the Council of Economic Advisors Pierre Yared calling for an equitable process to refund tariffs paid by small businesses. He also held press conferences highlighting stories from business owners affected by these tariffs and urged the Supreme Court to overturn them.
Markey introduced the Small Business RELIEF Act in September 2025 to exempt small businesses from certain tariffs and require refunds for those who had already paid them. He previously attempted to pass similar legislation with the Small Business Liberation Act in May and August 2025 but faced opposition from Senate Republicans.
The Senate Small Business and Entrepreneurship Committee plays a role in supporting informed decision-making on national fiscal priorities and offers Congress policy options related to federal budget components (official website). The committee also contributes to the congressional budget process through resolutions and reconciliation instructions (official website). Established through the Congressional Budget and Impoundment Control Act of 1974 (official website), it provides nonpartisan budgetary analysis via oversight of the Congressional Budget Office (official website).
