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Congress·Passed House·H.R. 2066

Plan expands small-business funding, excludes up to $125M for rural, low-income, and tech areas

Investing in All of America Act of 2025

4 months ago·View on Congress.gov
⏸

Stalled

No legislative action in over 90 days.

Legislative Progress

✓ House
Senate
President
Law

Key Points

  • Allows investments in small businesses in rural or low-income areas, key tech fields, and small manufacturers to not count toward borrowing caps for government-backed small business funds, so more money can reach these places.
  • Sets new dollar caps: funds that pay interest quarterly or twice a year can borrow up to $250 million, and related funds up to $475 million; others keep lower caps of $175 million and $350 million.
  • Lowers the general borrowing limit from three times to two times a fund’s private money, but lets up to $125 million or 50% of private money (whichever is less) be excluded when invested in the targeted businesses.
  • Tightens what counts as private money by excluding government funds, aiming to reduce risk and make sure real private capital backs these loans.
  • Applies only to new investments after it takes effect; could boost jobs and growth in small towns and struggling neighborhoods, but also adds some risk for taxpayers if deals go bad.
Small BusinessTechnologyEconomyLabor Employment

Impact Analysis

Personal Impact

How this policy affects specific groups of people

Positive Impacts(1)
Small Business Owner
Helps

Milestones

4 milestones13 actions
Dec 2, 2025Senate

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Dec 1, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Dec 1, 2025House

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4918)

Dec 1, 2025

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4918)

Dec 1, 2025House

DEBATE - The House proceeded with forty minutes of debate on H.R. 2066.

What Happens Next

Projected impacts based on AI analysis

Starting immediately after the bill becomes law

New SBIC investments made after enactment can qualify for the leverage-limit exclusion if they are in rural areas, low-income areas, critical technology, or small manufacturers.

Small businesses in these categories may start seeing more interest from SBIC funds for new deals after the law takes effect, but existing/older investments generally won’t get the new treatment.

Within months after the bill becomes law

SBIC funds update their deal selection and fundraising plans to use the new exclusion cap (up to the lesser of 50% of private capital or $125,000,000).

Investment funds may be able to put more dollars into targeted communities and sectors without hitting borrowing limits as quickly, which can increase the pool of available capital for qualifying small businesses.

Within months after the bill becomes law

SBA updates program guidance and review practices for what counts as “private capital,” including the expanded list that can include certain university-related funds, while excluding most government-sourced funds.

Some SBIC funds may find it easier to count certain investor dollars as qualifying private capital, which can affect how much SBA-backed leverage they can access.

Source Information

Document Type

Congressional Bill

Official Title

Investing in All of America Act of 2025

Bill NumberHR 2066
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Sponsor

Cosponsors

(8)
D: 4R: 4

Analysis generated by AI. Always verify with official sources.