Investing in All of America Act of 2025
Signed into law May 19, 2026 · Commerce
What this law does
- Lowers the most a Small Business Investment Company can borrow from the Small Business Administration, from 300% to 200% of its private capital.
- Raises the borrowing limit for groups of commonly controlled investment companies from $350 million to $475 million.
- Leaves out of the borrowing limit money invested in rural areas, certain technology fields, or small manufacturers, up to a cap.
- Expands what counts as private capital, including money from college or university trusts and endowments.
Plain-language list by Voting On, based only on the official summary by the nonpartisan Congressional Research Service and the bill's titles. Read the official summary.
How it became law
- IntroducedMar 11, 2025 · House
- 265 daysPassed HouseDec 1, 2025
- 135 daysPassed SenateApr 15, 2026
- 27 daysPresented to the PresidentMay 12, 2026
- 7 daysSigned into lawMay 19, 2026
Official summary
Investing in All of America Act of 2025
This bill modifies the limit on the amount of financing available to a Small Business Investment Company (SBIC) from the Small Business Administration (SBA). It also expands the definition of private capital with respect to SBICs.
Specifically, the bill reduces the maximum outstanding financing available to an SBIC from 300% to 200% of the SBIC's private capital. The bill increases from $350 million to $475 million the maximum financing available to two or more commonly controlled SBICs that make quarterly or semiannual interest payments.
The bill also expands the amounts that may be excluded from the calculation of the financing limit to include the amounts an SBIC invests in (1) rural areas, (2) certain technology categories, or (3) small manufacturers. The bill revises the cap on such excluded amounts to the lesser of $125 million or the aggregate of 50% of the private capital of the SBIC.
Additionally, the bill expands what is considered the private capital of an SBIC to include funds obtained from the business revenue of additional government-sponsored corporations and funds invested by the trust or endowment of a college or university.
Summary by the nonpartisan Congressional Research Service (Reported to House, Aug 15, 2025).
Who wrote it
Sponsor: Rep. Meuser, Daniel [R-PA-9]
8 cosponsors: 4 Democrats, 4 Republicans. 1 signed on the day it was introduced, 7 joined later.
Show all cosponsors
| Cosponsor | Signed on | |
|---|---|---|
| Rep. Scholten, Hillary J. [D-MI-3] | Mar 11, 2025 | Original cosponsor |
| Rep. Wied, Tony [R-WI-8] | Mar 25, 2025 | |
| Rep. Fitzpatrick, Brian K. [R-PA-1] | Mar 31, 2025 | |
| Del. King-Hinds, Kimberlyn [R-MP-At Large] | Mar 31, 2025 | |
| Rep. Davids, Sharice [D-KS-3] | Mar 31, 2025 | |
| Rep. Davis, Donald G. [D-NC-1] | Mar 31, 2025 | |
| Rep. LaLota, Nick [R-NY-1] | Apr 7, 2025 | |
| Rep. Vindman, Eugene Simon [D-VA-7] | Jul 25, 2025 |
Recorded votes
No recorded roll-call votes. It passed by voice vote or unanimous consent, where individual votes are not recorded.
What was added
Amendments adopted (0)
No floor amendments were adopted. Any changes were made in committee or in a later version of the bill.
Sections in the final law that were not in the first version (Introduced in House) (0)
None. Every section heading in the final law was already in the first version (Introduced in House).
What was removed
Sections in the first version (Introduced in House) that did not make it into the law (0)
None. Every section heading from the first version (Introduced in House) remains in the law.
Compared by section heading between the Introduced in House text (Mar 11, 2025) and the Enrolled Bill text, both from GovInfo. Wording changes inside a section that kept its heading are not shown here; see the amendments and the text versions.
Proposed but not adopted
No amendments were voted down or withdrawn.
Full action history
Show all 26 official actions
| May 19, 2026 | Signed by President. |
| May 19, 2026 | Signed by President. |
| May 19, 2026 | Became Public Law No: 119-92. |
| May 19, 2026 | Became Public Law No: 119-92. |
| May 12, 2026 | Presented to President. |
| May 12, 2026 | Presented to President. |
| Apr 16, 2026 | Message on Senate action sent to the House. |
| Apr 15, 2026 | Senate Committee on Small Business and Entrepreneurship discharged by Unanimous Consent. |
| Apr 15, 2026 | Senate Committee on Small Business and Entrepreneurship discharged by Unanimous Consent. |
| Apr 15, 2026 | Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent. |
| Apr 15, 2026 | Passed Senate without amendment by Unanimous Consent. (consideration: CR S1789-1790) |
| Dec 2, 2025 | Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. |
| Dec 1, 2025 | Motion to reconsider laid on the table Agreed to without objection. |
| 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, 2025 | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4918) |
| Dec 1, 2025 | DEBATE - The House proceeded with forty minutes of debate on H.R. 2066. |
| Dec 1, 2025 | Considered under suspension of the rules. (consideration: CR H4918-4919) |
| Dec 1, 2025 | Mr. Williams (TX) moved to suspend the rules and pass the bill, as amended. |
| Aug 15, 2025 | Reported (Amended) by the Committee on Small Business. H. Rept. 119-227. |
| Aug 15, 2025 | Reported (Amended) by the Committee on Small Business. H. Rept. 119-227. |
| Aug 15, 2025 | Placed on the Union Calendar, Calendar No. 185. |
| Jul 22, 2025 | Committee Consideration and Mark-up Session Held |
| Jul 22, 2025 | Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 0. |
| Mar 11, 2025 | Introduced in House |
| Mar 11, 2025 | Introduced in House |
| Mar 11, 2025 | Referred to the House Committee on Small Business. |
Sources: Congress.gov (bill record, sponsors, actions, amendments, CRS summary) and GovInfo (official text). Days are calendar days.