Shaheen Introduces Legislation to Modernize and Reauthorize Program Critical to Helping Small Businesses Compete and Grow
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), a senior member and former Chair of the Senate Committee on Small Business and Entrepreneurship, introduced legislation that would reauthorize the Small Business Administration’s (SBA) State Trade Expansion Program (STEP) for four years. Shaheen helped create STEP as a pilot program in 2010 to provide export assistance to small businesses, and the program was fully authorized by her small business trade amendment that was signed into law in 2016.
“As governor of New Hampshire, I led the first overseas trade delegation from my state where I saw firsthand how connecting American businesses with global industry can create new economic opportunity. That’s what inspired me to help create STEP in Congress more than a decade ago—and since then, this program has successfully enabled businesses to take advantage of global markets,” said Senator Shaheen. “For states like mine, small businesses are the backbone of our economy, so it’s critical that Congress reauthorize and make updates to this program, allowing entrepreneurs across the nation to better compete and grow.”
In addition to authorizing the program through Fiscal Year 2030, the STEP Improvement Act would update STEP by streamlining the application, reporting and compliance requirements, improving award consistency and transparency and establishing a formula that will replace the current competitive process for determining award amounts once appropriations reach a set level. Since its creation, STEP has awarded $215 million in grants and directly supported over 13,000 small businesses' international expansion and export growth. Each dollar awarded has resulted in approximately $43 in export sales generated.
The bill text can be read HERE.
As a senior member and former chair of the U.S. Senate Small Business Committee, Shaheen has long championed programs that increase opportunities and growth for New Hampshire businesses. Shaheen was the first New Hampshire Governor to lead trade missions outside of North America and has prioritized efforts in Congress to help small businesses boost their exports. Just recently, Shaheen led her final bipartisan Congressional delegation to the Farnborough Air Show to showcase and connect Granite State businesses with industry leaders from across the globe. Businesses were able to attend the air show thanks to STEP. Shaheen also leads efforts to mitigate the harmful impacts of President Trump’s tariffs, including with the introduction of the Speedy Tariff Refund Act to ensure full refunds of President Trump’s illegal tariffs that raised costs for American small business owners.
###