Affordability, Small Business, and the Economy

Addressing Affordability

California is already one of the most expensive places in the country to live. Families in the San Gabriel Valley face some of the nation's highest housing costs while also paying for groceries, health care, child care, utilities, transportation, and all the other necessities that make up a household budget.

President Trump promised to bring those costs down. Instead, his economic policies are making it harder for working families and small businesses to get ahead.

He imposed sweeping tariffs that raise costs for American businesses and consumers. Tariffs are taxes paid by American importers, and when businesses have to pay more for products, equipment, parts, and raw materials from abroad, those costs can ultimately show up in the prices families pay. Small businesses, which often operate on narrow margins and have less ability than large corporations to absorb sudden cost increases, are especially vulnerable.

He and Republicans made health care more expensive. Republicans allowed the enhanced Affordable Care Act premium tax credits to expire, leaving families across California facing significantly higher premiums. These tax credits are particularly important to small business owners, entrepreneurs, and self-employed workers who often do not receive health insurance through an employer and depend on the ACA marketplaces for affordable coverage.

He signed legislation making historic cuts to health care and food assistance. H.R. 1, the One Big Ugly Bill, made the largest cuts to Medicaid and food assistance in American history. At a time when families are already struggling with the cost of groceries and health care, these cuts threaten to leave millions of Americans paying more or going without the assistance they need.

He and Republicans took away tax credits that helped families lower their energy bills. On the Ways and Means Committee, I fought to enact clean-energy tax credits through the Inflation Reduction Act that helped families afford energy-efficient home improvements, clean-energy systems, and cleaner vehicles. President Trump and congressional Republicans accelerated the elimination of many of those credits, taking away tools families could use to reduce their household energy costs.

And instead of making life more affordable at home, his administration has spent trillions on an unnecessary war with Iran and the expansion of ICE. These choices come at a time when families are worried about the cost of living, small businesses are navigating economic uncertainty, and communities need investment here at home.

The result is an economy being squeezed from both directions: families are being asked to pay more for the things they need while the programs and tax credits that helped them afford those costs are being taken away.

I believe we should be doing the opposite.

I am fighting to lower the cost of health care, housing, food, child care, energy, and other everyday necessities. I am a proud cosponsor of H.R. 4849, the Protecting Healthcare and Lowering Costs Act, which would restore and expand the ACA premium tax credits and help millions of Americans afford health coverage. No entrepreneur should have to choose between investing in their business and paying their health insurance premium.

I am also a cosponsor of H.R. 6088, the Restoring Food Security for American Families and Farmers Act of 2025, which would reverse Republican cuts to the Supplemental Nutrition Assistance Program (SNAP) and help ensure families can put food on the table.

And I believe we need to address the costs that have been squeezing California families for far too long. That means building more affordable housing and expanding the Low-Income Housing Tax Credit, expanding access to affordable child care, raising the federal minimum wage to $17 an hour, lowering health care and prescription drug costs, restoring investments that help families lower their energy bills, and ensuring every American has access to affordable health care through Medicare for All.

Protecting Families and Small Businesses from Costly Tariffs

Tariffs are taxes paid by American importers, and those costs can ultimately be passed along to consumers in the form of higher prices. They can also place an enormous burden on small businesses that do not have the resources of large corporations to absorb sudden increases in costs.

That is why I was relieved when the Supreme Court struck down President Trump's illegal tariffs in February. As a member of the House Ways and Means Committee, which has jurisdiction over international trade, I am fighting to ensure that small businesses are made whole for the money they lost as a result of the Trump administration's reckless tariff policies.

I am also proud to cosponsor the Small Business RELIEF Act, which would provide refunds to the small businesses that were forced to pay these tariffs. Small businesses should not be left holding the bill for an unlawful trade policy they had no role in creating.

Supporting Small Businesses

Small businesses create 2 out of every 3 new jobs in our country, and it is my mission to help them do what they do best: create well-paying jobs, drive innovation, contribute to their communities, and strengthen the middle class.

As a former member of the House Small Business Committee, supporting entrepreneurs has been a central part of my work in Congress. I have fought to expand access to capital, strengthen our workforce, and ensure that women, immigrants, and historically underserved entrepreneurs have the resources they need to start and grow successful businesses. 

Small Business Development Centers

I am proud to have brought the first two Small Business Development Centers (SBDCs) to the San Gabriel Valley: the SBDC hosted by Pasadena City College and the SBDC hosted by the University of La Verne. 

SBDCs are partnerships between the Small Business Administration (SBA) and local colleges and universities that provide free, confidential assistance to entrepreneurs and small business owners. They give local entrepreneurs access to one-on-one help with everything from developing a business plan and marketing their products to accessing financing and growing their businesses. 

In 2024, the San Gabriel Valley’s first SBA-backed Women’s Business Center (WBC) opened its doors and is now in operation alongside the SBDC at Pasadena City College. This WBC provides specialized support and resources to women entrepreneurs, helping more people turn their ideas into successful businesses and strengthening our region’s vibrant and diverse small business community. 

Expanding Access to Capital

Financial capital is critical for small businesses. It allows entrepreneurs to invest in new equipment, hire employees, and expand their operations, and invest in their future. Unfortunately, too many small businesses, particularly those in historically underserved communities, still struggle to obtain affordable financing. 

That is why I successfully fought to pass the Commercial Real Estate and Economic Development (CREED) Act into law in 2015, which allows small businesses to use the SBA’s 504 loan program to refinance eligible commercial real estate debt, giving more businesses access to lower-interest, long-term, government-backed financing. Because the program is funded through SBA fees, this support comes at no cost to taxpayers. 

I have also fought to strengthen the SBA's Community Advantage loan program, which helps fill gaps in the traditional lending market by providing capital and technical assistance to small businesses that may not qualify for conventional financing. Community Advantage has a strong record of reaching women- and minority-owned businesses and other underserved entrepreneurs.

Although the Community Advantage program has become a long-term part of SBA lending, it has never been explicitly authorized in federal law. That is why I introduced the Community Advantage Loan Program Act to permanently authorize the program and ensure that underserved entrepreneurs continue to have access to the financing and technical assistance they need.

Investing in Main Street and Supporting Entrepreneurs

An overwhelming majority of small businesses are turned away for conventional loans by banks, and only a tiny fraction receive third-party investments. This is why we rely on the SBA to help fill this gap in access to capital. Small Business Investment Companies, or SBICs, are SBA-backed institutions that provide both equity and debt investments to high-potential startups. SBICs have helped companies like Costco, Apple, and Intel get off the ground when they were considered small businesses. But a 60 year-old law—the Small Business Investment Act of 1958—put a cap on the amount that traditional banks or federal savings associations can invest in SBICs. My bill, the Investing in Main Street Act, would modernize that outdated law to triple the percentage of capital and surplus that a bank or federal savings association may invest in SBICs. This bill already passed by the House of Representatives, and I am working towards getting it through the Senate and signed into law.
 

Helping Small Business Recover from the Eaton Fire

The January 2025 Los Angeles fires devastated communities across Southern California, including the Eaton Fire in our district. The fire destroyed businesses, displaced workers, and caused enormous economic harm in Altadena and surrounding communities. Studies have estimated $297 million in total wage losses in areas affected by the fires.

Helping our small businesses recover and ensuring that locally owned businesses can remain part of these communities has been one of my top priorities throughout the recovery.

The Small Business Administration has approved billions of dollars in disaster assistance for homeowners and businesses affected by the fires. But I have also heard directly from small business owners who are hesitant to take on additional debt, particularly when many are still paying off loans they took out to survive the COVID-19 pandemic.

That is why I led several of my California congressional colleagues in calling on the SBA to establish a Hardship Accommodation Plan for fire-related Economic Injury Disaster Loans (EIDLs), which would allow eligible small business owners to temporarily make reduced monthly payments while they recover.

My office is also here to help. If you or someone you know is experiencing an issue with an SBA loan or another federal agency, please contact my office for assistance here.

Supporting Immigrant Entrepreneurs 

Immigrant entrepreneurs are an essential part of the San Gabriel Valley's economy. They create jobs, strengthen our Main Streets, and contribute enormously to the economic vitality of our communities. Federal policy should help these entrepreneurs succeed, not put new barriers in their way.

Unfortunately, the Trump administration has taken steps that make it more difficult for immigrant entrepreneurs to access federal resources.. As a result of the Administration’s “English-only” executive order, the SBA removed multilingual resources from its website. I led 100 House Democrats in a letter in calling on the SBA to restore these critical resources so that entrepreneurs with limited English proficiency can access the information they need to start and grow their businesses. The SBA has also restricted key lending programs to businesses owned entirely by U.S. citizens only. Under these restrictions, even a business that is just 1% owned by a lawful permanent resident would no longer qualify for SBA 7(a) or 504 loans. 

These restrictions hurt immigrant entrepreneurs and the communities that depend on their businesses. That is why I support the Investing in the American Dream Act, which would restore access to SBA lending programs for lawful permanent residents,, asylees, and refugees.

Creating Good-Paying Jobs and Growing Our Economy

A strong economy should work for everyone. That means creating good-paying jobs, investing in American manufacturing and innovation, strengthening our infrastructure and supply chains, and ensuring that economic growth reaches communities across the country.

I have worked throughout my time in Congress to make those investments and build an economy that creates opportunity for working families.

I helped pass the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law, which President Biden signed into law in 2021. This historic $1.2 trillion law invested in America’s roads, bridges, public transit, high-speed internet, clean drinking water, environmental justice, and under-resourced communities while supporting millions of good-paying jobs. These investments have delivered billions of dollars to California and are helping modernize the infrastructure our communities depend on every day.

I also worked with my bipartisan colleagues and President Biden to pass into law the CHIPS and Science Act in 2022. This law made critical investments in domestic semiconductor manufacturing, scientific research and development, and American supply chains while supporting high-paying jobs here at home. With world-class research institutions like Caltech in our district, these investments are especially important to maintaining our region's leadership in science, technology, and innovation.

On the House Ways and Means Committee, I worked with my Democratic colleagues to craft and pass the Inflation Reduction Act, which made the largest federal investment in clean energy in our nation's history. I fought to secure tax credits that lowered energy costs for families, supported American manufacturing, created good-paying jobs, and helped businesses and consumers transition to cleaner energy.

Unfortunately, President Trump and Republicans in Congress have since gutted key parts of these investments. Their One Big Ugly Bill accelerated the elimination of clean-energy tax credits that helped families make energy-efficient home improvements, install solar and other clean-energy systems, and purchase clean vehicles, while also rolling back incentives supporting clean-energy investment and jobs. I strongly opposed these rollbacks and will continue fighting to restore these investments, lower energy costs for families, and protect the good-paying American jobs they support.

Protecting Small Businesses During the COVID-19 Pandemic 

Small businesses were among the first and hardest hit by the COVID-19 pandemic. I worked quickly and on a bipartisan basis on the House Small Business Committee to provide emergency assistance that allowed businesses to keep workers on their payrolls and keep their doors open.

I helped expand the Economic Injury Disaster Loan (EIDL) program to businesses affected by COVID-19 and establish the Paycheck Protection Program. I also fought to ensure that relief reached the smallest and most underserved businesses by creating a $60 billion set-aside for community financial institutions and smaller lenders that were more likely to serve businesses owned by women and people of color.

In 2021, I worked with Democrats in Congress to pass the American Rescue Plan Act, which expanded eligibility for pandemic assistance and created new relief programs, including the Restaurant Revitalization Fund and the Hard Hit Industries Award Program. Together, these efforts helped thousands of small businesses survive an unprecedented economic crisis, protect their workers, and keep their communities running.