IIB 
119TH CONGRESS 
1ST SESSION H. R. 2965 
IN THE SENATE OF THE UNITED STATES 
DECEMBER 4, 2025 
Received; read twice and referred to the Committee on Small Business and 
Entrepreneurship 
AN ACT 
To require the Administrator of the Small Business Adminis-
tration to ensure that the small business regulatory 
budget for a small business concern in a fiscal year 
is not greater than zero, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Small Business Regu-
latory Reduction Act of 2025’’. 
SEC. 2. SMALL BUSINESS ADMINISTRATION RULEMAKING 
COSTS TO SMALL BUSINESS CONCERNS. 
(a) DEFINITIONS.—In this section: 
(1) ADMINISTRATOR.—The term ‘‘Adminis-
trator’’ means the Administrator of the Small Busi-
ness Administration. 
(2) RULE; RULEMAKING.—The terms ‘‘rule’’ 
and ‘‘rulemaking’’ have the meanings given those 
terms in section 551 of title 5, United States Code. 
(3) SMALL BUSINESS.—The term ‘‘small busi-
ness’’ has the same meaning as the term ‘‘small 
business concern’’ under section 3 of the Small 
Business Act (15 U.S.C. 632), unless an agency, 
after consultation with the Office of Advocacy of the 
Small Business Administration and after oppor-
tunity for public comment, establishes one or more 
definitions of such term which are appropriate to the 
activities of the agency and publishes any such defi-
nitions in the Federal Register. 
(4) SMALL BUSINESS REGULATORY BUDGET.— 
The term ‘‘small business regulatory budget’’ means 
the cost to a small business of a rulemaking con-
ducted by a Federal agency, including the cost re-
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sulting from the issuance of any new rule and the 
cost resulting from the modification or repeal of an 
existing rule. 
(b) REQUIREMENT.—In fiscal year 2026 and each 
fiscal year thereafter, the Administrator shall ensure that 
the small business regulatory budget for the Small Busi-
ness Administration for the applicable fiscal year is not 
greater than zero. 
(c) ADVOCACY REPORT.—Not later than 60 days 
after the end of fiscal year 2025, and annually thereafter, 
the Chief Counsel for the Office of Advocacy of the Small 
Business Administration shall submit to Congress a report 
regarding rules issued by Federal agencies other than the 
Administration during the preceding fiscal year that have 
an impact on small businesses, which shall— 
(1) include the total small business regulatory 
budgets for the preceding fiscal year for each Fed-
eral agency; 
(2) include each such rule issued during the 
preceding fiscal year; and 
(3) be disaggregated by the Federal agency that 
issued each such rule. 
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SEC. 3. NO ADDITIONAL FUNDS. 
No additional funds are authorized to be appro-
priated to carry out this Act. 
Passed the House of Representatives December 3, 
2025. 
Attest: 
KEVIN F. MCCUMBER, 
Clerk. 
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