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119-s-1499119th CongressWALLET

New Start Act of 2025

Sponsored By: Senator Markey, Edward J. [D-MA]

Introduced

Summary

This bill would create the New Start Program to deliver focused entrepreneurial support for justice-impacted individuals. It funds competitive grants to organizations that train currently and formerly incarcerated people and link them to capital and federal small-business resources.

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  • Justice-impacted individuals gain access to entrepreneurship training, mentorship, and connections to capital, with programs designed to serve people still incarcerated who will be released within 18 months as well as those already released.
  • Nonprofits and small-business support providers, including small business development centers, women's business centers, SCORE chapters, microloan intermediaries, and Community Advantage lenders, can receive annual grants of $100,000 to $500,000 for five years; grants must be geographically dispersed and awards to women's business centers do not count toward the maximum.
  • Grantees must link participants to federal resources such as SBA section 7(m) programs, SBDCs, WBCs, SCORE, Veteran Business Outreach Centers, and MBDA centers and must submit annual reports on participation, loan activity, and outcomes.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 3 benefits, 0 costs, 1 mixed.

Grants for justice-impacted entrepreneurs

If enacted, this bill would create the New Start Program to fund entrepreneurial training for people impacted by incarceration. The Administrator must set up the program within 180 days and run it for five years. Grants would pay each recipient between $100,000 and $500,000 per year and must be spread across U.S. regions. Applicants must show who they serve, a curriculum, lender connections for formerly incarcerated people, outreach and evaluation plans, and may partner with other organizations.

Grantees must link participants to federal help

If enacted, Program grantees would be required, to the maximum extent possible, to connect formerly incarcerated participants to a list of federal small-business resources. Those resources include SBA reentry programs, Community Advantage lenders, small business development centers, women's business centers, SCORE, Veteran Business Outreach Centers, and MBDA centers. The rule is a referral requirement, not a direct cash benefit.

Current small-business reentry program preserved

If enacted, the bill would say the New Start Program cannot be read to change the existing SBA reentry program. It would preserve the old program's rules, how it is run, and availability of its funds. This clause protects current authorities and funding paths.

Funding authorized with no set amount

If enacted, the bill would authorize "such sums as are necessary" to run the New Start Program but would not set a dollar amount or fiscal year. Actual money and program size would depend on future Congressional appropriations. Households would only see benefits if Congress provides funds.

Sponsors & CoSponsors

Sponsor

Markey, Edward J. [D-MA]

MA • D

Cosponsors

  • Sen. Booker, Cory A. [D-NJ]

    NJ • D

    Sponsored 4/28/2025

Roll Call Votes

No roll call votes available for this bill.

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