The Senate confirmed Kelly Loeffler on Wednesday in a 52-46 bipartisan vote to lead the Small Business Administration, making her the 18th cabinet official under President Trump. Nevada Democratic Sen. Jacky Rosen joined 51 Republicans in support, while 46 Democrats opposed. Republican Sens. Jerry Moran and Dan Sullivan did not vote. Loeffler, a former U.S. senator from Georgia, will now oversee the SBA’s roughly $1 billion budget, providing loans, grants, and financial guidance to small-business owners nationwide. Before her Senate appointment to fill the late Sen. Johnny Isakson’s term, she served as an executive at Intercontinental Exchange, a company led by her husband, Jeff Sprecher, who also chairs the New York Stock Exchange. Despite embracing Trump and running highly conservative campaign ads, she lost her runoff election to Sen. Raphael Warnock in January 2021.
During her confirmation hearing before the Senate Small Business Committee, Loeffler pledged to support Trump’s economic agenda, including ending inflation, cutting taxes, promoting energy independence, reducing regulation, and curbing government waste. She also vowed to donate her $200,000 annual salary as SBA administrator to charity, continuing a practice from her Senate tenure. Committee Chairwoman Joni Ernst praised Loeffler as “immensely qualified” and a strong advocate for entrepreneurs, noting that the SBA will conduct a “full-scale audit” to prevent improper spending. Despite past controversy over stock sales at the start of the COVID-19 pandemic, Loeffler’s business experience and leadership were highlighted as assets for managing the agency, especially in light of recent disasters like California wildfires and East Coast hurricanes.
Senate Majority Leader John Thune underscored Loeffler’s small-business roots, noting her upbringing on a family farm in Illinois, her work in soybean fields and local restaurants, and her status as the first in her family to graduate from college before launching a successful business career. Her appointment reflects both her business background and political alignment with Trump. Alongside Loeffler, the Senate confirmed Kash Patel as the next FBI director, signaling continued movement on key administration appointments.
