U.S. Sen. Edward J. Markey (D-Mass.), the ranking Democrat on the Senate Small Business Committee and Sen. Cory Booker (D-N.J.) announced on April 25 the introduction of the New Start Act of 2025. This legislation would establish a five-year pilot program within the Small Business Administration (SBA) to award grants of $100,000 to $500,000 to organizations annually to provide entrepreneurial development training to individuals who are currently or formerly incarcerated.
The legislation was introduced in April, during Second Chance Month, which recognizes the important role of individuals, communities, and agencies across the country in supporting the safe and successful reentry of people returning home or returning to their communities from jails and prisons each year.
“Individuals who are currently or formerly incarcerated deserve to be able to participate fully in society and not be locked out of the labor market,” said Markey. “This legislation would help decrease barriers to entry for these individuals who either wish to become an entrepreneur or must strike out on their own due to labor market discrimination, by providing economic stability, opportunity, and investment through the Small Business Administration.”
“Starting a small business can be transformational for formerly incarcerated people and can be a pathway to overcome the barriers in an economy that is not built for them, through higher quality jobs, increased wages, and meaningful job experience,” said Booker. “The New Start Act is legislation that invests in the futures of currently and formerly incarcerated people by providing training and resources to those want to become entrepreneurs and start their own business. Everyone deserves a second chance, and this bill allows individuals exiting prison to shape a new future for themselves, contribute meaningfully to their communities, and break the cycle of recidivism.”
Ron Busby Sr., the president and CEO of U.S. Black Chambers Inc., said he embraces the legislation as it addresses major disparities and offers hope.
“Nearly one-fifth of Black men in America will face incarceration at some point in their lives,” said Busby. “That’s not just a statistic — it’s a call to action. The New Start Act answers that call by investing in entrepreneurial training for those who are incarcerated, helping ensure that when they return home, they return with purpose. By empowering returning citizens to become business owners and job creators, we not only reduce recidivism — we build stronger families, stronger communities, and a stronger economy. USBC proudly supports this effort to make reentry about opportunity, not just survival.”
The legislation is also endorsed by: National Urban League, Brennan Center for Justice, the Center for Entrepreneurial Opportunity, America’s Small Business Development Centers (ASBDC), The REACH Initiative, Accompanying Returning Citizens with Hope, United Men of Color.
Natalie Cofield, president and CEO of the Association for Enterprise Opportunity, emphasized the bill “is timely legislation that will catalyze critical support for justice-impacted individuals by providing resources and training to help them pursue entrepreneurship as a means to economic reintegration and self-sufficiency.”
“We commend the committee for championing this important issue and urge swift passage of the New Start Act of 2025,” she said. “Together, we can unlock the power of entrepreneurship to restore dignity, reduce recidivism, and foster economic mobility for returning citizens.”