(Just The News)—The U.S. House has passed legislation barring all noncitizens, except permanent residents from acquiring Small Business Administration loans.
The American Entrepreneurs First Act of 2025, which passed in a 217-190 vote Friday, would require the SBA to verify the citizenship status and age of every applicant, codifying reforms recently implemented by the agency.
If the bill passes the Senate and becomes law, the SBA will permanently exclude illegal immigrants, refugees and asylees, visa holders, DACA recipients or nonimmigrants from obtaining taxpayer-funded SBA loans. It would also disqualify companies partially or completely owned by such individuals.
Co-sponsor of the bill, Rep. Beth Van Dunye, R-Texas, told lawmakers Friday that the legislation is “just common sense.” She added that it does not prohibit lending based on applicants’ nationality — as some Democrats have contended — but rather is based on legal residency or status.
President Donald Trump has made immigration policy, including halting taxpayer-funded subsidies for foreign nations, a key focus in his second term. He issued an order in February directing all federal agencies to cease funding public benefits for foreign nationals residing illegally in the U.S.
Yet House Whip Katherine Clark, D-Mass., told constituents that the bill “is a solution in search of a problem” that will harm American small businesses.
“Applying onerous, unfunded paperwork requirements at SBA and making it harder for U.S. small businesses to access funding – all while President Trump’s tariffs wreak havoc on them – is hypocrisy at its finest and will result in small businesses across the country closing or never getting off the ground to begin with,” Clark said Friday.
The bill’s proposed age verification requirement is a less contentious issue among lawmakers. An investigation by the Department of Government Efficiency found that between 2020 and 2021, SBA doled out thousands of loans worth $333 million to applicants over 115 years old, and thousands more, worth $300 million, to borrowers under 11 years old.
SBA Administrator Kelly Loeffler praised the bill in a post-passage statement as a step toward greater transparency and better stewardship of taxpayer dollars.
“Illegal aliens and fraudsters have no right to taxpayer-backed loans at the SBA,” Loeffler said. “With these common-sense guardrails, the American Entrepreneurs First Act will help put our deserving job creators first.”
The Biggest Threat to Your Retirement Is Actually a Very Good Thing
When you look at the headlines today, you’ll see experts in the retirement industry warning about big threats to your financial security:
- De-dollarization and the rise of BRICS
- Soaring national debt
- Unstable interest rates
- Weakened U.S. dollar
All of these are real concerns. But they aren’t the biggest threat to your retirement savings. The true risk isn’t political, monetary, or global.
It’s longevity.
Why Longevity Is the Silent Threat
For most of human history, the problem was the opposite — life expectancy was short, and few people even reached retirement. Today, thanks to medical advancements, healthier lifestyles, and better living conditions, people are living longer than ever before.
And while that’s a wonderful thing, it comes with a financial catch: Your retirement account has to last far longer than you might expect.
- A 65-year-old couple today has a 50% chance that one of them will live to 90.
- Some projections suggest that many of us will live well into our 90s, even 100+.
- This means your nest egg may need to stretch not for 15 years, but 25, 30, or even 40 years.
That’s where the real danger lies: running out of money before you run out of life.
The Retirement Equation Has Changed
While market volatility, debt crises, or central bank policies may feel like the scariest threats, they’re temporary storms. Longevity, however, is a structural shift. Every extra year of life is another year of expenses, another year of inflation erosion, and another year of financial pressure.
If your retirement plan doesn’t account for longevity, you could face tough choices later in life — downsizing, working when you’d rather not, or becoming financially dependent on others.
How to Take Control
The good news? Longevity is a blessing — as long as you’re prepared for it. With the right planning, your retirement savings can work for you instead of against you. The key is learning how to protect your wealth, outpace inflation, and ensure your savings grow even as you live longer.
That’s why our friends at Augusta Precious Metals created a free resource to help you get started:
👉 Get Instant Access to the report, “How to Take Full Control of Your Financial Future”
This brief report will show you practical strategies to safeguard your retirement from the biggest threat of all — the one that comes from the gift of living longer.
Don’t let longevity catch you unprepared. Take the steps today to secure tomorrow.
