2 weeks Ago
President-elect Donald Trump on Wednesday announced former Sen. Kelly Loeffler as his pick to lead the Small Business Administration. “Kelly will bring her experience in business and Washington to reduce red tape, and unleash opportunity for our Small Businesses to grow, innovate, and thrive.
She will focus on ensuring that SBA is accountable to Taxpayers by cracking down on waste, fraud, and regulatory overreach,” Trump posted on Truth Social, also noting that she’s co-chairing his inauguration. There had been several discussions between Loeffler and the transition team regarding the role of Agriculture secretary, and CNN reported last month that Trump had been poised to offer her the position. But Trump held off from announcing his Agriculture pick as he issued a slew of others late last month, then eventually offered the role to Brooke Rollins .
Loeffler, who briefly represented Georgia in the Senate, had fundraised for Trump during the 2024 race and raised several million dollars for his campaign over the summer when she hosted a debate watch party with Republican National Committee Chair Michael Whatley. Several of Trump’s other Cabinet picks — including Sen. Marco Rubio and Rep.
Elise Stefanik — were at that party. Loeffler was among the wealthiest lawmakers during her short time in Congress. Her husband, Jeffrey Sprecher, is the CEO of the Intercontinental Exchange, which owns the New York Stock Exchange.
When running for election in 2020, she announced she and her husband were divesting from individual stocks amid sharp criticism over trades she and other lawmakers made ahead of the market downturn caused by the coronavirus. Appointed to the Senate by Georgia Gov. Brian Kemp over the wishes of Trump, Loeffler lost her seat in a 2021 runoff to Democratic now-Sen.
Raphael Warnock. Loeffler was a staunch Trump ally in Congress, saying prior to the violence on January 6, 2021, that she planned to vote against certifying her state’s electoral results in support of Trump’s broader effort to upend Joe Biden’s 2020 election victory. After the US Capitol attack, Loeffler backed off her objection, saying on the Senate floor: “When I arrived in Washington this morning, I fully intended to object to the certification of the electoral votes.
However, the events that have transpired today have forced me to reconsider, and I cannot now in good conscience object to the certification of these electors.” In the same speech, Loeffler condemned the violence at the Capitol, calling it “abhorrent.” Loeffler was among the witnesses who appeared before the grand jury as part of Trump’s 2020 election subversion criminal case in Georgia.
Before joining the Senate, Loeffler served as an executive at a financial services firm in Atlanta. She was also a co-owner of the WNBA’s Atlanta Dream. Loeffler would need to be confirmed by the Senate to lead the Small Business Administration.
Linda McMahon, a major Republican donor and Trump’s pick to be the next education secretary , served as the administrator of the agency during Trump’s first term. She resigned in 2019 to become the chair of America First Action, a pro-Trump super PAC. This story has been updated with additional details.
.
