Former Senator Kelly Loeffler has been confirmed by the Senate to head the Small Business Administration (SBA). After clearing a key procedural vote earlier, Loeffler secured enough support to move forward to the final confirmation stage. A spokesperson for Loeffler emphasized her private sector background and alignment with the "America First" agenda, echoing President Trump's own career trajectory.
Loeffler, whose estimated net worth is around $1 billion, has pledged to continue her practice of donating her federal salary to charitable organizations nationwide. During her time in the Senate (2019-2021), she donated her $174,000 annual salary to over 40 Georgia-based charities and non-profits, encompassing organizations focused on food banks, religious groups, anti-abortion initiatives, foster care and adoption, healthcare, agriculture, education, law enforcement, and disaster relief.
Her professional background includes experience at prominent financial institutions, including Intercontinental Exchange, where she met her husband, Jeffrey Sprecher, the current chairman of the New York Stock Exchange. She also formerly held a minority ownership stake in the WNBA's Atlanta Dream.
Loeffler's confirmation process included a clash with Senator Edward Markey (D-Mass) regarding the Trump administration's freeze on federal funds and grants. Following the dismissal of SBA Inspector General Hannibal Ware, Senator Markey had called for a delay in Loeffler's confirmation until Ware was reinstated or a suitable replacement was confirmed. However, Senator Joni Ernst (R-Iowa), chair of the Senate Small Business & Entrepreneurship Committee, championed Loeffler as the ideal candidate, highlighting her business acumen and understanding of the challenges posed by government overreach.
