United States: Government Policy & Public Finance

The U.S. Small Business Administration has proposed a sweeping overhaul of its size standards that would consolidate nearly 1,000 industry-specific classifications into 338 broader categories while significantly raising eligibility thresholds across multiple sectors. The proposed changes would expand small business eligibility for federal contracting programs, potentially affecting over 114,000 firms and more than $71 billion in contract awards, with some industries seeing threshold increases from $34 milli

The Committee on Foreign Investment in the United States (CFIUS) reviewed 347 covered transactions in 2025, marking the first full year under the Trump Administration's America First Investment Policy. Despite facing the longest government shutdown in US history, CFIUS maintained active operations while launching a new Known Investor Pilot Program designed to fast-track investments from trusted jurisdictions while maintaining heightened scrutiny on China-linked transactions.

The Centers for Medicare and Medicaid Services has issued a Final Rule prohibiting federal Medicaid and CHIP reimbursement for certain gender-affirming healthcare treatments for minors, including puberty blockers, cross-sex hormone therapy, and surgical interventions. The purpose-based restriction creates exceptions for the same treatments when used for other medical purposes, while maintaining coverage for mental health counseling and medically verifiable disorders of sexual development.