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Oklahoma Senator James Lankford, along with his republican colleagues, introduced the Protecting Access to Credit for Small Businesses Act on Tuesday. This would forbid the Biden Administration from enacting their plan, which is to make the Small Business Administration a direct lender, thus forming competition against the government. Here is what Lankford said on the issue at hand:

“Oklahoma's community banks and credit unions work hard every day to make sure our small businesses have access to capital to sustain and grow. Forcing them to compete with the Small Business Administration to provide direct lending is one more way the Biden Administration is growing government and hurting private business.”

Lankford has long been against any attempt at federal overreach into the direct lending space. This legislation has several proponents, including the American Bankers Association and America's Credit Unions.