SBE Council Statement on the U.S. Treasury Department’s Proposed COINS Act Rule

By SBE Council at 26 October, 2026, 12:51 pm

FOR IMMEDIATE RELEASE

Washington, D.C. - On October 22, the Department of the Treasury issued a proposed rule regarding the Comprehensive Outbound Investment National Security (COINS) Act. The proposal would expand existing restrictions on outbound investment to include biotechnology, potentially risking unintended consequences for American small businesses in the sector.

Small Business & Entrepreneurship Council (SBE Council) President & CEO Karen Kerrigan issued the following statement in response:

"Protecting America's national security and technological leadership are indeed critical priorities. However, overly broad restrictions could create regulatory instability, discourage investment, and limit opportunities for America's small and mid-sized biotech companies, which create approximately half of new medicines globally.

"These innovative businesses rely on access to global scientific discoveries, investment, and partnerships to develop new treatments, create jobs, and compete internationally. Limiting these opportunities could stifle American innovation while handing Chinese competitors a competitive advantage.

"Protecting our national security and strengthening America's biotech industry should go hand in hand. Efforts to address legitimate security threats should not create unnecessary barriers for American small businesses and entrepreneurs that are driving medical innovation and economic growth. These are the core issues SBE Council will closely assess as we continue to review the proposal and provide detailed feedback as part of the rulemaking process."

CONTACT:

Karen Kerrigan: [email protected]

SBE Council is a nonpartisan advocacy, research, and education organization dedicated to protecting small business and promoting entrepreneurship. For more than 30 years, SBE Council has advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth.

Visit www.sbecouncil.org for additional information. X: @SBECouncil