Nydia Velázquez

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Chairman, there are nearly 30 million small businesses in the United States representing more than 99 percent of all businesses. They spur the American economy by taking great risks to launch new ventures, develop new products, and, ultimately spur job growth, and the SBA is a vital part of their support system. The SBA administers a portfolio of entrepreneurial development programs which includes growth accelerators. They help high-growth startups develop their products, identify promising customer segments, and secure resources like vital capital and employees. My amendment aims to restore funding to prior levels, so they have the resources they need to help aspiring entrepreneurs. Growth accelerators have long been a powerful tool for helping innovators grow. Each year since they were formed in 2005 they have gained in popularity. In fact, their numbers nearly doubled each year between 2008 and 2014 with growth remaining steady since then. They serve as an all-inclusive creative hub that provides technical assistance for growing businesses and a central location for investors to find vetted businesses. The success of these companies is real. The average valuation of firms graduating from an accelerator is $90 million. But beyond promoting business expansion, growth accelerators also bring economic development and job opportunities to the communities in which they are located. The SBA Office of Advocacy found that startups working with their local accelerator hire an average of 8.5 more employees. Small businesses are the backbone of the American economy, and we should provide our entrepreneurs with the resources they need to succeed, and that is what this amendment does. I am seeking to bring growth accelerators up to a reasonable funding level by providing a $1 million increase. Doing so brings the funding in line with previously enacted levels and gives them the ability to continue helping our Nation's innovative startups and spurring job creation. Clearly, Mr. Chairman, accelerators are a vital part of our Nation's entrepreneurial ecosystem. Therefore, I urge my colleagues to support this amendment, and I yield back the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise today to recognize Nadine Whitted, life-time resident of the Bushwick community and former Brooklyn Community Board 4 District Manager. Ms. Whitted retired in 2016 but her leadership and advocacy efforts continue today. She is considered a model civil servant by her community and colleagues in government. Her career spans an impressive 30 years of public service. Born in Brooklyn, New York, Nadine is the second child born to Rose Rucker and Emerson Whitted. According to her family, Nadine exemplified leadership qualities and an interest for public service at a young age. In 1977 during the New York City fiscal crisis, Ms. Whitted was hired as an Administrative Aide for Community Board 4 approximately three days prior to the Black Out of July 1977. This event detrimentally impacted the quality of life, infrastructure and Bushwick's economic development for decades. Ms. Whitted was determined to be part of her neighborhood's revitalization. Within two years she was promoted to the position of Assistant District Manager, under this new role she strengthened her skills and diligently fostered relationships with city agencies, elected officials and stakeholders to help craft a community led revitalization project. The neighborhood's distinction as the poorest community district in the city fueled Ms. Whitted. Her efforts resulted in her promotion to District Manager in 1986. From 1986 to 2016 she served as District Manager with distinction. Her effective management skills and leadership were instrumental in the success of major projects ranging from the delivery of essential services, street lighting along commercial corridors and the development of large scale affordable housing and open space. Nadine Whitted remains a champion of the Bushwick, Brooklyn community. I thank her for dedication and decades of public service. It is my honor to recognize her on this special occasion of the Shape Up Bushwick 14th Annual Parade.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise in support of this legislation. Let me thank Speaker Pelosi, Chairman Nadler, Chairwoman Lofgren, Lucille Roybal-Allard, and Yvette Clarke for all their work on this legislation. Today, because of Donald Trump's anti-immigration policies, millions of immigrants across the country live in constant fear that they will face deportation and potentially be separated from their families. Among these immigrant communities are recipients of TPS, or temporary protected status, or DED, deferred enforced departure. The portions of this bill I authored say, if you have been here in the U.S. for 3 years and have been here since January 2017, then you can apply for legal permanent residence and, from there, pursue citizenship. When we talk about our TPS and DED populations, we are talking about some of our most vulnerable neighbors. These are people who fled natural disasters or political violence. They came here with the heartfelt belief that the words inscribed at the base of the Statue of Liberty, ``Give me . . . your huddled masses yearning to breathe free,'' are not a hollow tourist attraction. Those words are a sacred American compact, etched into the character of our Nation. And, today, as we launch Immigrant Heritage Month, House Democrats are going to prove to the Dreamers, TPS recipients, and those in the DED program the words on the base of the statue are a promise we will honor. Madam Speaker, those in the TPS community are our neighbors. The average TPS recipient has been in the Nation for two decades, and almost a third arrived in the U.S. younger than age 18; they have built entire lives here, many have American-born children. Deporting them will be cruel; it will be inhumane; it will cause enormous economic disruption; and it would not be the America that we love and that we know. We cannot let that happen. For these reasons, I urge my colleagues to do what they know is right. Vote ``yes'' on this bill. Let's send a strong message to the world that we recognize that immigrants make America America.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Chair, I am ready to close. Madam Chair, more than 40 years after Congress first passed HMDA, the evidence continues to demonstrate that countless Americans still face loan discrimination by mortgage lenders. Data is the tool that makes it possible to fight discrimination. My amendment puts us back on the right track by ensuring this information remains available. Madam Chair, I urge Members to support this amendment, and I yield back the balance of my time.

Ms. VELAZQUEZ. Madam Chair, I have an amendment at the desk.

Ms. VELAZQUEZ. Madam Chair, I rise to offer this amendment to restore and protect important provisions of the Home Mortgage Disclosure Act. More than four decades after Congress passed HMDA, the evidence continues to suggest that racial minorities, women, and some rural residents still face loan discrimination by mortgage lenders. In fact, a recent report from the Center for Investigative Reporting found that modern-day redlining has occurred in 61 metropolitan areas around the country. Unfortunately, however, last year Congress voted to roll back enhanced HMDA protections passed under the Dodd-Frank Act, exempting 85 percent of all banks and credit unions from reporting loan characteristics vital to ensuring lending fairness. My amendment will reverse this shortsighted decision. It reinstates the requirement put in place by Dodd-Frank that any bank or credit union that makes more than 25 mortgage loans per year or 100 home equity lines of credit report detailed loan characteristics. My amendment will establish additional safeguards to defend HMDA from further assault by the Trump administration and those who seek to destroy it by: Prohibiting the CFPB from making further HMDA modifications to exempt additional institutions from complying with its reporting requirements; Barring the CFPB from making further modifications to eliminate HMDA data fields that are otherwise required to be collected and reported; and Preventing the CFPB from retiring its HMDA Explorer and the public data platform, both of which are critical to the public's ability to access loan level data and root out discrimination in their communities. These protections are not just preventive measures but needed reforms. Just this month, the CFPB released proposals to further erode HMDA requirements. The public's access to mortgage data is essential to promoting fair lending, homeownership, and stronger communities. As the saying goes, sunlight is the best disinfectant. My amendment brings badly needed transparency to the home mortgage process, shining a light and helping us root out discrimination. Madam Chair, I reserve the balance of my time.

Ms. VELAZQUEZ. Madam Chair, may I inquire how much time I have remaining.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, a mile from my district sits The Stonewall Inn, the site where, five decades ago, Americans took to the streets to fight back against hate and launch the modern movement for LGBT rights. In a few hours, this House will pay homage to that struggle as we vote on historic legislation to protect the fundamental rights of millions of Americans. The Equality Act will extend antidiscrimination protections to LGBTQ Americans. Sadly, from education to housing to credit, in so many areas, discrimination based on sexual orientation or identity remains legal. That is wrong, and this bill will, at long last, change that. Madam Speaker, this is an issue of moral character. It speaks to who we are as a Nation. For us individually, this vote speaks to who we are not just as legislators but as human beings. I implore all my colleagues to do what you know is right in your heart. Vote for equality. Vote for respect, kindness, and love. Vote to end bigotry and discrimination. Vote ``yes'' on the Equality Act.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Chair, I rise in support of this legislation. It has now been 2 years since Maria barreled into Puerto Rico inflicting historic damage, enormous suffering, and the loss of 3,000 American lives. Yet 20 months later, the people of the island continue struggling to recover and rebuild. Compounding this problem, Puerto Rico has exhausted funding for its nutritional assistance program, and the Governor has informed us they require $600 million to meet the food needs of the Commonwealth's most vulnerable. These are seniors, working single mothers, and those with disabilities. Let me remind my friends, in the U.S. Territory Puerto Rico, 65 percent of our children live in poverty. It is un-American to deny nutrition assistance to American citizens living in Puerto Rico, particularly children. That is immoral, and we should be ashamed that, in the richest country, most powerful country in the world, we have allowed for children to suffer this way. That is simply wrong. In January, we passed a package to address this, but the Senate has failed to act, even though a number of my Republican Senate colleagues have promised to deliver Puerto Rico the aid they so desperately need. Making matters worse, our President has repeatedly distorted and misled the American people about the amount of money Puerto Rico receives. We must remember, Madam Chair, those suffering in Puerto Rico are our fellow citizens. It is unacceptable that this President and Senate Republicans would abandon them. Importantly, the bill also instructs FEMA to rebuild in a manner that is more resilient and capable of withstanding future extreme weather. Maria taught us painful lessons, and it only makes sense that as the island recovers we provide it with the tools to rebuild and resist future hurricanes.

Ms. VELAZQUEZ. Madam Chair, I pray passage of this bill which rightfully assists so many other parts of the Union, of our Nation, will motivate the Senate at last to act and the President to sign this badly needed aid into law. This is a matter of life and death for so many in Puerto Rico. I urge a ``yes'' vote.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I thank the gentlewoman for yielding. Mr. Speaker, I rise in support of the rule and the underlying resolution. We should be absolutely clear: There is no crisis at our border. In fact, apprehensions of illegal border crossings are at a 40-year low. This is a fake emergency being used as a pretext for Donald Trump to build a monument to hate on our southern border. But this is more than that. This administration's actions would do violence to our Constitution, undermine our separation of powers, and set a terrible precedent for the future. Every single Member of Congress, regardless of party, needs to stand up and make their voice heard. To all my Republican colleagues who so frequently extolled the Constitution's virtues, I say to you: Make your voice heard today. Now is the chance to show your true colors, to defend Article I, and to stand up for Congress' constitutionally vested powers of the purse. Vote ``yes'' on the rule; vote ``yes'' on the resolution; stand up for the Constitution; and reject this illegal power grab by this President.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise today to recognize the 20th Anniversary of the Chinatown Lunar New Year Parade in New York City organized by the Better Chinatown USA. The Lunar New Year is the most important traditional event celebrated for thousands of years by Asian and Pacific Islanders in New York and around the world. This is a time to pay homage to one's ancestors, enjoy family reunions, great food and other traditions. The Better Chinatown USA, a community volunteer-based organization, is dedicated to bringing people together and providing services that promote the culture, tradition and contributions of Chinese Americans in New York. In the aftermath of 9/11, the parade helped launch the economic rebound of Chinatown's small business community. The event started with just 500 marchers and a local Chinatown audience but has grown to encompass more than 20,000 participants, 80 floats, lion and dragon dances, acrobats and marching bands. Today, the parade draws more than half a million spectators from the East Coast and abroad. Better Chinatown USA has enriched the cultural fabric of my district and New York City. Festivals like these showcase the strength and diversity of our immigrant neighborhoods. That is why I am proud to represent the Manhattan and Brooklyn Chinatown communities. Madam Speaker, as we mark the Year of the Pig, please join me in congratulating the Better Chinatown USA Lunar New Year Parade on its 20th year anniversary and for its public service to the New York community. I wish them continued success.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise to honor my friend, Shirley Rodriguez Remeneski, a dear friend and fellow New Yorker who passed last week. Shirley was an inspiration to all of us, a trailblazer and a leader. To me, she was a friend. Her passion was for people and community and her rich career encapsulates those values. In 1965, she created and directed the first Social Services Unit in the Bronx Borough President's Office under the leadership of Herman Badillo and, later, Robert Abrams. Six years later, she became the District Administrator for then-Congressman Herman Badillo, serving as a vital bridge between New York City and Washington, D.C. Shirley's next step was in the Koch Administration, working as Assistant Deputy Mayor for affirmative action, intergovernmental relations, and community development in South Bronx, Harlem and other underdeveloped areas in New York City. When President Carter visited South Bronx, calling it the nation's disgrace, Shirley became the Legislative Coordinator for the South Bronx Development Organization. In that role, she secured funding for vital programs like Bathgate Industrial Park and the Charlotte Gardens Housing Development Project. She helped to create the South Bronx Job Corps Center, and other land revitalization projects. By helping South Bronx become an Empowerment Zone, she channeled needed business development and economic opportunity to the area. Later, as Executive Director of Governor Mario Cuomo's Office for Hispanic Affairs she initiated the Puerto Rico Exchange of Officials Program to enhance governmental services to Puerto Ricans on the island and in New York state. In 2002, Governor Pataki appointed her Senior Vice President at the Empire State Development Corporation's Economic Development Division. While Shirley's professional accomplishments are impressive, to me she was so much more. For 35 years she was one of my closest friends. We traveled together and Shirley's love for people always shined through wherever we went. She loved entertaining and her house became a gathering place for all the women she had mentored and empowered. No one could throw a party like Shirley and I'll remember many nights of food, drink and, most of all, lots of laughs and warm company in her home. She truly meant the phrase Your house is my house (Su Casa es mi Casa). She always said she adored my Tina Turner impression. I'll do it again for Shirley when I next see her. I'll miss my dear friend, Shirley Rodriguez Remeneski. Her soul was infused with a passion for improving her community, for serving others and for strengthening New York. In every position she served, she brought a tireless commitment to positive change and an infectious energy that made those around her feel no obstacle was insurmountable. I send my prayers and thoughts to Shirley's family. May they take comfort in knowing our community mourns with them and that our city will continue paying homage to her myriad contributions.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I thank the chairwoman, Maxine Waters, and the ranking member, Mr. McHenry, for this important resolution. Last week, Democrats stood united and ended the longest government shutdown in history. We should be clear: This shutdown was caused solely by President Trump's personal obsession with the border wall. Roughly 800,000 Federal workers were either furloughed or forced to work without pay. More than 1 million contractors were forced to miss multiple paychecks. Now, Donald Trump may not relate to this, but for these workers, this means bills piling up. It means choosing between putting gasoline in your car or groceries in your refrigerator. Throughout the shutdown, my office was in contact with several financial institutions and companies that were offering forbearance options, waiving late fees, and providing short-term, no-interest loans for affected workers. That is admirable, and I thank them. However, the media also reported on numerous workers who were forced to take out personal loans and cash advances on credit cards, or who even turned to predatory payday loans to make ends meet. For example, NBC News recently reported on one company offering personal installment loans that had seen an uptick in customers looking to use their products. It is perhaps no coincidence that this uptick coincided with a nearly 19 percent rise in the company's stock since the shutdown began. This is unconscionable. Financial institutions and companies should not be preying on Federal employees or contractors who went nearly a month without pay. Instead, they should be working with those affected to get them back on track and rebuild their lives. Mr. Speaker, I thank Chair Waters for offering this important resolution to further that goal, and I urge all my colleagues to vote ``yes.''

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I rise in support of H.R. 624, the Promoting Transparent Standards for Corporate Insiders Act, bipartisan legislation sponsored by Chairwoman Waters and Ranking Member McHenry. Mr. Speaker, our Nation's financial markets are safer and more efficient when they are transparent. Unfortunately, those that participate in insider trading damage the structure and integrity of our financial markets by engaging in practices outside of the public's view, profiting on information that is only known to a select few. This nefarious practice damages ordinary, hardworking Americans who invest in pension funds, 401(k)s, mutual funds, and other retirement vehicles. As lawmakers, we must remain ever vigilant and seek to root out this illegal practice before it starts. Currently, SEC regulations permit corporate insiders to evade insider trading rules by allowing them to adopt multiple trading plans and make select changes to their predetermined trading plans. H.R. 624 closes this loophole by requiring the SEC to study and analyze the effectiveness of its current insider trading rules while also considering any rule change's impact on capital formation and a company's willingness to go public. Further, the bill requires the SEC report to Congress on its finding and draft rules consistent with the results. This carefully crafted piece of legislation is an important step to closing a loophole in our Nation's insider trading laws. Mr. Speaker, I want to take this opportunity to commend Chair Waters and Ranking Member McHenry for working in a bipartisan manner on this bill. I hope it is the first of many bipartisan bills we can bring to the floor from the Financial Services Committee in the 116th Congress. Mr. Speaker, I urge the speedy adoption of this important measure.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Chair, I yield 1 minute to the gentlewoman from Ohio (Ms. Kaptur).

Ms. VELAZQUEZ. Madam Chair, I yield back the balance of my time.

Ms. VELAZQUEZ. Madam Chair, I rise to discuss an environmental and humanitarian crisis affecting the people of San Juan. For decades, Cano Martin Pena has been a repository for sewage overflow, mercury, and PCBs. The Cano Martin Pena was once a navigable and commercially used channel. Today, it is so clogged that it is possible to walk across it on some parts. Due to the clogging, the approximately 25,000 U.S. citizens who live near the Cano Martin Pena face significant public health and safety challenges. Combined stormwater and the regional sewage system contribute to high concentrations of coliforms in the channel. Frequent flooding is a constant risk that can put residents into direct contact with polluted water. Exposure to these polluted waters causes an elevated risk of gastrointestinal diseases and a higher prevalence of chronic diseases and asthma. Sadly, we often see these ailments in children 5 years old and younger. Those who reside near the canal live in constant fear that the next rainfall could become a major flood, dumping raw sewage into homes, schools, and businesses. After the 2017 hurricanes, which exacerbated the Cano Martin Pena crisis with greater flooding, the communities that live near the 3.7 miles of this channel need our help more than ever. Because of the hurricanes, more than 1,200 families partially or totally lost the roofs of their homes, and 70 percent of the community flooded with wastewater in the immediate aftermath. These are the working people of San Juan, with one of the highest labor participation rates in the island. All they want is to be able to raise their families in safe and healthy communities. If we are ever to bring justice to these afflicted communities, we must dredge this canal and work toward its long-term remediation. Puerto Rico has spent millions of dollars attending to the problem, but without additional Federal funds, this project will stall. The U.S. Army Corps of Engineers is ready to initiate construction as soon as Federal funding is made available. My amendment will jump-start the most important flood mitigation project for Puerto Rico, ensuring the resiliency of critical infrastructure and doing justice to the working families living in this vulnerable area. Madam Chair, this is not only an environmental project but a pressing issue of social and environmental justice. The people who live along this troubled canal have suffered long enough, but Hurricanes Maria and Irma underscored how quickly these problems can worsen with extreme weather. We have an obligation to act before the next hurricane or flood. Madam Chair, I have been there and seen with my own eyes the devastation and hardship caused by this ecological disaster. I have seen children wading in contaminated waters after every heavy rainstorm. I ask my colleagues to join me in helping Puerto Rico by voting in support of this amendment.

Ms. VELAZQUEZ. Madam Chair, I rise to offer my amendment, No. 5.

Ms. VELAZQUEZ. Madam Chair, I rise in support of my amendment.

Ms. VELAZQUEZ. Madam Chair, I rise in support of my amendment, which I believe will make meaningful strides to help alleviate problems of poverty and hunger in Puerto Rico. Unlike the States, Puerto Rico has been forced to work with the limited NAP block grant since 1982. This has led to a systemic underfunding of the nutritional needs of these American citizens for nearly 4 decades. Sadly, with a severely restricted budget resulting in reduced benefits and eligibility on the island, we are leaving thousands of families hungry every day. Already tragic, these problems were made worse when Hurricanes Irma and Maria made landfall. Puerto Rico was devastated, leaving a large share of the population out of work and unable to meet their basic needs. In the year since the immediate aftermath, the island is still suffering. Poverty levels have risen dramatically and the economy continues struggling. Sixty percent of the children in Puerto Rico live in poverty. This has meant an increase in the share of individuals who would otherwise be eligible for NAP, except for the fact that the program is capped. NAP is simply incapable of meeting the needs of Puerto Ricans, particularly given the current circumstances resulting from the disaster. The underlying bill we are debating today will provide Puerto Rico with an additional $600 million for disaster food assistance. I thank the chairwoman for including this critically needed funding. This funding, and previously appropriated disaster resources, address two critical needs in Puerto Rico. First, it is providing NAP recipients with a bit more support to feed their families. Second, it aids an additional 200,000 people who lost their jobs and homes. However, I believe Hurricanes Maria and Irma taught us some painful lessons with regard to nutritional support in Puerto Rico. We should be evaluating the benefits that adequate nutritional assistance has on Puerto Rican's health and economy. My amendment would provide up to $5 million to support the Commonwealth in conducting such a study. This will be an independent analysis that includes a survey of NAP participants on the island and fully investigates the impact disaster nutrition assistance has on the food security, health status, and well-being of the people of Puerto Rico. I should note that the USDA conducted similar studies for the SNAP program that operates in 53 jurisdictions during and after the Great Recession. It is my hope that this analysis will provide Congress with additional insight and tools to further reduce poverty, hunger, and hardship on the island. Madam Chair, I urge my colleagues to support this amendment, and I yield back the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, as of this week, the Trump shutdown has become the longest government shutdown in American history. It is bad enough that the President has doubled down on his demand for a senseless, expensive, and hateful border wall. It is even worse that he is holding Federal workers hostage, needlessly inflicting pain and suffering on dedicated public servants. Last week, Federal workers began officially missing a paycheck. These 800,000 workers, both employees and subcontractors, are fathers, mothers, brothers, and sisters. They have mouths to feed and mortgages to pay. They must put groceries on the table and gasoline in their car. Yet because one person in Washington decided to throw a political temper tantrum over a foolish wall, many of them are now having to cut expenses, endure sacrifices, and make tough choices in their family budgets. The latest outrageous development occurred when, last week, Donald Trump threatened to take disaster funds away from the Army Corps of Engineers to pay for this wall. He even suggested taking funding away from Puerto Rico as the island struggles to recover from historic hurricanes, the aftermath of which cost 3,000 of our fellow citizens their lives. Think about that. The President wants to take money away from Americans who are suffering from natural disasters in Puerto Rico, Texas, California, and elsewhere to fund a hateful wall aimed at demonizing immigrant communities. This is shameful and it is immoral. Now we have gotten word that HUD may be using the shutdown as a predicate for reducing disaster funding to the people of Puerto Rico. Last week, HUD put out a surprise notice claiming that the shutdown is preventing them from proceeding with disaster recovery efforts, funds Congress allocated on a bipartisan basis almost a year ago. Yet HUD's very own contingency plans dictate that shutdowns, under no circumstances, should affect disaster-related operations. I fear that Secretary Carson is playing politics with the shutdown and the people of Puerto Rico, putting the island's recovery at risk. Mr. Speaker, this shutdown must end. The President's shameful insistence on a border wall is harming our workers and families. Everything, from the food we eat to counterterrorism, to travel safety, is impacted by the Trump shutdown. And now HUD is threatening to inflict greater pain on those who have survived natural disasters. That is unacceptable. Mr. President, the American people implore you: Stop holding Federal workers and other Americans hostage. Stop threatening parts of our Nation that are recovering from natural disaster. Don't put people's lives at risk. Do your job. Reopen government, and get back to work.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the measure under consideration.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 206, the Encouraging Small Business Innovation Act of 2019. For almost 40 years, our Nation has experienced increased innovation and job creation through the Small Business Innovation Research program and the Small Business Technology Transfer program. As a direct result of these programs, breakthroughs have been made in a wide range of sectors, from agriculture, to energy, and most notably, healthcare. Research conducted by SBIR and STTR awardees has helped address our country's most important technological and research-based challenges while generating tremendous economic growth and employment opportunities. These programs encourage small firms, where much of today's cutting- edge ideas are born, to explore their potential while also providing the incentive to profit from its commercialization. Yet, as with any program, improvements can be made to further strengthen the program and its impact on our economy. By incentivizing more experienced SBIR and STTR firms to mentor newer companies and rewarding mentors through a past-performance rating increase, Congressman Rouda's legislation, H.R. 206, positively promotes integrating these program participants into the larger Federal marketplace. Just as we are concerned with the broader ability of SBIR and STTR firms to compete more broadly, it is important to ensure the participation of all businesses within the program. Just like with geography, when it comes to demographics, it is important that the SBIR and STTR are serving all entrepreneurs. This measure requires participating agencies to use part of their SBIR allocation to conduct outreach to minorities and underrepresented States by removing the waiver of this requirement from the statute. Doing so, guarantees that a wide range of ideas are provided the opportunity to thrive. Finally, H.R. 206 requires an annual summit of these agencies to share best practices to improve data collection and streamline processes across the programs. As a result, I believe this bill is crucial to modernizing the program and preserving our Nation's competitiveness. Mr. Speaker, I urge Members to support this legislation, and I reserve the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 206) to amend the small business laws to create certain requirements with respect to the SBIR and STTR program, and for other purposes.