Nydia Velázquez

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 to include any extraneous material on the measure under consideration.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 3469) to amend the Small Business Act to codify the Boots to Business Program, and for other purposes.

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

Ms. VELAZQUEZ. Madam Speaker, I rise today to recognize the Puerto Rican Bar Association of New York (PRBA) on the occasion of its 64th Annual Scholarship Fund, Inc. gala. Founded in 1957, PRBA was created to connect lawyers and judges who shared common goals, ideas and concerns relating to the practice of law, the courts, and the community. PRBA has successfully mentored and helped generations of attorneys develop their careers in line with their core mission of empowering and giving back to the Puerto Rican and Latino communities. With the Puerto Rican Bar Association Scholarship Fund, the Association promotes opportunities for educational and professional advancement for underserved young professionals. Throughout its storied 60-year history, PRBA has benefited from the leadership of fantastic board members and presidents. This year's PRBA President, Steven M. Cordero is an esteemed attorney and recipient of the Sanctuary for Families 2016 Above & Beyond Pro Bono Award. PRBA's members have ascended to the highest levels of the legal community within private practice, non-profit and all levels of government including the U.S. Supreme Court by Justice Sonia Sotomayor. Madam Speaker, please join me in saluting this year's extraordinary honorees: Judge George J. Silver, Deputy Chief Administrative Judge for the New York City Courts, Judiciary Excellence Award; Juan Cartagena, Esq., outgoing President and General Counsel of LatinoJustice PRLDEF, for Public Service Award; Christopher L. Garcia, Esq., Partner, Co- Chair of Global White Collar Defense, Regulatory and Investigations Practice and Co-Chair Diversity Committee at Weil, Gotshal & Manges LLP, for Attorney of the Year Award; and Judge Ruben A. Martino, posthumously, Supervising Judge of Bronx Family Court, for Champion of Justice Award, presented to Joyce Martino.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, on Thursday, September 23, 2021, I regret not being present for one vote session. Had I been present, I would have voted aye on the Bowman of New York Part C Amendment No. 105 to H.R. 4530, Roll Call No. 287.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I thank the gentleman for yielding. Madam Speaker, I rise in strong support of H.R. 256. Let me first recognize the tireless efforts of Representative Barbara Lee, who has spearheaded this issue for nearly two decades and has been the moral conscience in Congress against endless, unjust wars. The decision to go to war is one of the most profound and consequential a nation can make. This 2002 AUMF is outdated, and its repeal will end its legal authority to justify U.S. intervention in Iraq. Under the Constitution, Congress has the sole duty to declare war. By repealing this authorization today, we are working to return this power back to the people's House and the Senate. That is how a checks and balances system works.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise in strong support of H.R. 1187. Importantly, this package contains language from my legislation, the Greater Accountability in Pay Act that requires public companies to disclose the pay raise percentage of its executives and the pay raise percentage of its median employees over the past year and compare each to the rate of inflation. It also requires these companies to disclose the ratio between the two pay raise percentages. This legislation is the next logical step of the CEO pay ratio disclosure requirement in the Dodd-Frank Act. The COVID-19 pandemic has left millions of working-class Americans feeling vulnerable and uncertain about their economic future--with many individuals and families facing reduced hours, furloughs, or outright dismissals. However, an article published by the New York Times in April demonstrates the extraordinarily successful year it's been, financially, for America's biggest CEOs--even at many of the companies hit hardest by the events of the pandemic. The Times highlights how companies like AT&T, Hilton, Boeing, and Norwegian Cruise Line all took billions of dollars in losses in 2020 but still managed to pay each of their CEOs more than $20 million. Unfortunately, excessive compensation packages received by many of America's CEOs is not a new or isolated event. The disparity between executive compensation and the average worker pay has been growing for decades. In August 2019, the Economic Policy Institute produce a report which highlights that, even before the pandemic, CEOs were earning far more than the typical worker, with CEO pay growing 940 percent between 1978 and 2018 while the wages for the typical worker grew by just 11.9 percent over that same period. Additional transparency on pay ratios will also benefit investors, as data is key to their decision-making process. A balanced pay ratio is an indicator of a company's strong long-term performance and further pay ratio disclosures would provide better insight on a company's strategy, its values, and long-term outlook. In order to get our economy back on track for everyone, we must increase worker pay and ensure that CEO pay ratios are in line with a corporation's fundamentals. I urge my colleagues to vote YES on bill.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise today in strong support of this legislation, and I thank my dear friends and colleagues, Grace Meng and Judy Chu, for their passionate leadership on this issue, and for leading the charge on this bill today. Since the start of the COVID-19 pandemic, this country has witnessed a shocking rise in hate crimes against the AAPI communities. I am proud to represent New York City's Chinatown on the Lower East Side of Manhattan and Brooklyn's Chinatown around 8th Avenue and Sunset Park. It goes without saying that my constituents, and every one of our constituents, ought to be able to go to work, walk to the grocery store, or ride public transportation without fear of a bigoted, and even dangerous attack. We need to bring justice to all the victims of these heinous crimes. That is why passing this bill is a must. Vote ``yes'' and let's lead with action. Let's send a strong message that hate and bigotry will not be tolerated in the United States of America.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I am a proud original cosponsor of H.R. 2547 and rise in its strong support. This important legislation contains my bill, the Small Business Lending Fairness Act, that prohibits the use of a confession of judgment in commercial loans at the Federal level. As chair of the House Small Business Committee, I understand better than most how the COVID-19 pandemic has restricted access to capital and forced the closure of many of America's small businesses. Unfortunately, some lenders and debt collectors are seeking to cash in on the pandemic. Whether it is a taxi driver in New York City pursuing the American Dream or a small business owner trying to make payroll, predatory lenders and collectors have been targeting small businesses with loans that have excessively high interest rates and unfair and abusive terms, like a confession of judgment. Because cash flow is so vital to a business' survival, many owners feel they have no choice but to sign away their rights to save their businesses and provide for their employees. By signing a confession of judgment, borrowers essentially waive the legal rights regarding any legal dispute that might arise. And if one does arise, the lender can unilaterally declare a default and take actions against the small business owner. Often, small business borrowers only find out about a judgment against them after the lender begins to seize bank accounts or other assets. While confessions of judgment have been banned at the Federal level for consumer loans since 1985, these protections have not been extended to commercial loans. Passing this legislation here today will bring us one step closer to finally ending this abusive practice. I want to thank Chairwoman Waters for including this important language in her bill, and I urge my colleagues to vote ``yes.''

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I am a proud original cosponsor of H.R. 1996, the SAFE Banking Act, and I rise in strong support. I would also like to take this opportunity to recognize the gentleman from Colorado (Mr. Perlmutter) for his extraordinary leadership on this legislation. When the pandemic first hit and stay-at-home orders went into place, many small cannabis businesses were deemed essential. Yet, just as States recognized these businesses as critical, Federal law still fails to provide them the same access to key financial services, like banking and insurance. H.R. 1996, the SAFE Banking Act, will address this problem, enabling them to grow and hire more workers. Failing to allow cannabis businesses to utilize financial products and services not only creates artificial barriers for these small businesses, it is also an issue of public safety, as these high-volume cash businesses are frequently the target of robberies and break-ins. That is why the SAFE Banking Act is so important and why, as chair of the House Small Business Committee and senior member of the Financial Services Committee, I am proud to stand by it since its first introduction. I thank Mr. Perlmutter for his leadership. Let's pass this legislation once and for all.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise in strong support of this bill, the Dream and Promise Act. Let me thank Speaker Pelosi, Chairman Nadler, Chairwoman Lofgren, Rep. Lucille Roybal-Allard, and Rep. Yvette Clarke for all their work to make humane immigration reform a priority. I am a proud co-author of the Dream and Promise Act, which will finally give peace of mind to millions who are American in every way but on paper by providing a pathway to citizenship. These are Dreamers, TPS, and DED recipients, yes. But they are also our co-workers, friends, family members and hardworking, law-abiding members of our communities. And under this bill, we can shield qualifying recipients of TPS, DED and DACA from deportation and create a more comprehensive pathway to citizenship. So, let's do the right thing, the American thing, and pass this bill.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I move to suspend the rules and pass the bill (H.R. 1799) to amend the Small Business Act and the CARES Act to extend the covered period for the paycheck protection program, and for other purposes, as amended.

Ms. VELAZQUEZ. Madam Speaker, I have no further speakers, and I am prepared to close.

Ms. VELAZQUEZ. Madam 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. Madam Speaker, I yield such time as she may consume to the gentlewoman from Georgia (Ms. Bourdeaux).

Ms. VELAZQUEZ. Madam Speaker, with over 95 million COVID-19 vaccine doses administered as of last week, the country is finally starting to see the light at the end of the tunnel. Entrepreneurs are feeling more hopeful that if they can just get through the rest of 2021, that 2022 can be a year of growth for them. But, put simply, the small business economy is not there yet, and many of the smaller firms continue to report a need for economic relief. Today's 2-month extension of the PPP application deadline, from March 31 to May 31, will help small firms access much-needed relief to meet their expenses and put them in a position to fully reopen as soon as it is safe to do so. The additional 30-day period will give the SBA the flexibility it needs to process and approve the loans submitted by the new May 31 deadline. Once again, I thank Ms. Bourdeaux of Georgia and Mrs. Kim of California for their leadership on this important issue. I also thank the ranking member, Mr. Luetkemeyer, for his unwavering commitment to our Nation's 30 million small businesses and his bipartisan cooperation on this bill. I look forward to working with him on legislation that will provide a retroactive fix for Schedule C borrowers and also allow farmers and ranchers to use gross income to maximize PPP assistance. Madam Speaker, I encourage all my colleagues to vote ``yes,'' and I yield back the balance of my time.

Ms. VELAZQUEZ. Madam Speaker, I reserve the balance of my time.

Ms. VELAZQUEZ. Madam Speaker, I yield myself such time as I may consume. Madam Speaker, I rise in support of the bill before us today, H.R. 1799, the PPP Extension Act of 2021. Let me begin by saying that, throughout my tenure on the committee, we have been able to set aside our differences and work together on behalf of small businesses. I am committed to doing that again this Congress. Our small firms deserve nothing less. I want to welcome our new ranking member, Mr. Luetkemeyer, back to the committee. I look forward to working with him this Congress to provide our Nation's entrepreneurs with meaningful assistance. I would also like to thank the ranking member for working with me in a bipartisan manner to further extend the Paycheck Protection Program for small businesses that are still struggling. Over the past year, the PPP helped millions of small business owners retain employees and meet business expenses as economic activity slowed down during the pandemic. Seeing that value and impact, Congress, on a bipartisan basis, extended the program multiple times, including a brief extension last summer and, most recently, through March 31 under the Economic Aid Act. We heard last week that some participating lenders have begun to wind down their PPP operations in advance of this deadline, limiting the relief options available to entrepreneurs at a time when many still need help. I understand why this is. Lenders want to be able to focus their efforts on processing existing applications and work through thousands of holds, which remain outstanding on these applications. But I must stress that far too many small businesses, especially the smallest of the small, remain in desperate need for relief. This is simply not the time to let this valuable program expire, especially as thousands of timely loan applications are still sitting in SBA's queue. That is why I am pleased the bill before us today takes into account the arguments we have heard from all sides, both the lending community and the small business owners in communities like mine, who are still searching for help. Specifically, today's bill extends the application deadline to May 31, giving employers an additional 2 months to apply for PPP loans. It gives the SBA an additional 30 days to review, process, and approve loan applications submitted by the May 31 deadline. This approach is supported by a coalition of over 90 groups, representing virtually all sides of the small business economy, including local chambers of commerce, retail and other businessowner associations, and the lending community. I would like to reiterate my thanks to Mr. Luetkemeyer and his team for their cooperation on securing this important achievement for America's small businesses. I also want to thank two first-term Congresswomen on our committee, Ms. Bourdeaux and Mrs. Kim of California, for leading the way at the committee level on these discussions and for introducing this important bill. Madam Speaker, I urge my colleagues to support it, and I reserve the balance of my time.

Ms. VELAZQUEZ. Madam Speaker, I reserve the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, half a million lives lost, over 400,000 small businesses closed for good, 700,000 new unemployment claims filed last week, 54 million are food insecure. This is a crisis the scope of which none of us have seen in our lifetimes in this country. The Federal Government has a responsibility to show up for the American people, and that is exactly what President Joe Biden is doing, to assure them that their struggles aren't theirs alone, that this relief is coming, and we will get through this together. As chairwoman of the House Small Business Committee, I am proud this bill includes $50 billion to get our small businesses back on their feet. We are providing targeted assistance for those hardest hit, including grants for small entertainment businesses, cultural institutions, and independent restaurants, plus an additional $15 billion for EIDL advances, and more for PPP. Let's pass this rule and let's move forward.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I rise today to strongly and fervently denounce hate crimes in any form anywhere in America. Since the start of the COVID-19 pandemic, this country has witnessed a shocking rise in hate crimes against Asians and Asian Americans. Between the onset of the pandemic to the end of last year, there have been over 2,800 reported incidents of racism and discrimination against Asian Americans. In New York City, an Asian woman was waiting in line at a bakery when she was brutally pushed to the ground, hitting her head. On the New York City subway, racial slurs have been uttered toward Asian riders and seniors have been physically attacked. In fact, in 2020, the NYPD reported that 10 percent of all bias attacks were targeted towards Asians. That is a ninefold increase over the incidents probed in 2019. I am proud to represent New York City's Chinatown on the lower east side of Manhattan and Brooklyn's Chinatown around 8th Avenue in Sunset Park. On February 12, I joined so many others in welcoming in the Lunar New Year, the Year of the Ox. But this year, a dark undercurrent and collective anxiety around the rise in violence dampened the celebrations. It goes without saying that my constituents and every one of our constituents ought to be able to go to work, walk to the grocery store, or ride public transportation without fear of a bigoted and even dangerous attack. Mr. Speaker, this is not who we are as a nation. We do not let xenophobia, racism, and violence run rampant on our streets, in our cities, in our hearts. No. We take pride in our diversity. We understand that what brings us together is far greater than what divides us. And we need to bring justice to all the victims of these heinous crimes. I am glad that in New York City, our mayor has created the Asian Hate Crime Task Force, and I encourage other cities and localities to take similar action. We also need a sustained Federal presence to combat and prevent hate crimes. That is why in the past I have introduced legislation to allocate $50 million in Federal funds to help prevent, track, and prosecute hate crimes and assist victims. I look forward to reintroducing this bill. I was also proud to cosponsor my colleague, Representative Grace Meng's, resolution to denounce the anti-Asian sentiment that has occurred since the outbreak of the coronavirus. Every one of us, everyone, has a responsibility to condemn and speak out against these attacks.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, nearly half of all LGBTQ people in America lack protections from discrimination in employment, education, housing, public accommodations, and credit. This is an abject failure to recognize the humanity and dignity in all of us. And, as I have spoken on before as the chairwoman of the House Small Business Committee, discrimination is bad for business. That is why we need the Equality Act. We also need to recognize the mental health impacts of failing to treat all people equally under the law. Discrimination is linked to increased levels of stress, anxiety, and depression. Until all are equal in the eyes of the law, we are allowing bigotry to silence and shame. So, today, I am voting ``yes'' for all those who have been made less by their government's failure to protect them. I am voting ``yes'' for the nearly 2 million LGBTQ youth who are counting on us. I see you, and I welcome you in my heart.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Madam Speaker, I rise in strong support of H.R. 1192. I was proud to introduce this bill with bipartisan support in the House. I would like to take this opportunity to thank Speaker of the House Nancy Pelosi and Chairman Jerry Nadler for bringing this legislation to the floor, and Mr. Bishop, the ranking member of the subcommittee, and Senator Bob Menendez for introducing a companion bill in the Senate. The Puerto Rico Recovery Accuracy in Disclosures Act of 2021, or PRRADA, eliminates a double standard currently facing Puerto Rico. Under U.S. Code and Federal bankruptcy procedure, any conflicts of interest, or even the perception of such conflict, between those working on the bankruptcy and the debtor are required to be disclosed. However, a loophole in the current law prevents this requirement from being extended to the people of Puerto Rico. In 2016, Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act, or PROMESA, to set up an orderly bankruptcy process to restructure its debt, stimulate economic development, and put the island on a path to financial recovery. This bill will extend current U.S. law, requiring disclosures of conflicts of interest to Puerto Rico, thereby improving transparency and restoring confidence in the island's future. Puerto Ricans should be confident that the board's bankruptcy advisers do not have their thumb on the scale to favor certain debts where they have a self-interest. This bipartisan bill ensures integrity of the PROMESA process. While we can have different opinions on how effectively the oversight board is carrying out its mission, one thing should be clear: The island's residents should be entitled to the same rights and protections as any debtor on the mainland. Once more, I would like to thank Chairman Nadler, the staff, and the bipartisan cosponsors of the bill. I strongly encourage all Members to vote ``yes'' on this critical piece of legislation. I also would like to recognize the gentlewoman from Puerto Rico (Miss Gonzalez-Colon), who is a cosponsor of the bill.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, when we look at how much businesses in this country are suffering today and how many businesses are shutting their doors, it is our responsibility to help them get whole. The only way that consumers are going to go into the malls and the restaurants is when they have peace of mind that we have done everything to protect them.

Ms. VELAZQUEZ. Mr. Speaker, I thank the gentleman for yielding. Mr. Speaker, I rise today in strong support of this budget resolution because small businesses need help now. This pandemic has already darkened hundreds of thousands of storefronts on Main Streets throughout America. A recent study found that 800 businesses closed daily between April and September last year. Every day without Federal relief, this pandemic shutters businesses, destroys lives, and wipes out good-paying jobs. COVID is devastating Black and Latino entrepreneurs, dropping the number of businesses by 41 and 32 percent, respectively. Small businesses do not have time for drawn-out negotiations nor debates over process. They need help immediately. Mr. Speaker, today's budget resolution gives us a critical tool to deliver urgently needed aid to small firms and the American people by passing President Biden's American Rescue Plan. This resolution will grant us the means to provide small businesses, particularly those that are underserved, with billions in new funding for loans, grants, and support programs. This resolution will enable us to appropriate desperately needed funds for the national strategy to crush the virus. This resolution would allow us to make a difference in the lives of millions of Americans who have lost their jobs by expanding unemployment benefits and extending the eviction moratorium. I welcome Republican support for these efforts. Mr. Speaker, what we are proposing are commonsense measures to offer a lifeline to struggling Americans. We must prepare to move forward. The price of inaction is too steep. The longer we wait, the more lives COVID will take. The longer we wait, the more businesses this pandemic will destroy. The longer we wait, the more people in my district suffer. We need a big, bold package. That is why I strongly encourage my colleagues to support this resolution. Mr. Speaker, I wish that the other side would care about the $2 trillion tax cut package.