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 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. 190, the Expanding Contracting Opportunities for Small Businesses Act of 2019. The Small Businesses Act sets forth a governmentwide 23 percent goal of Federal contracts that should be awarded to small businesses. Each Federal agency is charged with setting its own small business goals, which are to reflect the maximum possible opportunity for small business within that agency. Regrettably, small firms face barriers in securing Federal contracts. According to the SBA, small businesses won $105.6 billion in contracts during fiscal year 2016, representing 23.88 percent of total Federal contract dollars. That is why the Small Business Act gives agencies the ability to limit, or set aside, contracts for small businesses to bid and compete against one another. The SBA administers several set-asides that are designed to increase the participation of several socioeconomic categories, including the 8(a) program, HUBZone program, women-owned, and service-disabled veteran-owned small business programs. While most contracts are awarded through competition, sole source contracts also exist if certain criteria are met. However, current sole source awards have become complex and underutilized in recent years. They do not represent the changing nature of Federal contract awards and have become outdated. H.R. 190 raises the dollar amount of sole source awards to reflect modern contract awards. I applaud Mr. Marshall and his cosponsor, Mr. Schneider, for introducing this bill providing flexibility to contracting officers when awarding sole source contracts under SBA contracting programs. By promoting the use of sole source contracts to small businesses, this bill adds to the government's pool of suppliers. This results in higher quality goods and increased job creation for the economy, as these direct awards require the small business to do the majority of the work and not subcontract out. Mr. Speaker, I urge Members to support this legislation, and I reserve the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield 3 minutes to the gentleman from Illinois (Mr. Schneider), who is a cosponsor of the legislation.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time to close. Mr. Speaker, I want to thank the gentleman from California (Mr. Rouda) for introducing today's bill to increase the assistance to SBIR and STTR firms. Since their inception, over $40 billion in awards have been made, proving their success as a funding source for small innovative firms. As we have done before, we must ensure the longevity of the program by guaranteeing it reflects modern R&D practices. It must also optimize participation through mentorship incentives and Phase 3 awards, in addition to including small business investment companies in the SBIR and STTR programs to stimulate investment. This bill achieves this goal and guarantees the program meets the needs of our next generation of SBIR and STTR firms. H.R. 206 makes certain that the program remains a catalyst for not just innovation, but also the economic empowerment and job creation that is associated with these scientific advances. Mr. Speaker, I urge Members to support this bill, and I yield back the balance of my time.

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 yield 3 minutes to the gentleman from California (Mr. Rouda), who is the author of this bill.

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.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield 3 minutes to the gentlewoman from Iowa (Ms. Finkenauer), the author of this legislation.

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 move to suspend the rules and pass the bill (H.R. 246) to amend the Small Business Act to require senior procurement executives, procurement center representatives, and the Office of Small and Disadvantaged Business Utilization to assist small business concerns participating in the Small Business Innovation Research Program and the Small Business Technology Transfer Program, and for other purposes.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, I want to thank the gentlewoman from Iowa (Ms. Finkenauer) and the gentleman from Utah (Mr. Curtis) for introducing today's bill to spur increased contracting activity in the SBIR and STTR programs. The SBIR program has helped thousands of small, innovative firms with good ideas to compete for Federal research and development awards. Their success has a proven record in a diverse range of fields, including: defense, health, energy, and technology. H.R. 246, the Stimulating Innovation through Procurement Act of 2019, enables more SBIR and STTR businesses to reach their potential. It directs procurement center representatives and senior procurement executives in agencies to assist small business concerns in the SBIR and STTR programs, and coordinates with appropriate agency procurement officials. This bill will open the Federal marketplace to more small, high- growth companies through increased technical assistance and advocacy, ensuring our country remains a leader in innovation. Mr. Speaker, I urge Members to support this bill, and I yield back the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 246, the Stimulating Innovation Through Procurement Act of 2019. For more than 30 years, the Small Business Innovation Research and Small Business Technology Transfer programs, or SBIR and STTR programs as we call them, have provided a critical source of funding to small businesses that engage in research and development. The result is higher rates of business formation and job creation, something we can all be proud of. For the U.S. economy, the SBIR and STTR programs are important to employment in scientific and technical fields. Initially, companies must hire individuals to carry out the research and development. If research is commercialized, however, sustainable jobs can be created as products are moved to market. This ingenuity is what makes America a global economic powerhouse. Since its establishment, these programs have helped launch tens of thousands of successful research projects in a wide variety of industries. Yet, small, high-growth firms often face a disconnect when attempting to transfer their SBIR technologies to precision programs. Today's measure, H.R. 246, bridges this gap and aids small business concerns in commercializing their technology when obtaining government contracts. Statutorily amending the role of acquisition personnel to assist companies in the SBIR and STTR programs levels the playing field for innovative businesses competing in the Federal marketplace. Closing this gap doesn't just help our government secure the best technologies and ideas; it grows our local communities where many small SBIR- and STTR-funded firms operate. I applaud the bipartisanship of Ms. Finkenauer, a freshman Member of Congress, and Mr. Curtis in their efforts to increase participation of small, innovative companies within the Federal marketplace by guaranteeing them the same assistance other small firms receive from contracting officers. Mr. Speaker, I urge Members to support this legislation, and I reserve the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, access to capital is the lifeblood of every small business. The SBIC program fills the gap between the availability of venture capital and the needs of small businesses in startup and growth situations. The SBIC program has long been an important way of channeling capital to leading-edge, high-growth companies. In fact, some of the Nation's most successful corporations received early-stage financing from SBICs. Without it, they may not be the companies they are today. The key to the program's success is leveraging Federal funds to increase the amount of private capital invested in such promising startup companies. With more than $24 billion of capital under management, the SBIC program has a proven track record of success. Creating parity in the SBIC program by raising the investment threshold from 5 percent to 15 percent will result in significant small business investment; and like we all know, providing funds to small firms results in real growth in our local communities. H.R. 116 has bipartisan support, and it is endorsed by the U.S. Chamber of Commerce. As such, I once again urge my colleagues to support this measure. Mr. Speaker, I yield back the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, on that I demand the yeas and nays.

Ms. VELAZQUEZ. Mr. Speaker, I yield as much time as she may consume to the gentlewoman from California (Ms. Judy Chu), author of this legislation.

Ms. VELAZQUEZ. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 116) to amend the Small Business Investment Act of 1958 to increase the amount that certain banks and savings associations may invest in small business investment companies, subject to the approval of the appropriate Federal banking agency, and for other purposes.

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. 116, the Investing in Main Street Act of 2019. Since 1958, the Small Business Investment Company, SBIC, program has been an integral part of SBA's mission to provide small businesses with capital and create jobs. It achieves this purpose by partnering private and public investments in early-stage startup businesses. In fact, in 2016, the SBIC program provided $6 billion in financing to 1,200 small businesses and helped sustain over 120,000 jobs. It has afforded America's small businesses an invaluable opportunity to grow their innovative ideas. Just look at Apple, Tesla, and FedEx. They have all achieved what we hope for every small business: extraordinary growth and success. And they each received early-stage financing from SBICs. One of the SBIC program's greatest strengths is its hands-off approach, giving fund managers the autonomy to invest in almost any business sector they choose, from apparel to cutting-edge technology. This freedom, coupled with sound investment strategies, has led to its success. Access to capital remains the number one priority for small firms across America. The SBIC program has helped increase the flow of capital to worthy small companies, yet we can do more to ensure they can meet growing demand. H.R. 116 will strengthen and grow the SBIC program by letting banks and Federal savings associations invest up to 15 percent of their holdings into SBICs. This increase in capital, at no cost to the taxpayers, provides entrepreneurs with enhanced opportunities to grow their businesses and create jobs. The goal of the SBIC program is to fill the gap between the availability of venture capital and the needs of small businesses in startup and growth situations. Today's bill makes a sensible change to address this goal by facilitating increased investment in small firms. I applaud Congresswoman Chu in identifying this issue and finding a solution. I, therefore, ask my fellow Members to support this bill, and I reserve the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I thank the chairman of the subcommittee for yielding. Mr. Speaker, we are now 18 days into the Trump shutdown, and America's small businesses are feeling the strain. Each day that this political stunt continues, entrepreneurs lose out on nearly $90 million in affordable capital through the Small Business Administration's 7(a) lending program alone. That is 192 small firms per day going without the resources they need to grow and create new jobs. As chairwoman of the Small Business Committee, I am deeply concerned that President Trump is holding America's small business sector hostage as he demands funding for a cruel and ineffective border wall. Contrary to the President's remarks, this shutdown isn't just hurting workers who collect a paycheck in blue States; its impacts are being felt on Main Street across this country. For 3 weeks now, the SBA--the only Federal agency dedicated to our Nation's entrepreneurs--has ceased its core operations. Make no mistake about it: This puts hundreds of millions of dollars out of reach for millions of small businesses who seek to utilize these services. For small firms operating in the Federal marketplace, the shutdown could cause them to sacrifice nearly 7,000 contracts worth over $300 million each day. Unfortunately, the consequences don't end there. For countless small businesses--from those surrounding our national parks to small grocers who accept SNAP--a lack of customers is leading to lost revenues, and the bills are adding up. Let us also not forget what happened to our economy after Republicans shut down the government in 2013: small business hiring and consumer confidence fell; the IRS was unable to provide taxpayer assistance; and our economy lost billions because of disrupted government spending. But what this shutdown really comes down to is a President who, time and again, has sought to divide us by labeling immigrants as the enemy. I am here to tell you that welcoming immigrants is not just a founding principle of this Nation, it is good economic policy.

Ms. VELAZQUEZ. Immigrants are among America's most successful entrepreneurs, starting about a quarter of all new businesses. And Dreamers, whose future our President continues to jeopardize, start businesses at rates higher than the overall public. Instead of talking about building walls, let's put America's entrepreneurial sector back to work.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 227) to amend the Small Business Act to specify what credit is given for certain subcontractors and to provide a dispute process for non-payment to subcontractors, and for other purposes.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, I am pleased to introduce this piece of legislation which protects our small contractors by updating the subcontracting goaling regime through increased flexibility and accountability. Establishing incentives to count low-tier subcontracting awards and a dispute process for subcontractors to utilize in the event of nonpayment ensures a healthy Federal procurement marketplace. Today's legislation spreads the economic power of Federal procurement to more companies and the communities where they are located. I want to thank the gentleman from Mississippi (Mr. Kelly) for cosponsoring this critical legislation and for all his work on this issue while serving on the Small Business Committee, and I would like to also take this opportunity to thank the ranking member. Mr. Speaker, I urge Members to support this bill, and I yield back the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 226) to amend the Small Business Act to include best in class designations in the annual report on small business goals prepared by the Administrator of the Small Business Administration, and for other purposes.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I have no further speakers, and I reserve the balance of my time.