Nydia Velázquez

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield myself as much time as I may consume. Mr. Speaker, I rise in support of H.R. 1680, the Women's Business Centers Improvements Act of 2018. Small businesses are as diverse as our Nation, and the SBA entrepreneurial development initiatives are no different. Women's business centers, or WBCs, are a critical initiative for female entrepreneurs. WBCs provide in-depth counseling, training, and mentoring to small firms, resulting in substantial economic impact. Women businessowners have used this program to develop business plans, obtain financing, and expand their operations. As more women turn to entrepreneurship as a career path, it is critical this initiative remain in place to close these gaps. Women are the fastest growing sector of entrepreneurs, and as more women establish home-based businesses, downsize from corporate executive positions, these centers are crucial in addressing the whole range of women's entrepreneurial needs. The Women's Business Centers Improvements Act builds upon their success by creating uniformity through accreditation for WBCs and increasing maximum grant levels to ensure they have the resources to meet the growing demand for their services. We all agree that women businessowners offer invaluable contributions to our economy, so we must step up to help them, and this legislation achieves that. Mr. Speaker, I urge Members to support this legislation, and I reserve the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, the United States has over 9 million women-owned firms, over one-third of all firms. Our economy relies heavily on women-owned small businesses, as they generate over $1 trillion in revenues and employ over 8 million workers. H.R. 1680 ensures that they have access to the tools they need to succeed. Because nearly half of aspiring women businessowners report a lack of available mentors, we must take action to break down the barriers hindering their success. That is why it is imperative for us to pass this legislation today, ensuring access to mentorship and professional guidance to the fastest growing group of entrepreneurs. Today's measure is endorsed by the Association of Women's Business Centers, along with other organizations. Mr. Speaker, I urge Members to support this bill, and I yield back the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield 3 minutes to the gentleman from Florida (Mr. Lawson), the ranking member of the Subcommittee on Health and Technology.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, in crafting H.R. 4743, the chairman and I worked closely with our Senate counterparts, the SBA, and the lending industry. Everyone had a seat at the table, and through debate and compromise, we arrived at a legislative product we can all be proud of, and that, most importantly, will help deserving small businesses access loans. Mr. Speaker, I would like to take this opportunity to thank Chairman Chabot and Senators Risch and Cardin for their bipartisanship. And, finally, I would like to thank our staff for working diligently on this important bill. Mr. Speaker, I urge my colleagues to vote ``yes,'' 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. 4743, a bipartisan, bicameral bill that will improve oversight of the 7(a) Loan Program, the SBA's flagship lending product. At the beginning of this Congress, our committee held a series of hearings to take the temperature of the 7(a) program. We actively investigated how it is being utilized, and we worked with stakeholders to address the deficiencies that were identified. Both lenders and the agency have said oversight could be improved and transparency increased with legislative action. This bill is the product of that feedback and will make long overdue reforms to the program. The legislation increases transparency and uniformity for both lenders and the agency by codifying the Office of Credit Risk Management and Lender Oversight Committee. It also requires the Office to internally submit a budget to ensure there is justification of the fees, salaries, and expenses used to carry out oversight functions. We also heard that the credit elsewhere test--a bedrock of the program--was not clear and lacked a verification component. This bill better clarifies the credit elsewhere test and bolsters substantiation of how it is fulfilled. Finally, we all remember 2015, when the program ran out of authority to lend before the end of the year. This created an artificial run on the lenders to get loans approved, unfairly harmed small businesses that needed credit, and ultimately required congressional intervention. Today's bill incorporates provisions from legislation I introduced earlier this year, empowering the Administrator to request additional lending capacity from Congress to meet unexpected demands late in the fiscal year. H.R. 4743 strikes a meaningful balance between strong oversight and protecting the interests of small businesses that need loans. 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. In closing, it is obvious that we must take this historic step in providing transparency in the contract modification process. As we contemplate ways to bolster our infrastructure with the goal of employing millions, H.R. 4754 provides certainty to the many small firms potentially involved in that process. By requiring Federal agencies to prospectively notify contractors of the agency processes they would be subject to if awarded a contract, the Federal marketplace is once again attainable to small construction contractors. It is critical that this Congress work to remove barriers preventing small firms from successfully performing Federal work and getting paid for all of the work they perform. 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. 4754, the Change Order Transparency for Federal Contractors Act. As this body seeks ways to foster small business growth and expansion, we must always carefully consider what is being done to maximize entrepreneurs' participation in the Federal marketplace. As we all know, when small companies are awarded Federal contracts, the result is a win-win. Small businesses provide quality goods and services at affordable prices, meaning a better deal for the government and the taxpayer. At the same time, it can mean significant growth opportunity for small businesses and even the need for new employees. Yet one longstanding barrier remains to small business participation in the Federal marketplace. The practice of contract modifications drastically delays the payment to contractors while increasing the risk they take on, and processing change orders slows down other parts of the project, jeopardizing the ability of contractors to meet their obligations. All of this results in significant financial burdens on contractors, often ending in bankruptcy. This is particularly true when liquidity is slim and the burden of insurance and licensures is high. H.R. 4754 provides much-needed certainty to prospective Federal construction contractors and subcontractors so they can appropriately plan their operations before submitting their bid for Federal work. This level of transparency is vital to securing the survival of small construction contractors. Mr. Speaker, I urge all of the 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 Florida (Mr. Lawson), who is the lead cosponsor of the bill.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield back the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 4111, a bill that will improve access to the Small Business Investment Company program in underserved communities. SBICs have assisted thousands of high-growth companies over the years by ``filling the gap'' in the capital markets for businesses that have outgrown the SBA's 7(a) guaranteed loan program but remain too small or too risky for traditional private equity markets to bear. SBICs operate in a unique public-private partnership with SBA. Once managers raise enough private capital, the agency provides matching funds which are pooled together and invested in high-growth small businesses. To maximize the impact of the program, it is essential that SBIC licenses are processed in a timely fashion and also geographically spread across the country. As it stands now, nearly three-quarters of SBICs are located in just 10 States. Today's bill will address these points by prioritizing those license applications from managers that will invest in our underserved communities. The SBIC program has done a lot of good for the small business community over the years. Enabling SBA to fast-track more capital into the hands of small-business owners is a top priority for both sides of the aisle in this committee. I urge Members to support this legislation, and I reserve the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield 2 minutes to the gentleman from Colorado (Mr. Polis).

Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, there is no question that we need to support our Main Street small businesses, especially those that fall outside of traditional business structures. H.R. 5236 does just that by requiring more training and clarifying lending protocols. Today's bill is endorsed by at least 25 organizations, including America's SBDCs, the American Sustainable Business Council, the Association for Enterprise Opportunity, ESCA, and a variety of co-ops and employee-owner associations. Mr. Speaker, I would like to thank Justin Pelletier and Jon Cardinal for their tireless work on this complex topic. 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. 5236, the Main Street Employee Ownership Act, a commonsense measure to improve SBA's lending and training programs to enable employees to purchase the companies they work for. As baby boomers near retirement, the country faces a substantial dilemma: Roughly half of privately held companies are owned by baby boomers, and fewer than 15 percent have a formal exit plan in place. And while it is wonderful to think that family members will take over the business, this is a relatively rare occurrence. Some will be bought out; others will close. This will have significant secondary economic impacts that will ripple through our local communities. Mr. Speaker, I have been working with Senator Gillibrand's office to help address this looming problem. The bill before us will reward workers and invest in our Main Street economy by improving the lending landscape for employee-owned businesses, such as employee stock ownership plans and co-ops. There are 7,000 such companies in existence all over the Nation, contributing to our local communities and economies. However, businesses seeking to transition to employee-owned status face difficulty in obtaining adequate capital to cover the oftentimes prohibitive costs. The SBA was authorized to loan to ESOPs in 1979. Unfortunately, this tool has rarely been used due to misunderstanding of the business structure and cumbersome transition requirements. This bill seeks to align common industry practices with SBA protocols to encourage more lending to ESOPs and co-ops. By codifying current SBA standards of practice and easing some burdensome guarantee restrictions, it is my hope we will keep local enterprises in their communities, saving jobs along the way and preventing economic dislocation for many workers. 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 such time as I may consume. Let me take this opportunity to thank the chairman, Mr. Chabot; his staff; and all the members of the Small Business Committee for working in a bipartisan manner. Mr. Speaker, we continue to hear about cyber breaches and unauthorized data collection. Cybersecurity must be our Nation's top priority, especially as it pertains to the health of our small business community. The Small Business Committee has taken steps to leverage the Small Business Administration's network of resource partners to assist in education and development of cyber infrastructure. Clearly, we must do more to combat rogue nation-states and cybercriminals. The key lies in a properly trained workforce at our small business development centers who are tasked in educating, developing, and implementing cybersecurity measures for small companies of all kinds. H.R. 3170, the Small Business Development Center Cyber Training Act does this by creating a certification program at SBDCs to develop staff who are prepared to combat cyber attacks. Therefore, I urge my colleagues to vote for this bill. Mr. Speaker, I reserve the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, does the chairman have any further speakers?

Ms. VELAZQUEZ. Mr. Speaker, I yield 2 minutes to the gentleman from Pennsylvania (Mr. Evans), who is the ranking member on the Subcommittee on Economic Growth, Tax and Capital Access.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, expanding access to a skilled cyber workforce focused on small businesses has been a top priority for both sides of the aisle. We cannot let our Nation's job creators go without the assistance they need to develop, implement, and monitor their online presence. H.R. 3170 will help boost SBDC's ability to engage and protect their small-business clients, and, therefore, also protect the interests of American workers and consumers. This legislation ensures that our national efforts combating cyber attacks can be utilized by our Nation's most vulnerable businesses. I urge my colleagues to support this bill. Mr. Speaker, I yield back the balance of my time.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield myself as much time as I may consume. Mr. Speaker, I rise in support of H.R. 1702, the Small Business Development Centers Improvement Act. Whether it is helping to create a business plan, navigate the procurement process, market a new product, or identify international trade opportunities, the SBA's entrepreneurial development programs provide an array of services to help small firms navigate obstacles, grow, and thrive. Entrepreneurs, therefore, significantly benefit from having tools to identify, fiscally plan for, and maintain critical business improvements. Entrepreneurs located throughout the country, including in underserved rural and inner-city communities, benefit from accessible, affordable technical assistance. This reduces their isolation from buyers and other businesses. In addition to outreach, hands-on counseling is critical for businesses to obtain information pertinent to their local market and capacities. That is why SBDCs are so critical to our local communities. Today's bill modernizes and strengthens the SBDC network by improving data collection, streamlining collaboration, reducing paperwork, and allowing additional outreach on marketing to be performed. H.R. 1702 is a comprehensive bill providing necessary steps forward to advance our Nation's entrepreneurial economic system. Mr. Speaker, I urge Members to support this legislation, and I reserve the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time. There is no question that we need to support the cornerstone of the SBA's entrepreneurial programs, the small business development centers. H.R. 1702 does just that by updating marketing strategies and requiring more reporting so we can better understand the system provided to our constituencies. Today's bill is endorsed by America's SBDCs, an association representing the 63 SBDC networks and their nearly 1,000 centers. I would like to thank Representative Evans for leading this bill and all his efforts to improve the program. I would also like to thank Halimah Locke and Veena Srinivasa for their dedicated work on this legislation. I urge Members to support this bill, and I yield back the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield 5 minutes to the gentleman from Pennsylvania (Mr. Evans), who is the ranking member of the Subcommittee on Economic Growth, Tax and Capital Access and also a sponsor of the bill.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, it is with great pleasure that I rise today to pay tribute to the Spanish Speaking Elderly Council--RAICES as it celebrates its 40th Anniversary on May 17, 2018. This invaluable organization was founded in 1978 by retired Hispanic senior citizens to meet the needs of New York City's growing Latino community in Brooklyn. Instead of enjoying retirement, determined retirees and founders went back to work to create an organization that would lift communication and service barriers for elderly Latinos. Through its activities, workshops, outings and classes, RAICES provides an opportunity for seniors to receive resources, information, exercise and nutrition, but also an opportunity to give back to the community through programs. Members have learned about elder abuse, crime prevention, and fire safety. In addition to building upon their skills, knowledge and ability, it provides members with an array of case assistance, advocacy, benefits and entitlement assistance, improving the lives of hundreds of seniors living below or at the federal poverty line. Today, RAICES operates seven senior centers in the counties of Brooklyn and Queens New York. I congratulate Spanish Speaking Elderly Council--RAICES, Inc. for forty years of invaluable services. I commend Lisette Sosa-Dickson, Executive Director and Board of Directors for their leadership and public service. I wish RAICES many more years of continued success.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, today I would like to commend Jessenia Filomeno, a young Latina who has dedicated her life to volunteerism and community service. She is a role model who selflessly mentors at risk youth and helps them achieve academic success. She is a graduate from Brooklyn's Pratt Institute where she earned a Bachelor degree in Architecture. She has served as a young Ambassador to Brooklyn representing Puerto Rico. Since her youth and for the past 20 years, Ms. Filomeno has been a member of the Brooklyn Three Kings Day Parade Inc. where she coordinates the distribution of more than 1,000 toys for underserved children. Jessenia is also the CEO of Filomeno Family Awards Foundation, Inc. A foundation who mentors and monitors the progress of the students they support from kindergarten to college. Jessenia and the Foundation annually host a gala where students are awarded scholarships and recognition for their accomplishments. When Hurricane Maria hit Puerto Rico, Jessenia organized a community relief effort to help the children and families impacted by this disaster. What is amazing is that Jessenia suffers from chronic Lupus disease and yet she manages to volunteer and help the underserved and most vulnerable in our community. Jessenia is proud to bring hope and a smile to all her initiatives. She states that she is very fortunate to be 35 years of age and able to live and contribute to society. Please join me in saluting Jessenia Filomeno and the Filomeno Family Awards Foundation Inc. on the celebration of its annual gala held on March 31, 2018.

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, this is the final amendment to the bill, which will not kill the bill or send it back to committee. If adopted, the bill will immediately proceed to final passage, as amended. Mr. Speaker, 2017 was a year of historic disasters. We saw category 5 hurricanes, devastating floods, and wildfires that covered hundreds of miles. For the towns and communities in Florida, Georgia, South Carolina, Louisiana, California, Texas, Puerto Rico, and the U.S. Virgin Islands, they continue to struggle with what once would have been considered a once-in-a-lifetime disaster. My motion will help these communities right now. It will do so by waiving the local matching requirements for FEMA assistance for those affected by Irma, Harvey, Maria, and the wildfires out west. This is critical because many States like Florida and Georgia did not have dedicated disaster funds set aside to pay for such requirements. The result is that these disasters will require States to dip into their operating budgets, meaning less money for roads, business investment, healthcare, and schools. In addition, many communities hit by these disasters are struggling financially as businesses close, homes are rebuilt, and many individuals leave for good. This reshuffling of economic fortunes creates massive financial stress. It is in our power to help these towns and cities, whether they are in Georgia, Florida, Texas, Louisiana, the U.S. Virgin Islands, or Puerto Rico. Take Port Aransas, just outside Corpus Christi. It used to have 4,000 residents but now only has 3,000, a decline of 25 percent. Its hotels should be packed with college students on spring break, but 33 percent are vacant. Why? Because they are still rebuilding, struggling to be ready for what should be the most financially important part of this season. These areas and places like Galveston, Texas; Lake Charles, Louisiana; or Isle of Palms in South Carolina must come up with millions of dollars if they want to access FEMA assistance. And out west, entire communities are still reeling from wildfires: towns like Lake Perris, Kettleman City, Orosi, and Corona. People's lives, Mr. Speaker, have been turned upside down, and communities, cities, and States are under massive budget pressure to rebuild. The least we can do is provide relief from these massive, unforeseen costs. This motion to recommit will boost assistance for areas still struggling to rebuild. It will take stress off municipal and State budgets, recognizing that massive disasters like these cannot simply be absorbed by small fishing towns and rural areas. If you vote ``no,'' you are voting against these small communities; you are voting against the people who live in Texas, Florida, California, Georgia, South Carolina, Puerto Rico, and the U.S. Virgin Islands. I urge you to stand with them and vote ``yes'' on the motion to recommit. Mr. Speaker, I yield the balance of my time to the gentleman from Oregon (Mr. DeFazio).

Ms. VELAZQUEZ. Mr. Speaker, I yield back the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I have a motion to recommit at the desk.