Member of Congress

Nydia Velázquez

Role
Current Representative
State
NY
Party
Democrat

Speeches

PROVIDING FOR CONSIDERATION OF H.R. 3354, DEPARTMENT OF THE INTERIOR, ENVIRONMENT, AND RELATED AGENCIES APPROPRIATIONS ACT, 2018; PROVIDING FOR CONSIDERATION OF MOTIONS TO SUSPEND THE RULES; AND...2017-09-06

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I ask unanimous consent to bring up H.R. 3440, the DREAM Act, to protect Cristel, an attorney who came to this country when she was only 9 years old.

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RECOGNIZING BRUNO VIDAL2017-09-05

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I rise today to recognize Detective Bruno Vidal, as he retires after 25 years of law enforcement service. Det. Vidal began his law enforcement career in 1992 as a Police Officer with New York City's Finest, the NYPD. In 1993 he was assigned to the 90th Precinct in Williamsburg, Brooklyn. In 1995, he joined the Community Patrol Officer Program (CPOP). A program designed to promote collaborative problem solving efforts between the community and police department. This program enabled Det. Vidal to patrol a dedicated geographic location within the community where he successfully worked with residents in identifying areas with serious quality of life conditions. As the CPOP Officer, his approach, mannerism and ability to communicate with the public, young and older, was instrumental in fortifying the trust between the 90th Precinct and the greater community. This achievement led to his appointment as the precinct's Community Affairs Officer. In this capacity, he worked extensively within Williamsburg community. Det. Vidal established strong relationships with schools, faith-based and local organizations, small businesses, housing leaders and elected officials. He has earned numerous awards and the respect of the community and members of the service. In 2007 he was promoted to the well-deserved rank of Detective. And in 2015, he earned the new rank of Detective Specialist 2nd grade. For twenty-five years, Det. Bruno Vidal has been an exemplary role model and dedicated public servant who served with pride and honor. I am proud to know and have worked with him on local issues. He is a loyal representative of New York's Finest. I also want to thank his family, Mrs. Arisleida Vidal-Abrue and their three children Matthew, Carolyn and Adam for supporting his career. Please join me in saluting Detective Bruno Vidal from the 90th Precinct in New York City.

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HONORING MS. DOROTHY SHIELDS2017-09-05

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I rise to honor the life and achievements of Ms. Dorothy Shields who was a tireless advocate for the community of Red Hook, Brooklyn. As a resident and community advocate, Ms. Shields played numerous roles in bettering the lives of Red Hook's citizens. As Resident Association President of Red Hook Houses East for 37 years, she was a voice for tenants' rights and many of the most vulnerable community members. As an advocate for community development and job creation, Ms. Shields was instrumental in luring new businesses to Red Hook. Ms. Shields was also a dedicated public servant who spent time working for the New York City Housing Authority (NYCHA) as a community service aide and for the New York City Board of Education as a paraprofessional. The mother of six children, all of whom attended school in Red Hook, Ms. Shields passed along values of public service to her children, who went on to work in city services including NYCHA and the New York City Police Department. We mourn her passing and cherish her legacy.

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RECOGNIZING AIXA TORRES2017-08-08

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I rise today to recognize the extraordinary accomplishments of Aixa Torres on the occasion of her birthday and retirement. Ms. Torres was born in Santurce, Puerto Rico, to Domingo Arturo Torres and America Figueras. She moved with her parents and sisters to New York City in 1955, where she attended public schools. Ms. Torres graduated from the City University of New York and Lincoln University. Among her many achievements, Ms. Torres was instrumental in working with local elected officials to push the New York City Housing Authority to fully repair old, faulty gas pipes at Smith Houses that sometimes forced residents to go without cooking gas for weeks or months at a time. Under this leadership and partnership, Smith residents can reliably use their ovens and stoves without having to worry about looming gas outages. Ms. Torres' leadership has also been put to the test by multiple natural disasters. Her efforts resulted in the successful evacuation of hundreds of Smith residents ahead of Hurricane Irene, and her advocacy during Hurricane Sandy demonstrated that an organized community can overcome the worst of disasters. On behalf of the residents of Alfred E. Smith Houses, she recently formed a Sandy Task Force for the purpose of overseeing the Sandy Recovery and Resiliency at Smith. After decades of community work, serving on advisory councils and public school parent associations, Ms. Torres retired in 2014 from the Department of Education as the Lower East Side's Family Advocate. In August 2004, she, along with Principal Santiago Tavares, instituted a Citywide High School Summer Graduation. In 2010, Torres also began serving as President of the Alfred E. Smith Resident Association, on Manhattan's Lower East Side. Ms. Torres married the late George Carmona, Jr. in 1971, and had two children, George III and Liza Noemi. For more than 50 years, she has resided on the Lower East Side of Manhattan, where she lives with her daughter and grandchildren, Mia and Elijah.

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GIVING SMALL BUSINESS A BETTER DEAL2017-07-28

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, Donald Trump has now been President for 188 days, and despite the promises, his Republican-controlled Congress has not passed a single meaningful piece of job creation legislation. Last night, we watched as Republicans failed in their latest effort to take healthcare from the American people. Mr. Speaker, it is time, at last, to move on. The American people are looking for real proposals to create jobs, increase wages, and strengthen our economy. They are looking for--and they deserve--a better deal. As the ranking member of the Small Business Committee, almost every day I hear from entrepreneurs and small businesses who create jobs in our communities, and under Democratic plans, we will give them tools to further succeed. We will offer small firms tax incentives to bring on and train new employees. We will invest in apprenticeship programs to help meet small businesses' workforce needs. We will expand internet access to fuel the next generation of innovation and e-commerce. I ask my Republican colleagues, at long last, give up on this obsession with attacking America's healthcare. Instead, let us move forward with giving America's workers and small businesses a better deal.

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RECOGNIZING THE AMERICAN CHINESE COMMERCE ASSOCIATION (HK)2017-07-26

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, if is my honor to recognize the American Chinese Commerce Association (HK) as they celebrate 20 years of exemplary service to the Asian American community. Since it began, the American Chinese Commerce Association (HK) has been a voice for Chinese immigrants and Chinese Americans living in New York City and around the globe. As one of the largest chambers of commerce in the United States, the association is committed to providing business opportunities in the American and Chinese business sectors. By assisting immigrants as they develop successful business enterprises, the association is a bold advocate for local small businesses and entrepreneurs. When it comes to maintaining business and trade relationships between the U.S. and China, the American Chinese Commerce Association works to protect the best interests of both parties. I sincerely congratulate American Chinese Commerce Association (HK) for its proud history and many achievements. The future is bright for many more years of successful and even life-changing work.

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RECOGNIZING MS. MAY LIANG MUI AND MR. BAITON YAN2017-07-26

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, it is my honor to recognize Ms. May Liang Mui and Mr. Baitong Yan on their upcoming 2017 ``No-Boundaries'' International Art Exhibition. A non-profit exhibition held annually, ``No-Boundaries'' harnesses the power of art and art education to promote social responsibility among students who hail from all corners of the globe. During this event, students have the opportunity to work alongside professional artists and cultivate a project that fuses art, culture and global human rights. Held at the United Nations (UN) in New York City, UN officials will present awards to outstanding young art students. Taken to prove that art truly has no boundaries, students of all different backgrounds will gather to traverse cultural barriers and express themselves through art. I applaud all those involved in organizing such a rich cultural event right in the center of New York City. I extend my best wishes for a successful and inspiring exhibition.

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PROVIDING FOR CONGRESSIONAL DISAPPROVAL OF THE RULE SUBMITTED BY BUREAU OF CONSUMER FINANCIAL PROTECTION RELATING TO ARBITRATION AGREEMENTS2017-07-25

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I thank the ranking member for yielding. Mr. Speaker, the right to seek redress in the courts is one of the most fundamental rights we have as Americans. Unfortunately, companies routinely try to undermine this right by including mandatory arbitration clauses in contracts we use every day, including credit cards, student loans, auto loans, and cell phones. These clauses often state that a consumer must resolve a dispute they are having with a third party often chosen by the company at a location that is chosen by the company. Companies also use these clauses to block class action lawsuits brought by consumers. Now, once again, thanks to the CFPB, contracts that have these clauses will no longer be permitted to prohibit consumers from banding together or joining a class action. This rule helps hold companies accountable and protects consumers. That is why more than 280 consumer, civil rights, labor, community, and nonprofit organizations support this rule. That is also why unscrupulous firms are lobbying so aggressively to block this rule. Stand up for consumers. Vote ``no'' on this joint resolution.

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INDEPENDENT COMMISSION FOR RUSSIA INVESTIGATION2017-07-20

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, since last year, when our intelligence community concluded that Russia sought to influence our elections, we have seen a series of terrifying headlines. This has not stopped. Last week, we found out the President's son took a meeting in which he anticipated receiving from the Russian Government damaging information on the Democratic nominee. This was after it was spelled out in black and white in an email that the information came from the Kremlin. Donald, Jr.'s, response: I love it. But now we must go further. We need an independent commission, which Congress can authorize. Speaker Ryan, these issues go beyond party. They go to the heart of our democracy. The American people deserve the truth. Allow a vote on an independent commission before the August recess.

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CONGRATULATING SING TAO NEWPAPERS2017-07-11

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, it is with great pride that I rise to congratulate Sing Tao Newspapers on 52 years of providing extraordinary news coverage from its New York branch office. As one of the oldest and most widely read news sources in the Chinese community, Sing Tao Daily was first published in 1938. Providing in- depth reporting and updates from all corners of the world, Sing Tao Daily allows Chinese citizens living abroad to remain connected with global, national and local coverage. For a number of Chinese residents of my district in the Lower East Side of New York City, Sing Tao Daily serves as that connection. Through engagement in local communities, the paper is always working to give back by supporting local arts and cultural events. I congratulate Sing Tao Newspapers for a long history of publishing first-class news coverage. I wish all the staff and journalists many more successful years to come.

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CONGRATULATING NEW YORK CITY MIDDLE SCHOOL DEBATE CHAMPIONS FOR 2016 AND 2017--MIDDLE SCHOOL 502017-06-29

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, it is with great pride and honor that I rise to congratulate the students, and teachers from Middle School 50 (MS 50)--the John D. Wells School on its successful reign as New York City Middle School Debate Champions for 2016 and 2017. MS 50 is located in the Southside of Williamsburg, Brooklyn of my district. It serves students from 6th thru 8th grade and has an enrollment that is 82 percent Latino with 21 percent of the students being English Language Learners. Despite personal challenges, these students have persevered and are competitive debaters. The school's debate program has helped students develop lifelong skills like critical thinking, verbal and written communication, leadership, teamwork, and determination. They understand that debate is an art form that requires the tactful ability to argue or refute a policy while maintaining proper decorum. Today, debate remains the bedrock of our constitution and political system. It is uplifting to know that these students recognize the power of words and understand the art of debate. I am extremely proud of them. I also want to recognize and commend Principal Ben Honoroff, Debate Coaches Jason Warren, Matthew Mason, Thuy-An Vo, Andrew Geathers, and Carolina Hidalgo, and teachers for their support of this program and working with the Middle School Quality Initiative, a New York City Department of Education program focused on preparing middle school students for college. Please join me in saluting the MS 50 Debate New York City Champion Debate Team of 2016 and 2017. Kevin Ascension, Jusue Canatero Nixon, Brandy Flores, Anthony Imbert, Kelvin Imbert, A-Tiyana Johnson, Leslie Malin, Tracey McKeever, Victoria Paredes, Reynaldo Ramos, Grant Shan, Daiana Valencia, Emma Pichardo, Crisagnelly Canario, Tarek Ali, Denise Merino, Bryan Jacinto, Mohammed Islam, Evelis Rodriguez. Deirra DuBois, Samantha Espinal, Quanique Walker, Yariel Cruz Hernandez, Solina Perez, Heaven Nesbitt, Wendy Calderon, Ariel Roman, Trystan Keohane, Michel Reyes, Fernando Espinal, Dawlin Paredez, Carlos Francisco, Merelin Penalo, Lisa Diaz, Lesly Deleon Clemente, Albert Sanchez, Yisneiry Rodriguez.

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THE JOURNAL2017-06-28

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, pursuant to clause 1, rule I, I demand a vote on agreeing to the Speaker's approval of the Journal.

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

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PULL THE PLUG ON TRUMPCARE2017-06-28

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I am pleased the Senate has postponed a vote on their TrumpCare bill, which would have deprived 22 million Americans of health coverage. The truly vicious nature of this bill is most clear when it comes to Medicaid. Are you a working family relying on Medicaid for long-term care of an aging grandparent? Well, with TrumpCare, you will pay more out of pocket. For a low-income working mom who insures her kids through Medicaid, TrumpCare takes dead aim at you. How about a person with a disability? TrumpCare means potentially losing coverage. Why did the Republicans make these cuts? To give billions of dollars in tax breaks to the wealthiest Americans and corporations. The President says the House-passed bill is ``mean.'' It is. So is the Senate cold-hearted proposal. A delay on this vote is not enough. Congress needs to pull the plug on TrumpCare, not the American people. Then we can work together on real, bipartisan healthcare legislation aimed at strengthening the system, not harming the most vulnerable among us.

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HONORING THE STAFF AND COMMUNITY AT GOOD OLD LOWER EAST SIDE2017-06-13

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I rise today in honor of the staff and community at Good Old Lower East Side (GOLES). Through tireless efforts, GOLES works to provide housing services for New York's most vulnerable residents. On the occasion of their 39th Annual Celebration, let us pause to say thank you for such life-changing work. Founded in 1977, GOLES has seen the Lower East Side change through rapid gentrification. Facing a shifting landscape, many New Yorkers and small businesses have already lost or fear losing their homes. GOLES actively works to meet the challenges of gentrification by offering tenant rights and eviction prevention counseling, successfully helping over 2,000 families avoid eviction each year. By working directly with community members living in rent-regulated public housing, the staff at GOLES are committed to preserving affordable housing and diversity on the Lower East Side. It is my honor to salute and thank GOLES for helping to keep New Yorkers in the places they call home. My sincerest wishes for a joyful and successful celebration and to many more years of groundbreaking work.

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FINANCIAL CHOICE ACT OF 20172017-06-08

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Chairman, I want to thank the ranking member, Maxine Waters. Here they come again, Mr. Chairman. My colleagues seem to suffer from a case of policymaking amnesia. I was here in 2008 as our Nation stood on the edge of financial ruin. I will never forget those dark days. Thanks to Wall Street making reckless bets and inadequate government oversight, millions of Americans lost their homes and jobs. Tell them about market discipline back in 2008. Main Street small businesses shed employees, and many shut their doors for good. Our economy nearly slid into another Depression. Now, my Republican colleagues may have forgotten that sequence of events, but let me tell you something: The American people have not forgotten. Dodd-Frank has improved accountability in the financial system. It has protected consumers and investors from predatory practices. It stabilizes our markets. And yet here we are talking about gutting this landmark law. The American people are watching. Let's be clear. If you vote ``yes,'' you are voting to restore the same conditions that fueled the crisis and collapse of 2008. It is a vote you will regret--and be remembered for. Vote ``no.''

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RECOGNIZING "MARY A. WHALEN"2017-06-06

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, on the occasion of the launch of the NYC Ferry South Brooklyn route, I rise to recognize the 79th birthday of the tanker Mary A. Whalen (The Mary). The Mary was launched in May of 1938, and now serves as a vital community landmark and asset in Red Hook, Brooklyn. As home to PortSide NewYork, a nonprofit organization, the tanker is a vessel for arts, education and vocational programs as well as public access to the waterfront. By recognizing the importance of a life of continued learning, PortSide NewYork developed Red Hook WaterStories. As a digital museum, WaterStories is a resource for both locals and visitors to learn about the history and present of the Red Hook Waterfront. PortSide NewYork received a 2013 Champions of Change White House Award for their Superstorm Sandy preparations that protected the Mary followed by creating a pop-up aid station to ensure recovery efforts for the community after the storm. The Mary is listed on the National Register of Historic Places, and is the only oil tanker cultural center in the world. On June 1, 2017, the NYC Ferry will make its maiden journey to Red Hook, pulling up right beside the Mary. I applaud PortSide NewYork for their dedication to serving the communities ashore and afloat, the Red Hook community and the maritime community of this port. On this joyful day, I wish them many more years of continued learning and success.

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CONGRATULATING THE BROOKLYN CHINESE-AMERICAN ASSOCIATION2017-06-06

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, it is my honor to congratulate the Brooklyn Chinese-American Association (BCA) on its 29th Anniversary Celebration. BCA offers life-changing services to numerous communities that have become collectively known as ``Brooklyn Chinatown''. Since its establishment in 1988, BCA has helped to meet the needs of Brooklyn's rapidly growing Asian-American community. Their daycare programs nurture children and their senior centers give the elderly a chance to meet, socialize and stay active. Through adult educational programs, BCA helps immigrants adjust to their new communities. Further, by providing naturalization assistance, BCA aids applicants in the process of becoming an American citizen. BCA is committed to preserving and revitalizing local neighborhoods, supporting clean-up campaigns and fighting for crime prevention and victim's rights. Thanks to the hard work of the staff and community at BCA, Brooklyn's communities are a better place to live, work and celebrate a diverse cultural heritage.

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HONORING THE VICTIMS AND HISTORY OF THE MS "ST. LOUIS"2017-06-06

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I rise today to recognize the 78th anniversary of the day that 937 mostly Jewish refugees aboard the MS St. Louis were denied entry to the United States. In the summer of 1939, fleeing unspeakable horrors under Hitler's regime, men, women, and children set sail in search of refuge. After being denied entry to the United States, Canada, and Cuba, many refugees were eventually accepted into several European countries. Over a quarter, however, were not so lucky and lost their lives in concentration camps. The Brooklyn Synagogue Coalition for Refugees is one of many Jewish communities across the country that will gather to hold a candlelight vigil to honor the victims and history of this anniversary. At a time when acts of fear and intolerance have dictated policies to yet again shut America's doors to those fleeing harm, we must remain committed to ensuring that America is and will continue to be a place of hope and second chances. I'd like to thank the Brooklyn Synagogue Coalition for Refugees for their hard work and dedication to the Jewish community. As we reflect on this tragic occasion, let us recommit to ensuring that no one who is in desperate need is turned away from our country's shores.

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HONORING INVESTMENTS IN RECRUITING AND EMPLOYING AMERICAN MILITARY VETERANS ACT OF 20172017-05-03

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, let me take this opportunity to thank the gentlewoman from New York for yielding. Mr. Speaker, I am pleased this legislation contains $295.9 million for Puerto Rico's Medicaid program, which is running out of resources. Absent action, hundreds of thousands of our fellow citizens could lose health care. Make no mistake, we are in this situation because of years of neglect from Washington. So, here we are again, fixing a hole created by Puerto Rico's second class treatment under Medicaid. The funding in this bill is a first step toward rectifying the longstanding unequal treatment of Puerto Rico. By the way, Mr. Speaker, and Mr. President, last time I checked the history books, it was the U.S. Armed Forces who landed in Puerto Rico in 1898, and invaded Puerto Rico. So we have a moral obligation toward the people of Puerto Rico, American citizens. Now, to the creditors, let me say this, and let me be clear: this money was not appropriated to line hedge funds' pockets. This money, and funds that would otherwise go to Puerto Rico's healthcare system, is for Puerto Ricans. So I support this funding and look forward to seeking solutions for the island's long-term growth. Finally, let me thank Leader Pelosi, Mr. Hoyer, Ranking Member Lowey, and Minority Leader Schumer for their efforts in securing these funds. I thank my colleagues.

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U.S. TERRITORIES INVESTOR PROTECTION ACT OF 20172017-05-01

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 1366, legislation that will close a loophole in our securities laws and better protect the investors and retirees of the U.S. territories. The Investment Company Act of 1940 governs investment companies, such as mutual funds, closed-end funds, and ETFs. Its purpose is to protect investors and provide oversight of these companies. In doing so, it regulates various transactions among affiliates, sets leverage limits, outlines recordkeeping requirements, and describes how securities may be redeemed. These matters sound technical, but they provide fundamental protections to most U.S. investors. I say ``most'' because, due to a historical artifact, all funds located in and sold only to residents of U.S. territories are exempted. The reason is, in 1940, territories like Puerto Rico were considered to be too distant from Washington, D.C. Obviously, modern air travel makes that a nonissue today, as regulators routinely travel to Hawaii and Alaska to conduct oversight. In addition, many of these financial products are now traded electronically, truly eliminating the need to visit in person. The consequence of exemption falls squarely on the residents of U.S. territories. Investment companies can sell products to them without the important oversight, disclosure, and conflict-of-interest requirements to which mainland companies are subject. As a result, many investors and retirees have been subject to investment losses, some resulting from behavior that would have been prohibited if the 1940 act applied to the island's investment companies. To address this matter, H.R. 1366, the U.S. Territories Investor Protection Act, applies the 1940 act to currently exempt investment companies that are located, organized in, and sold to residents of these territories. I would like to point out that this bill is identical to legislation that passed the House last Congress twice with overwhelming bipartisan support. In order to permit investment companies to comply with the legislation, it provides for a 3-year compliance period, with an option, at the approval of the SEC, for an additional 3 years. This time period balances the need to bring the investor protections of the 1940 act to the territories with enough time for affected entities to fully understand and comply with the 1940 act. It is important to note that if investment companies need further relief from any specific requirement of the 1940 act, they are able to request such relief through the SEC under existing law. Earlier this year, past SEC Chair White testified that the exemption should be removed. I want to thank Congressman Duffy and Congressman MacArthur, two of my colleagues from the Puerto Rico Task Force, for cosponsoring this bill. I also want to thank Puerto Rico's new Member of Congress, Jenniffer Gonzalez-Colon, for cosponsoring it as well; and Senators Hatch and Menendez, who have put forward a companion bill in the Senate. All of this support means a great deal to me and to those investors on the island. Finally, I want to thank Chairman Hensarling and Ranking Member Waters for working with me throughout the last 2 years in a highly productive manner. We met with stakeholders, heard their concerns, and fine-tuned the bill. I am confident we developed an approach that would apply the 1940 act in a manner that is sensitive to investors and investment companies alike. Mr. Speaker, I urge Members to support this bill, and I reserve the balance of my time.

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. Closing the U.S. territories loophole in the Investment Company Act of 1940 will give millions of investors and retirees--mostly in Puerto Rico--the peace of mind that their hard-earned money will receive the same level of protection afforded to those on the mainland. I want to thank the chairman, the ranking member, and all the cosponsors for their hard work in bringing this bipartisan legislation to the floor. Mr. Speaker, I urge Members to support this bill, and I yield back the balance of my time.

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SMALL BUSINESS CAPITAL FORMATION ENHANCEMENT ACT2017-05-01

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 1312, a commonsense measure that will ensure the SEC responds to recommendations that will reduce barriers to small businesses' capital formation. Access to capital is the lifeblood of every business. As ranking member of the House Small Business Committee, I hear this on a near daily basis. It is as true today as it was 65 years ago when Congress created the Small Business Administration. Since that time, Congress has taken steps to better understand the needs of our small businesses and find ways to improve access to capital. In 1980, we created the Government-Business Forum on Small Business Capital Formation at the SEC. This body helps policymakers learn about unnecessary impediments to small business capital formation and address how they can be eliminated or reduced. However, the SEC isn't currently required to act on the forum's recommendations. The Small Business Capital Formation Enhancement Act changes the SEC's obligation by requiring the Commission to respond to the recommendations made by the annual Government-Business Forum. This bill is modeled after a similar provision in the Dodd-Frank Act requiring the SEC to respond to the recommendation of the Investor Advisory Committee. However, there are important distinctions between the recommendations of the IAC and the forum. Specifically, the IAC is limited by statute to 23 members. By contrast, the forum is open to all public and private participants. As a result, the IAC has only issued 12 recommendations since its first meeting in 2012. During the same timeframe, the forum issued 98 recommendations. While I understand the desire to have the SEC respond to each of the forum's recommendations, I would remind my colleagues that the SEC has the important duty to police our financial markets. Therefore, I hope my colleagues will remember these additional duties and set appropriate funding levels for the SEC to ensure agency resources are not being diverted from its crucial examination and enforcement activities. I would like to thank Mr. Poliquin and Mr. Vargas for crafting this bipartisan bill to ensure that the voice of our small business community is heard. Mr. Speaker, I urge Members to support this legislation, and I reserve the balance of my time.

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

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PUERTO RICO MEDICAID FUNDS EVAPORATING2017-04-27

Ms. VELAZQUEZ

Ms. VELAZQUEZ. Mr. Speaker, while my Republican colleagues take their sweet time passing a bill to fund the government, Puerto Rico is watching its Medicaid funds evaporate. In this package, we must provide sufficient resources to address this shortfall from the funding authorized under the ACA that is already owed to the people of Puerto Rico. I remind Congress the funding under discussion would close a Medicaid shortage that was created by the unequal treatment of American citizens in Puerto Rico, fueling a healthcare crisis of historic proportions. Last year, Speaker Paul Ryan committed to helping the people of Puerto Rico. As he, himself, recognized, these are our fellow citizens. Yes, Mr. President, they are American citizens. They have fought, shed blood, and given their lives in nearly every major war, yet they have been treated unfairly for decades. Donald Trump's own HHS Secretary recently acknowledged Puerto Rico needs $900 million to fund Medicaid. For once, I agree with the Secretary.

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