Joe Baca: “I rise to support H.R. 3867, the Small Business Contracting Program Improvements Act. I want to thank my colleague…”

“I rise to support H.R. 3867, the Small Business Contracting Program Improvements Act. I want to thank my colleague, Chairperson Velazquez, for her leadership. Small business is the backbone of our economy. And I state, small business is the backbone of our economy. Over 4 million minority businesses represent almost 20 percent of all firms in this country. They generate nearly $7 billion annual revenue and employ almost 5 million workers. And I state, 5 million workers. Minorities make up 32 percent of the population of this country, but they only represent 18 percent of all small businesses. This bill will close the gap, and I state, will close the gap by improving the Small Business Administration's small and minority business procurement programs and will help disabled veterans, women, minority businesses, both Hispanic, black, Asians and others, and provides small business minority businesses the assistance they need to grow and prosper. Like in the Inland Empire where the majority of businesses are small businesses and represent the largest growth and the engine that drives the economy in the State of California, SBA 8(a) programs, which open the doors to more than half of all Federal minority business contracts, have not been updated since 1988. This bill revamps the program to improve 8(a) firms' ability to secure in the Federal sector. It is time to level the playing field so the small minority business firms have equal access to Federal contracts.”