Nydia M. Velazquez: “The underlying bill makes permanent the Community Express Program, which provides loans up to $250,000 to businesses…”

“The underlying bill makes permanent the Community Express Program, which provides loans up to $250,000 to businesses which are owned by certain favored groups such as women, minorities, veterans, or socially or economically disadvantaged individuals. The measure does not define what it means for a business owner to be 'economically disadvantaged.' This would require that the Small Business Administration would consider as economically disadvantaged those business owners that can demonstrate that they have been adversely impacted by an increase in the Federal minimum wage. The importance of this motion is clear in the face of the failure of this House and the conferees on the supplemental appropriations bill that will be considered later tonight to adequately provide tax relief to those small businesses most impacted by an increase in the minimum wage.”