Political Quotes

“I want to begin by thanking Congressman Duffy for his outstanding work on this bill and on this particular amendment. I also want to thank Congressman Don Young, a steadfast champion for fair treatment for Puerto Rico who is also a cosponsor of this amendment. The primary purpose of this amendment is to increase small business activity and promote job creation in Puerto Rico. The HUBZone program supports economically distressed communities throughout the Nation. If the poverty rate or median income in a census tract meets a certain threshold, it is designated as a qualified census tract. Small businesses located in a qualified census tract can compete for Federal contracts with preference, assuming they meet all other criteria established by law. However, there is a statutory cap which prevents the combined population of the qualified census tracts within a metropolitan statistical area from exceeding 20 percent of the total population of that area. Although the cap applies nationwide, it has a uniquely negative impact in Puerto Rico. Small firms located in over 60 municipalities in Puerto Rico cannot take advantage of the HUBZone program solely because of the cap. No other U.S. State or territory comes anywhere close to being as adversely affected by the cap as Puerto Rico.…”