Tim Scott: “we know exactly what will happen if this amendment is passed. Similar legislation was passed before and the result is…”

“we know exactly what will happen if this amendment is passed. Similar legislation was passed before and the result is always the same. Opportunities for minorities and women will disappear. For example, in Michigan, when they eliminated their program, minority businesses were totally shut out of billions of dollars of State contracting dollars. Mr. Chairman, we do not live in a color-blind world. According to a study by the Department of Transportation, a white-owned construction firm will likely receive 50 times more bonding authority than an identically situated black-owned firm. In addition, we know that minorities and women are discriminated against in access to capital and are still excluded from many business opportunities and social circles where many important business decisions take place. That is why white males who represent one-third of the population already get over 90 percent of the contracts. This amendment does nothing to deal with that vile discrimination. We can dress up this amendment by describing it in glowing rhetorical terms, but we know what it will do. It will devastate the future opportunities for minorities and women. Therefore, Mr. Chairman, I ask for a no vote on this amendment.”