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Velázquez Introduces Bill to Provide Pathway to Entrepreneurship for the Currently and Formerly Incarcerated

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Washington, D.C.— Today, House Small Business Committee Ranking Member Nydia M. Velázquez (D-NY) introduced the Prison to Proprietorship Act, a bill to increase access to entrepreneurial training for the currently and formerly incarcerated.   “Research has shown that the strongest predictor for recidivism is poverty. The stigma of incarceration often deprives returning citizens the…

Velázquez Conducts Oversight of SBA Office in Charge of Loan Programs

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Washington, D.C.— Today, the House Small Business Committee held a hearing reviewing the Small Business Administration’s (SBA) Office of Capital Access (OCA). During the hearing, Ranking Member Nydia M. Velázquez (D-NY) focused on OCA efforts to prevent fraud and abuse, recent changes to the 7(a) program, and how Congress can continue to empower the office to reach more small…

Ranking Member Velázquez’s Statement on GOP Subpoenas to SBA

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Washington, D.C. –Today, Rep. Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, issued the following statement regarding subpoenas issued by committee Republicans to the Small Business Administration (SBA):               “Today, the House Small Business Committee issued a subpoena for the first…

Velázquez Examines Impact of Anti-Money Laundering Law on Small Businesses During Committee Hearing

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 Washington, D.C.— Today, the House Small Business Committee held a hearing examining the impact of the Corporate Transparency Act (CTA), legislation to crack down on foreign and domestic criminals who exploit weak federal laws to engage in illegal activity through anonymous shell companies. During the hearing, Ranking Member Nydia M. Velázquez (D-NY) highlighted the relatively…

House Passes Four Bipartisan Small Business Bills to Mark Small Business Week

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Washington, DC - Today, the House passed four bipartisan small business bills, including legislation to better support underserved entrepreneurs and address the challenges facing small government contractors. “As we recognize National Small Business Week, we have much to celebrate as we’ve seen more than 17 million new businesses starts since President Biden took office,” said…

Ranking Member Velázquez Applauds Committee Passage of Seven Bipartisan Small Business Bills

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Washington, DC - Today, the House Small Business Committee passed seven bipartisan small business bills to better support underserved entrepreneurs, increase access to capital, and improve federal procurement rules for small firms.     “These seven bills will make needed improvements to SBA programs and services – from focusing on rural, disaster, and disabled communities…

SBA Administrator Guzman Testifies on Agency Priorities and FY 25 Budget Justification During Committee Hearing

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Washington, DC – Today, Small Business Administration (SBA) Administrator Isabel Guzman testified before the House Small Business Committee on agency priorities and the agency’s FY 2025 budget justification during a full committee oversight hearing. During the hearing, Ranking Member Nydia M. Velázquez (D-NY) highlighted small businesses' progress under the Biden administration, examined…

Committee Report Outlines Impact of Artificial Intelligence on Small Content Creators

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Washington, DC— Today, House Small Business Committee Ranking Member Nydia M. Velázquez (D-NY) released a report exploring the impact of the increasing popularity of generative artificial intelligence (GenAI) on America’s small content creators. GenAI threatens the livelihoods of small creators, given the technology’s ability to generate content faster and cheaper than creative…

Ranking Member Velázquez on February Jobs Report

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Washington, D.C. – Today, Rep. Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, issued the following statement after the Labor Department released its February jobs report showing that nonfarm payroll employment increased by 275,000:          “Last night, President Biden detailed our country’s incredible economic progress under…

Velázquez Introduces Bill to Launch Student Loan Debt Forgiveness Program for Entrepreneurs

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Washington, D.C.— Today, House Small Business Committee Ranking Member Nydia M. Velázquez (D-NY) introduced a bill to establish a student loan debt forgiveness and deferment program for entrepreneurs. The Supporting America’s Young Entrepreneurs Act of 2024 seeks to lower one of the most prominent barriers to starting a business, outstanding student loan debt. “Today, debt is weighing…

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