Welcome back to my Small Business Newsletter! 

Since my last newsletter, the Small Business Committee has held hearings on the nomination of Biden’s Deputy Administrator, minority and women contracting, and an update from the current Administrator of the Small Business Administration. COVID-19 has had devastating impacts on our nation, not least of all our economy. The recent jobs report proves that the Biden economy is not working. At a time when our economy should be booming through the recovery and generating millions of jobs, we’ve only seen an increase of 266,000 jobs. With unemployment ticking up to 6.1% last month, 42% of small business owners have at least one job opening that can’t be filled. We need smart solutions that will get Americans back to work. 

National Labor Shortage

Federal resources for small businesses such as the COVID-19 Economic Injury Disaster Loan, which provides economic relief to small businesses and non-profit organizations currently experiencing a temporary loss of revenue, are instrumental for our recovery. It’s no secret small businesses are struggling to survive during this period of tribulation. With a widespread labor shortage it is imperative for Congress to ensure that job creators are able to create and maintain jobs. 

For more information on COVID-19 relief resources for small businesses, please click here. 

Minority Business Development Agency

Over the course of the past several weeks, I have been working on a bipartisan basis with Chairman Cardin, Chairwoman Cantwell, and Ranking Member Wicker on legislation to authorize the Minority Business Development Agency (MBDA) into law. The MBDA provides vital resources to our nation’s minority owned businesses and I am proud to work with my colleagues on both sides of the aisle to get this done. 

Minority-owned small businesses and entrepreneurs of color have been hit disproportionately hard during the pandemic. This provision will provide the MBDA with critical resources to help folks get back on their feet.

Last year, I championed several provisions within the various COVID stimulus bills that provided extra resources to the MBDA. Included in the legislation was extra funding, new initiatives for the agency, and more support for our struggling small businesses.

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Have a great week!

Sincerely,