Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after President Joe Biden released his $1.5 trillion proposal for discretionary spending in fiscal year 2022:
“President Biden’s first budget request to Congress is a welcome change following years of senseless proposed cuts to the SBA under the Trump administration. Sparking an equitable small business recovery is a priority for the Biden administration. This proposal reflects the administration’s commitment to our nation’s small firms by increasing SBA funding by 9.4% compared to 2021 funding levels. This proposed budget will provide Congress with a blueprint to achieve that goal.
“I am especially pleased to see that the budget request emphasizes investment in underserved entrepreneurs. The pandemic has devastated minority, women-owned, and rural small businesses. To build the small business economy back better, we must ensure that these entrepreneurs aren’t left behind. I look forward to working with my colleagues in Congress to ensure that small businesses have the federal resources they need to make a full recovery.”