Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement following President Biden’s release of his Fiscal Year 2022 budget:
“President Biden’s proposed budget is a welcome sight for small businesses that have been struggling for well over a year under the COVID pandemic. This transformative proposal makes a generational commitment to American small businesses. It will help provide the boost small firms need to get to the other side of this crisis and move towards prosperity. This budget will drive small business growth and create millions of jobs by making a substantial investment in areas like infrastructure, clean energy, and public health.
“After years of underinvestment in American small business, President Biden’s budget makes clear that entrepreneurs are a priority once again. The proposal would raise the SBA’s budget by 8% following years of cuts by President Trump. By enacting the policies outlined in this budget, we can strengthen critical SBA programs that increase access to capital, deliver vital counseling and training, and increase federal contracting opportunities for small firms. I’m also pleased to see the administration’s commitment to increasing equity reflected in this proposal. This pandemic has battered businesses owned by women, veterans, and social and economically disadvantaged groups, and it will take deliberate policy to get them to full recovery. I look forward to evaluating these proposals with my colleagues on the Small Business Committee and working to craft a budget that meets the needs of American small business owners and employees.”