Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after the House passed the Consolidated Appropriations Act for FY 2022:
“Last night, the House took the critical step of passing appropriations legislation that represents a transformational investment in working families. As we continue to progress in our recovery from the pandemic, it’s vital that our government’s funding reflect the needs of the American people. That’s why I was proud to support this legislation which takes steps to lower costs, create jobs, and support the most vulnerable among us. The bill does this by allocating $730 billion in non-defense funding toward significant investments in areas like childcare, green energy, affordable housing, and public health.
“This legislation also makes a substantial investment in our nation’s small businesses by allocating over $1 billion in funding to the Small Business Administration, $109 million above the FY21 enacted level. In addition, the bill increases allocations for SBA entrepreneurial development programs that provide critical training and counseling to business owners. By boosting the budgets of crucial programs like Growth Accelerators, Small Business Development Centers, Veterans Outreach, and Women’s Business Centers, this bill will help more entrepreneurs access vital assistance and training.
“As small businesses continue to recover from COVID, we must ensure they have access to the capital needed to grow. I worked to ensure this omnibus provides ample funding to SBA loan programs that help entrepreneurs start and grow their businesses. The bill also adjusts funding levels for SBA’s 504 loan program, ensuring the initiative can meet increased demand for loans this fiscal year and continue serving business owners’ moving forward. I was also glad that this package increased funding for SBA’s disaster assistance programs and provided the SBA’s Office of Inspector General with the resources they need to provide proper oversight.
“Small businesses are the backbone of the American economy and leading the way in our recovery. This package will help ensure they have the resources needed to continue to push us forward. I thank Chairwoman DeLauro and the Members of the Appropriations Committee for their work on this bill, and I urge my colleagues in the Senate to quickly send it to President Biden’s desk.”