Encouraging Success Act

Floor Speech

Mr. Speaker, I thank my colleagues, Representatives Ellzey and Thanedar, for their work on this bill, the Encouraging Success Act.

The 8(a) program is one of the most effective tools for minority businessowners to get their foot in the door of the Federal marketplace.

The program is critical for entrepreneurs who have faced discrimination. This bill requires the SBA to regularly assess, and, when necessary, update the economic threshold for program participation.

I share the sponsors' concerns that the lack of reassessment or readjustment can penalize growth and that a regular assessment will ensure that the program keeps pace with changing economic environments.

Mr. Speaker, the National Minority Supplier Development Council has said that this legislation will enhance the effectiveness of SBA programs, including the esteemed 8(a) program, ensuring they continue to serve as powerful catalysts for community wealth building and inclusive economic development.

The 8(a) program remains a win-win for the government and for communities across the country. It has led to a more diverse Federal market and supply chain, provided billions of dollars annually through streamlined contracting processes for minority businessowners, and continues to work to help minority businessowners overcome the real and ongoing discrimination that would otherwise hold them back.

Keeping 8(a) intact and relevant must remain a top priority. I appreciate the sponsors for their work, and I reserve the balance of my time.

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Ms. VELAZQUEZ. Mr. Speaker, again, I appreciate the great work of my colleagues on this bill, and I yield myself the balance of my time.

I will close by noting that 3 weeks ago, the committee held a hearing on small business size standards and contracting policies and the barriers they can pose to growth.

As we discussed, the Federal Government needs to both recruit and retain small business government contractors.

We are seeing that retaining small firms, like those in the 8(a) program, is a necessity for the health of the industrial base.

This bill will contribute to the retention of growing small businesses. It is a productive step designed to ensure that minority businessowners can succeed, thrive, and grow in the Federal marketplace and beyond.

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