Small firms are the backbone of the American economy, and nowhere is that more clear than in New York City. More than 200,000 small businesses throughout the Big Apple produce $4.5 billion per year in revenue, helping to make our city the vibrant and diverse place that it is.
As Ranking Member of the House Committee on Small Business, Congresswoman Velázquez is dedicated to helping entrepreneurs. She supports initiatives to limit the impact that rising energy costs and regulatory and tax burdens have on small businesses. Small firms also need assistance from Congress to secure better financing for capital purchases, obtain world-class training and development programs, and open doors to sell their products and services around the globe. Assisting small firms secure affordable health insurance for themselves and their employees is another top priority.
Our nation has always relied on the proven innovation and flexibility that comes with a small business economy. Entrepreneurs count on Congresswoman Velázquez as an unyielding advocate of their rights and needs, and can be certain that she will continue her efforts to provide them with the tools needed to succeed.
More on Small Business
Washington, DC – Rep. Nydia M. Velázquez (D-NY) led seventeen of her House colleagues in calling on regulatory agencies to investigate whether Wells Fargo’s unethical cross-selling practices and illegal opening of secret accounts extended to its small business lending division. As the Ranking Democrat of the House Small Business Committee and a senior Member of the Financial Services Committee, Velázquez previously questioned Wells Fargo’s CEO about the topic at a Congressional hearing.
Washington, DC – With student loan debt mounting nationally, Rep. Nydia M. Velázquez (D-NY) today announced legislation that would assist college graduates who launch their own businesses with deferment options and forgiveness on most federally subsidized student loans. Her bill, H.R. 6197, the “Supporting America’s Young Entrepreneurs Act,” aims to foster business creation by removing one hurdle preventing graduates from launching their own ventures – the rising costs of securing a college degree.
Washington, DC – U.S. Rep. Nydia M. Velázquez (D-NY) today called on Governor Cuomo to help small businesses impacted by the Chelsea explosion. Under federal law, a state’s governor can certify that businesses have suffered economic harm from a disaster, which then allows small businesses, homeowners and renters to apply for emergency loans from the U.S. Small Business Administration (SBA). In a letter to Cuomo, Velázquez called for the Governor to exercise this option.
Washington - Rep. Nydia M. Velázquez released the following statement regarding lower estimates for funding for Red Hook Flood Protection: