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Cortez Masto Introduces Legislation to Invest in Minority-Owned Businesses

Statement

Date: July 2, 2020
Location: Washington, DC
Issues: Business and Consumers

U.S. Senator Catherine Cortez Masto (D-Nev.) and U.S. Senators Ben Cardin (D-Md.), Maria Cantwell (D-Wash.), and Cory Booker (D-N.J.) today introduced the Minority Business Resiliency Act. The bill would make the Minority Business Development Agency (MBDA), which was created by Executive Order in 1969, permanent and expand the reach of the agency by creating regional MBDA offices, strengthening its grant making capacity, and increasing its coordination with other federal agencies.

"In Nevada, our minority-owned businesses serve the needs of our incredibly diverse communities, but the economic crisis caused by the coronavirus pandemic has had a disproportionate impact on minority entrepreneurs. In this time of crisis, it's more important than ever that we do everything we can to support minority-owned businesses, and that includes putting in place these permanent programs to foster entrepreneurship and build wealth in Nevada's communities of color."


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