April 21, 2021

Cortez Masto, Colleagues Introduce Legislation to Expand & Make Permanent Minority Business Development Agency

Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) introduced the Minority Business Resiliency Act of 2021. The bill would make permanent and expand the reach of the Minority Business Development Agency (MBDA), which was created by Executive Order in 1969. The bill would also place MBDA regional offices in more communities, increase the agency’s grant making capacity, and create a Senate-confirmed Assistant Secretary of Commerce for Minority Business Development.

“It’s critical for Congress to expand and make the Minority Business Development Agency permanent, so that Nevada’s communities of color have access to the resources and support they need to create and sustain successful businesses. I’m proud to join my colleagues in leading this legislation, and I’ll continue to do everything I can to help level the playing field for Nevada’s diverse business owners.”

This legislation is also supported by U.S. Senators Chuck Schumer (D-N.Y.), Ben Cardin (D-Md.), Maria Cantwell (D-Wash.), Jacky Rosen (D-Nev.), Alex Padilla (D-Calif.), Kyrsten Sinema (D-Ariz.), Cory Booker (D-N.J.), Chris Van Hollen (D-Md.), Raphael Warnock (D-Ga.), Dianne Feinstein (D-Calif.), Ben Ray Lujan (D-N.M.), Richard Blumenthal (D-Conn.), Dick Durbin (D-Ill.) and Tina Smith (D-Minn.). To download a section-by-section summary of the bill, click here.

Senator Cortez Masto is committed to ensuring Nevada’s minority-owned and small businesses have the resources, information, and tools they need to thrive, especially in light of the ongoing coronavirus pandemic. Yesterday, she visited the White House to advocate for additional support to help Hispanic-Americans get back to work and to boost their small businesses. Senator Cortez Masto also called on the Small Business Administration (SBA) and Treasury to ensure minority-owned businesses have equal access to receive funds from the Paycheck Protection Program (PPP) and that unbanked and minority-owned businesses receive the relief funding they need to weather the pandemic. In addition, Senator Cortez Masto introduced the Minority Business Resiliency Act during the last congressional session.