Washington, D.C. – Today, Congresswoman Marilyn Strickland (WA-10) introduced the Investments in Innovation Act. The bill strengthens the Small Business Investment Company (SBIC) program by encouraging investment in minority small businesses
“When small businesses thrive, the communities around them thrive,” said Strickland. “Incentivizing investments in minority-owned businesses will boost local economies, improve the job market, and build capital for business owners and investors.”
“One of the biggest challenges for small businesses is that the playing field on which they operate is uneven. This is especially true for small businesses owned by women and people of color. These under-resourced entrepreneurs sometimes need a helping hand, and legislation that would incentivize investment in the small businesses that need the most support is exactly the kind of policy that our nation’s lawmakers should get behind,” said John Arensmeyer, Small Business Majority Founder and CEO.
The bill is endorsed by the Main Street Alliance, and the Small Business Majority.
Representative Adam Smith (WA-09) co-sponsored the bill.
You can read the full legislation here.
Congresswoman Marilyn Strickland (WA-10) serves on the House Armed Services Committee and the House Transportation and Infrastructure Committee. She is Whip of the New Democrat Coalition, Secretary of the Congressional Black Caucus, and is one of the first Korean-American women elected to Congress.
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