Washington, D.C. -  La Congresista Hilda L. Solis (CA-32) envió hoy la siguiente carta al Secretario del Tesoro de los Estados Unidos Henry Paulson, instándolo a que garantice la diversidad en la contratación del Departamento del Tesoro de los agentes financieros que ejecutarán el Acta de Emergencia de Estabilización Económica (EESA) del 2008 (Ley Pública 110-343).   

Ayer, el Departamento del Tesoro pidió a agentes financieros que sometieran propuestas para la ejecución del EESA para el miércoles.  Las propuestas ganadoras se darán a conocer este viernes y se encargarán de supervisar la compra del gobierno federal de hasta $700 mil millones de dólares de bienes poco comercializables.  Sin embargo, las tres primeras solicitudes tasadas con eficacia dejaron a las empresas de latinos y de mujeres fuera de la consideración basado en los requisitos de bienes.          

Bajo el EESA, el Departamento del Tesoro puede renunciar a las Regulaciones Federales de Adquisición (FAR) referente a la contratación de minorías.  En su carta, Solis insta al Departamento a que observe los reglamentos de contratación de minorías y que dé prioridad a las solicitudes que puedan proporcionar oportunidades significativas a las empresas de latinos y de mujeres que califiquen como subcontratistas. 

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October 7, 2008

Honorable Henry M. Paulson

Secretary, Department of the Treasury

1500 Pennsylvania Avenue, NW
Washington, D.C. 20220

Dear Secretary Paulson:

Last Friday Congress passed and the President signed the Emergency Economic Stabilization Act (EESA), historic legislation meant to help address the economic challenges facing our nation during this tumultuous time. As you work expeditiously to implement the EESA, I urge the Department of Treasury (Treasury) to ensure diversity in the selection of financial agents to undertake and implement this legislation. In that effort, I urge the Department of Treasury not to utilize the authority granted in Section 107 to waive Federal Acquisition Regulations (FAR) pertaining to minority contracting as authorized in Public Law 110-343. I also urge Treasury to prioritize requests that can provide meaningful opportunities to Latino- and women-owned businesses as subcontractors, as included in Treasury’s Notices to Financial Institutions.

On October 6, 2008 the Treasury outlined procurement authorities and procedures for its solicitations for financial agents under the EESA. The Treasury noted that due to the “paramount need for expeditious implementation of the Secretary’s authorities” that “Treasury anticipates that a number of contracts will be awarded through other than full and open competition.” Treasury also noted that the EESA grants the Treasury the authority, under certain specified conditions, to waive provisions of FAR. Specifically, EESA grants Treasury broad latitude to “develop and implement standards and procedures to ensure, to the maximum extent practicable, the inclusion and utilization of minorities,” allowing the Secretary the discretion to determine practicable standards and procedures.

I understand that the severity of the current economic crisis necessitates an expedited timeline for the implementation of EESA.  However, the authority granted in Section 107 of EESA to waive FAR pertaining to minority contracting is unprecedented and contrary to other processes and procedures in statute.  Given the scope of the impact the processes allowed under the EESA could have, it is critical that Treasury avoid use of this authority and ensure diversity in its selection of financial agents to the maximum extent possible by including Latino- and women- owned firms.

Furthermore, I am concerned that the requirements included in the solicitations dated October 6, 2008 may preclude many Latino- and women-owned businesses from meaningful participation in the implementation of EESA, many of which are important partners in communities across the country. I recognize that Treasury requested information regarding the ability of the requestor to provide meaningful opportunities to Latino- and women-owned businesses as subcontractors in the Notice to Financial Institutions. This information is also listed as a non-exclusive factor for the purposes of evaluating the requestor’s application. However, this information is meaningless if Treasury fails to prioritize the selection of Latino- and women-owned businesses as primary financial agents of the government and as subcontractors to selected financial agents, either through use of the waiver authority in section 107 or by choosing financial agents who cannot provide meaningful opportunity for the participation of these firms as subcontractors.

Latino and women-owned businesses play an important impact on our economy. It is estimated that 2.2 million Latino-owned businesses will generate close to $388.7 billion in revenues in 2008.  Projections show that the number of Latino-owned businesses in the United States is expected to grow 41.8 percent in the next six years to 4.3 million, with total revenues surging 39 percent to more than $539 billion, and approximately 7.7 million businesses in the United States are majority-owned by women. These and many other Latino- and women-owned businesses work closely with communities most affected by the economic crisis. The wide availability of qualified Latino and women-owned firms leave little reason not to include them among the financial agents and subcontractors selected to manage implementation of EESA.

It is vitally important that our government, even in times of crisis, maintain the diversity that makes our country strong.  With the short amount of time that Treasury has allotted for the submission of applications requests for consideration as a financial agent under EESA, I urge you to avoid utilizing the authority granted in Section 107 and give ample consideration to applications from Latino-owned and women-owned firms as financial agents and subcontractors.

I appreciate your attention to this serious matter and the opportunity to speak with you further regarding my concerns. I look forward to your prompt response.

Sincerely,

HILDA L. SOLIS

Member of Congress