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Economic Development
CAPAC Economic Development Taskforce
Chair Rep. Judy Chu (CA-32)
1520 Longworth
(202) 225-5464
chu.house.gov
Promote Access to Capital
- Identify discrimination in lending by continuing to promote the collection of data on small business borrowers by race, ethnicity, and gender, and evaluating the status of the data collection provision in the Wall Street Reform Act that was successfully pushed for by CAPAC and the CBC.
- Ensure that AAPI businesses receive culturally and linguistically appropriate outreach in the newly passed $30 billion Small Business Lending Fund, which Reps. Carson, Chu, Green, and Honda successfully offered as an amendment to the Fund.
- Monitor upcoming legislation to ensure the minority business community’s lending needs are met.
Promote Access to Contracting and Procurement
- Hold federal agencies accountable to their contracting goals; federal agencies missed their small business contracting goals by 2%, and that translated to a loss of $10 billion for the small business community.
- Work with the Government Accountability Office (GAO) on a report to assess the outreach and development program for minority businesses to understand the challenges minority businesses face when working with federal agencies. This will be a basis for future legislation to help minority businesses win contracts.
- Promote awareness and participation in federal technical assistance programs by holding federal agencies accountable to AAPI-owned businesses, pushing for AAPI language access, fighting for AAPI outreach, and increasing funds for outreach and education.
Promote Workforce Diversity for AAPIs in the Public and Private Sectors
- Address glass ceiling preventing AAPIs from obtaining managerial position in public and private sectors by advocating for promotion of workforce and management diversity with federal agencies and private corporations.
- Provide oversight over federal agencies plans to increase the AAPI workforce required by the White House Initiative on Asian Americans and Pacific Islanders (WHIAAPI)
- Follow up on Comcast’s diversity commitments that were successfully secured by CAPAC, in collaboration with the Asian-American Media Coalition and Asian-American Justice Center, and work to improve media diversity overall.
Support Reauthorization of the Workforce Investment Act
- Support reauthorization of the Workforce Investment Act that better meets the needs of AAPI workers and families by providing high-quality training for workers that will lead to good jobs available now and the future.