Recognizing the 50th Anniversary of the National Minority Supplier Development Council.

Whereas the National Minority Supplier Development Council (hereinafter referred to as NMSDC Whereas NMSDC is the longest-operating business growth engine for the broadest group of systematically excluded communities of color, including Asian-Indian, Asian-Pacific, Black, Hispanic, and Native American communities; Whereas NMSDC champions upward mobility for the emerging majority of Americans, creating an equal shot at participating in the American experiment of free-market capitalism and entrepreneurship, and correcting the unequal access to wealth-building opportunities; Whereas, in 1969, President Richard M. Nixon established the Office of Minority Business Enterprise, which would later become the Minority Business Development Agency, recognizing the impact of minority businesses on the Nation’s economy; Whereas, in 1971, the White House issued Executive Order 11625, expanding the scope of the agency to authorize grants to public and private organizations; Whereas, in 1972, a group of Chicago companies led by Robert Stuart of the National Can Corporation, founded the National Minority Purchasing Council in 1972, later becoming NMSDC; Whereas, over the last 50 years, NMSDC has connected over 15,000 minority business enterprises (as defined in section 100002(9) of the Minority Business Development Act of 2021 ( 15 U.S.C. 9501(9) MBEs Whereas NMSDC is challenging Congress and the country to move the needle toward economic parity for all at a time when— (1) Black businesses received only 1.67 percent, Hispanic businesses received only 1.78 percent, and Asian-Pacific businesses received only 1.23 percent of more than $559 billion in Federal contracting dollars eligible for small businesses in 2020; (2) White households are eight times wealthier than Black households and five times wealthier than Hispanic households; (3) 40 percent of Black business owners do not apply for financing because they expect to be rejected; (4) systematically excluded communities of color are up to twice as likely to have a mortgage application denied; and (5) workers from communities of color are two to five times less likely to be promoted to managerial positions; Whereas, as part of NMSDC’s 50th Anniversary, it has set a bold goal to reach $1 trillion in MBE annual revenue, almost four times the direct annual revenue; Whereas, if the United States continues to grow MBEs and help them reach their full potential, an estimated $8 trillion can be added to the gross domestic product; Whereas the United States can close the wealth gap by leveling the playing field, creating a society where everyone has an equal opportunity to succeed, and by taking the American dream and turning it into an American reality; Whereas growth for MBEs means growth for all Americans; Whereas division K of the Infrastructure Investment and Jobs Act ( Public Law 117–58 15 U.S.C. 9501 et seq. Whereas the largest investment of Federal funding in a generation is a key opportunity to shrink the wealth gap; Whereas historic infrastructure investments provide a once-in-a-lifetime opportunity to increase the Government’s spending with MBEs while building the infrastructure that will help the United States thrive in the coming decades; Whereas, whether it is building the transportation infrastructure of the future, expanding broadband access, or ensuring our water infrastructure is ready for the challenges presented by climate change, MBEs can and should play a central role; Whereas the Federal Government should ensure that the Federal procurement process encourages robust MBE participation; and Whereas, in 2021, President Biden announced the White House’s plan to increase racial equity and support underserved communities by promoting the equitable delivery of Government benefits and contract opportunities for Federal Government projects: Now, therefore, be it That the House of Representatives— (1) recognizes that the National Minority Supplier Development Council plays a key role in ensuring minority business enterprises are ready to help the United States build the future infrastructure and the resilient, diverse economy needed to compete in the 21st century and beyond; (2) celebrates the 50th Anniversary of the National Minority Supplier Development Council; and (3) acknowledges the impact and contribution the National Minority Supplier Development Council has on the economy of the United States and, more importantly, in the lives of our citizens of color across this Nation.

Summary: This resolution recognizes the 50th anniversary of the National Minority Supplier Development Council.