[Congressional Record Volume 167, Number 212 (Wednesday, December 8, 2021)]
[Senate]
[Page S9048]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. PADILLA (for himself and Mr. Wicker):
  S. 3340. A bill to establish a competitive grant program to provide 
assistance to support small businesses and business district 
revitalization in low-income, rural, and minority communities, and for 
other purposes; to the Committee on Environment and Public Works.
  Mr. PADILLA. Mr. President, I rise to speak in support of the 
Revitalizing Small and Local Businesses Act, which I introduced today.
  Even before the onset of the COVID-19 pandemic, historic 
underinvestment in certain communities left their small businesses and 
business districts more vulnerable to economic shocks and limited 
economic opportunities.
  Main Street programs and business district organizations have played 
an important role in supporting businesses through the economic crisis 
and will continue to play a critical role in supporting a strong, 
inclusive recovery. While many communities need place-based supportive 
services tailored to their unique needs, Federal investments have not 
meaningfully supported these entities.
  As we work to build back better, we have an opportunity to improve 
equitable access to economic development resources by leveraging the 
expertise of nonprofit partners with deep connections to small 
businesses and the organizations that serve them.
  That is why I am proud to introduce this bill together with Senator 
Wicker to create a new $250 million Economic Development Administration 
grant program to support place-based supportive services to provide on-
the-ground assistance in both urban and rural communities.
  This bill would strategically and efficiently deploy funding to 
support the vital work of local programs to revitalize small businesses 
and business districts as these communities, particularly low-income, 
rural, and minority communities, seek to recover from the devastating 
economic effects of the pandemic.
  It would support job retention and creation opportunities as well as 
deliver vital technical assistance to small businesses.
  I thank Senator Wicker for coleading this bill with me, and I hope 
our colleagues will join us in support of this bill to empower place-
based entities to respond to economic recovery needs through locally 
tailored solutions.

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