On January 7, 2020, the Senate confirmed U.S. Treasurer Jovita Carranza as the 26th Administrator of the Small Business Administration (SBA). During her testimony before the Senate Committee on Small Business and Entrepreneurship, Carranza listed a number of priorities she will bring to her role at SBA. Below are notable priorities that may impact small businesses and/or government contractors.
Provide Better Resources to Small Businesses in Disadvantaged Communities
Carranza mentioned that connecting small businesses from disadvantaged communities with SBA support services is the key to helping them win profitable government contracts. Some disadvantaged businesses she noted in particular were African-American or Latino-owned businesses, as well as veteran-owned companies.
She stated that her recent stint as U.S. Treasurer gave her experience in assisting disadvantaged communities. Most notably, she served as an advisor to U.S. Treasury Secretary Steven Mnuchin, helping with the implementation of the “opportunity zones” program created by the Tax Cuts and Jobs Act of 2017 to encourage investment in economically distressed communities.
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