Congresswoman Nikema Williams (D-Ga.) is taking another shot at closing the racial wealth gap. If passed, her new bill would establish a federal grant program for entrepreneurship initiatives at HBCUs and other institutions that serve predominantly minority students. The bill she has introduced even has the support of a Republican among its four co-sponsors.
Williams’ bill, the Minority Entrepreneurship Grant Program Act of 2023, is certain to face opposition among Republicans not named Brian Fitzpatrick (R-Pa.). He is a co-sponsor along with Democratic Reps. Alma Adams of North Carolina, Dwight Evans of Pennsylvania and Norma Torres of California.
Williams proposed similar legislation that didn’t garner much support even in a Democratic-controlled Congress in December 2022. She wants to make it possible for schools that are part of the Minority Students Institution program to apply for grants of up to $250,000 for resources that benefit student entrepreneurs.
“Too often, Black and Brown entrepreneurs face enormous barriers to accessing the capital needed to launch and sustain businesses,” Williams said. “The Minority Entrepreneurship Grant Program will help to break down those barriers and ensure that the next generation of minority business owners have a fair shot at the promise of America. Investing in minority-owned businesses is also one path on the journey to close the racial wealth gap. I am proud to advance legislation to continue creating equity in entrepreneurship opportunity for everyone–no matter your ZIP code, no matter your bank account.”
Fitzpatrick echoed some of Williams’ sentiments.
“Small businesses are the backbone of our economy and allow communities to flourish,” he said. “The bipartisan Minority Entrepreneurship Grant Program Act will empower minority innovators and entrepreneurs to start their own small businesses and I’m proud to join my colleagues on this legislation.”
