[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 667 Introduced in House (IH)]
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118th CONGRESS
1st Session
H. RES. 667
Expressing support for the designation of August as National Black
Business Month and to honor the contributions of Black-owned businesses
across the United States.
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IN THE HOUSE OF REPRESENTATIVES
August 29, 2023
Ms. Crockett (for herself, Ms. Norton, Mr. Thompson of Mississippi, Mr.
Carson, Mr. Mullin, Mrs. Watson Coleman, Mr. Landsman, Mr. Thanedar,
Mr. McGarvey, Ms. Sewell, Ms. Lee of California, Mr. Green of Texas,
Mr. Jackson of Illinois, Ms. Brown, Mr. Payne, Ms. Pressley, Ms.
Plaskett, Ms. Williams of Georgia, Ms. McClellan, Ms. Kamlager-Dove,
and Mr. Mfume) submitted the following resolution; which was referred
to the Committee on Energy and Commerce
_______________________________________________________________________
RESOLUTION
Expressing support for the designation of August as National Black
Business Month and to honor the contributions of Black-owned businesses
across the United States.
Whereas businesses serve as one of the main drivers of the United States economy
and are crucial to the overall success of the country;
Whereas Black-owned businesses have played an instrumental role in advancing
African-Americans' status and promoting Black culture throughout
history;
Whereas African Americans founded and developed the Greenwood District of Tulsa,
Oklahoma, also known as ``Black Wall Street'', in the early 1900s to
direct revenue into their own community to ensure economic stability due
to racial discrimination at that time;
Whereas Black Wall Street was considered one of the wealthiest Black communities
in the United States with Black-owned businesses such as barber shops
and salons, clothing stores, jewelers, restaurants, theaters, grocery
stores, and medical legal offices, until the Tulsa Race Massacre of
1921;
Whereas, in the 1930s to 1960s, The Negro Motorist Green Book was distributed
across the United States that highlighted, among other things, Black-
owned businesses in order to enable Black travelers to find lodgings,
businesses, and gas stations amidst segregation;
Whereas recent significant strides have been made regarding the growth of Black-
owned businesses in the United States;
Whereas, in 1971, Johnson Products Company, which sold hair care and cosmetic
products for Black consumers, became the first Black-owned company to
trade on the American Stock Exchange;
Whereas, in 1991, the Black Entertainment Television, or ``BET'', became the
first Black-owned company to be traded on the New York Stock Exchange;
Whereas the largest industry areas for Black-owned businesses are in the areas
of health care, social assistance, retail trade, transportation,
warehousing, accommodations, and food services;
Whereas, from 2017 to 2020, the number of Black-owned businesses across the
country increased by over 13 percent, an amount larger than overall
businesses growth, which increased by less than 1 percent over the same
period;
Whereas, in 2020, Black business owners employed 1.321 million people, and
created 48,549 new jobs, adding an additional $1.7 billion in aggregate
payroll to the United States economy;
Whereas roughly 38 percent of all Black-owned businesses were woman-owned in
2020;
Whereas Black-women-owned businesses represent the fastest growing group of
entrepreneurs to come out of the pandemic;
Whereas roughly 67 percent of Black-women-owned businesses are the owner's
primary source of income;
Whereas, in May 2023, roughly 3,455,000 businesses were Black-owned
(representing approximately 12.7 percent of the total businesses), with
receipts of $83.6 billion;
Whereas today there are hundreds of Black Chambers of Commerce established
across cities in the United States;
Whereas, despite the growth and impact of Black-owned businesses on the United
States economy, Black business owners and entrepreneurs continue to face
substantial barriers, such as financing and access to capital, that
limit their ability to expand their businesses and leverage new
entrepreneurial opportunities;
Whereas Black-owned businesses are more likely to be denied loans and are more
likely to pay higher interest rates than non-minority businesses;
Whereas Black-owned businesses are historically smaller in size and scale to
their non-minority business counterparts;
Whereas industries and associations have recently put forth renewed efforts
advocating for consumers to invest in, and buy from, Black-owned
businesses over the last 3 years; and
Whereas Congress permanently established the Minority Business Development
Agency within the Department of Commerce as a part of the Bipartisan
Infrastructure Investment and Jobs Act of 2021 to promote the growth and
competitiveness of minority-owned businesses: Now, therefore, be it
Resolved, That the House of Representatives--
(1) celebrates the work of Black-owned businesses and their
employees for their achievements and advancements within the
community;
(2) recognizes that Black-owned businesses continue to face
significant barriers and challenges to forming, growing, and
expanding within the economy, both at home and abroad;
(3) acknowledges that Congress must work with business and
industry leaders, and also when appropriate, executive branch
agencies, to help expand entry for Black-owned businesses into
the market; and
(4) supports the designation of ``National Black Business
Month''.
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