Democrats led by Congresswoman Nydia Velazquez are strongly supporting a bill that could negatively affect small businesses. The bill would result in small businesses competing with large venture capitalists. For more information on the proposed bill, watch the SmallBusinessNewz video.
Democrats Push Bill That Would Hurt Small Businesses
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[...] SmallBusinessNewz is reporting that Congresswoman Nydia Velazquez is pushing hard to get an amendment to the Small Business Act pushed through. This amendment would redefine what a “Small Business” is, and allow large businesses owned up to 49% by Venture Capital Firms to get funding from the Small Business Administration. This means that legitimately small business firms will miss out. And this time it’s the Dems pushing for the giveaway. SmallBusinessNewz speculates that the giveaway is a “thank you” to the VCs who have been supporting Dems. [...]
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Here is another example of politicians paying back their contributors on the backs to their constituents.
This bill is a sham!
A business owned 49.9% by venture capitalists is NOT a small business.
If this goes through companies such as Facebook, when they received their millions in venture capital, could be considered a small business.
Congresswoman Velazquez is just another beholden corporate politician who publicly states that small businesses are the backbone of our economy and privately works to dismantle them.