1、CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i The Minority Business Development Agency Established in Statute December 1, 2021 Congress has considered an increasing number of policies designed to promote individual economic mobility as well as broader national economi
2、c growth. They include several proposals to reduce inequities and advance minority entrepreneurship, innovation, and business expansion activities. Such policies have included efforts to expand the Department of Commerces Minority Business Development Agency (MBDA) programs and establish the agency
3、in statute. The agency was originally established by Executive Order under President Nixon over 52 years ago. On November 15, 2021, the Minority Business Development Act of 2021 (Division K of P.L. 117-58) authorized the MBDA in statute. The act codified select existing programs, added new programs
4、and roles, and expanded the scope and scale of the MDBAs services. This Insight highlights the agencys expanded roles and new programs, and identifies some considerations for Congress. MBDA Overview The MBDA is the lead federal agency supporting the minority business communitys growth and global com
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