Letter from Vice President Kamala Harris for National ACE

[May 15, 2024]

I am honored to extend my warmest greetings to the attendees of the National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) as you convene for your 2024 AANHPI Heritage Month Business Summit.

For generations, the contributions of Asian Americans, Native Hawaiians, and Pacific Islanders have strengthened our Nation's resilience, well-being, and prosperity. Today, we celebrate National ACE's tremendous work to improve our economy and uplift the voices and achievements of the AA and NHPI business community under the leadership of Chiling Tong.

President Biden and I remain dedicated to advancing justice and creating economic opportunity for all Americans, including those in AA and NHPI communities. We have invested billions of dollars in hundreds of community lenders across the country to support local entrepreneurs and expand access to capital. We are increasing the share of federal contracts awarded to small disadvantaged businesses by 50 percent, which is expected to deliver an additional $100 billion to these businesses by 2025. We are also investing in small businesses in towns across America through nearly $10 billion in new financing through the State Small Business Credit Initiative $2.5 billion of which will support disadvantaged business owners, including AA and NHPI entrepreneurs. Additionally, we awarded over $100 million to small business incubators and accelerators nationwide to help minority and other underserved entrepreneurs launch and grow their businesses.

President Biden and I know that there is still more work to be done. Together, we can continue to lift one another up, strengthen economic security, and make sure all members of AA and NHPI communities have the resources and opportunities they need to thrive. Thank you for working alongside us and continuing to fight for economic opportunity for every American. I send you all my best wishes.