In an effort to expand diversity, U.S. Sen. Robert MenendezD-N.J., released his report about corporateAmerica's diversity.

"We all deserve a seat at the table," wrote Menendez, chair of the Senate Democratic Hispanic Task Force.

"The fair representation of women and minorities in corporate board rooms, C-suites, and in procurement practices is both the right thing to do and good for business," Menendez added. "With the purchasing power of Latino and Black consumers each exceeding an estimated $1 trillion, racial and ethnic minorities are now more relevant than ever in driving economic growth across all industries."

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