WASHINGTON – Sen. John Kennedy (R-Louisiana), a member of the Senate Small Business Committee, today joined Sen. Chris Coons (D-Conn.) to launch a super Introduced the partisan Small Business Contract Transparency Act. The Small Business Administration (SBA) program awards contracts to federal agencies.
“Louisiana’s small businesses are the backbone of our economy and should be on a level playing field by working with the federal government. The Small Business Contract Transparency Act would require the SBA to inform the public about the content of small business contracts. We plan to make this mandatory. GrantTo enable job creators to take advantage of every opportunity that opens up. ” said Kennedy.
“When small businesses can honor their federal contracts, everyone wins. This common-sense, bipartisan legislation will ensure that the federal government awards federal contracts to women, veterans, and the underserved.” This bill strengthens oversight of programs that provide valuable opportunities to hard-working but underrepresented entrepreneurs and small businesses that are the bedrock of our state's economy. I will.” said Koons.
Federal agencies provide certain bonuses to participants in certain SBA programs, including the Women-Owned Small Business Program (WOSB), the Historically Underutilized Business Zone (HUBZone) Initiative, and the Service-Disabled Veteran-Owned Small Business (SDVOSB) Program. It is supposed to be given. Prize percentage. But since 2000, he's the only time the agency has met the target twice.
The Small Business Contract Transparency Act requires the SBA to submit reports on:
- Number of small businesses certified to participate in the WOSB Program, HUBZone Program, and SDVOSB Program.
- The total amount and percentage of federal contracts awarded by the agency to small businesses eligible for each SBA program.
- The number of ineligible businesses that agents incorrectly contracted with in each SBA program.
The full text of the Small Business Contract Transparency Act can be found here.
