U.S. House Committee on Small Business unanimously passed bill out of Committee today.
Washington, DC – Congressmen Kweisi Mfume (D-MD) and Pete Stauber (R-MN) introduced H.R. 7694 - the “Strengthening Small Business Subcontracting Act,” which was unanimously passed and reported out of the U.S. House Committee on Small Business today. This bipartisan legislation revises the language of the Small Business Act to reward prime contractors who have a better history of working with small businesses and abiding by their subcontracting plans submitted to federal agencies when bidding on contracts. This legislation shields small businesses in the contracting space and incentivizes larger federal contractors to honor their commitments to small business subcontractors by making past performance on subcontracting plans a factor in whether a company is awarded future work.
“As Vice-Chair of the Committee on Small Business, I am proud to co-lead this bipartisan effort on behalf of small businesses in Maryland’s 7th Congressional District. This legislation will encourage more small businesses to safely enter the federal contracting arena. Moreover, small businesses will be provided more opportunities to go after federal contracts and be justly rewarded for their work,” said Congressman Mfume. “Thank you, Congressman Stauber, for working with me to move this crucial legislation forward. I look forward to voting this bill out of the House and sending it to the U.S. Senate,” he added.
“With each passing year, it’s getting more and more difficult for small businesses to compete for federal contracts. Small businesses are the engine of our economy. In Congress it’s our duty to not only support small businesses, but also to ensure that they have a chance to participate in federal projects. At a time when small businesses are struggling with inflation, a supply chain crisis, and a labor shortage, this legislation will provide them an opportunity for success. Thank you Congressman Mfume for working with me on this critical legislation to support small businesses,” said Congressman Pete Stauber.
The “Strengthening Small Business Subcontracting Act” will proceed to the full U.S. House of Representatives for consideration this summer.
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