Lafayette Reporter

Sen. John Kennedy from Louisiana and Sen. Chris Coons from Connecticut have introduced the bipartisan Small Business Contracting Transparency Act to assist small businesses in winning contracts with federal agencies. According to Kennedy, "Louisiana’s small businesses are the backbone of our economy, and they deserve a fair shot at working with the federal government." He emphasized the importance of the act in providing job creators with opportunities.

Coons also expressed his support for the bill, stating, "When small businesses are able to fulfill federal contracts, everyone wins." He highlighted the significance of the legislation in ensuring that federal contracts are awarded to women, veterans, and underserved communities. Coons emphasized that the bill aims to increase oversight of programs that benefit entrepreneurs and small businesses.

The bill addresses the challenges faced by small businesses participating in SBA programs such as the Women-Owned Small Business program, the Historically Underutilized Business Zone initiative, and the Service-Disabled Veteran Owned Small Business program. Despite the agencies' obligations to award a certain percentage of contracts to participants in these programs, the government has only met these goals twice since 2000.

Under the Small Business Contracting Transparency Act, the SBA would be required to submit reports on various aspects, including the number of small businesses certified in each program, the dollar amount and percentage of federal contracts awarded to qualifying small businesses, and the number of ineligible businesses mistakenly awarded contracts.

The full text of the Small Business Contracting Transparency Act can be accessed for further information and details on the provisions of the bill.