December 01, 2021

Neguse Introduces Bicameral Legislation to Help Small Businesses Access Federal Contract Opportunities

Legislation would spur economic growth and forge new partnerships between small businesses and the federal government

Washington D.C.— Today, Congressman Joe Neguse unveiled a bicameral measure to modernize federal contracting procedures and expand partnership opportunities between small businesses and the federal government.

“Small businesses are at the heart of the Second District, and many have faced immense hardship in the wake of the COVID-19 pandemic,” said Congressman Joe Neguse. “Far too often, federal contracts are out of reach for small business owners, leaving many of them behind as they seek new opportunities to grow their business. By incentivizing creative partnerships between small businesses and the federal government, we empower our main street economies and help them get back on their feet.”

“Small businesses are the backbone of our economy and they should be given a fair shot in the federal contracting process. This important legislation, which has already passed the Senate, will help ensure that no business owner in Michigan or across the country faces hurdles when trying to compete for federal contracts,” said Senator Peters, Chairman of the Senate Homeland Security and Governmental Affairs Committee. “I’m grateful to Congressman Neguse for introducing this bill in the House and look forward to its passage into law as soon as possible.”

The Promoting Rigorous and Innovative Cost Efficiencies for Federal Procurement and Acquisitions (PRICE) Act is the companion to the bipartisan Senate legislation introduced earlier this year by Senators Gary Peters (D-MI) and Joni Ernst (R-IA). The PRICE Act encourages federal agencies to use the Small Business Administration’s contracting programs by directing the Office of Management and Budget to develop innovative contract procedures, in conjunction with federal acquisition administrators. As a result, the Act realizes cost savings for taxpayers and gives small business owners a seat at the negotiating table with the federal government.

Small business owners face many obstacles in accessing federal contracting opportunities, a problem that is particularly acute for women-owned, veteran-owned, minority-owned, and disadvantaged small businesses. The PRICE Act ensures that small businesses have equal opportunity in the acquisition process by modernizing the process and encouraging government agencies to partner with small businesses, thus boosting their participation in federal contracting.

The PRICE Act is supported by a broad coalition of groups including Small Business Majority, Association of Procurement Technical Assistance Centers (APTAC), GovEvolve, HUBZone Contractors National Council, and the Women Veterans Business Coalition.

Read bill text HERE.

Background:

Congressman Neguse has introduced multiple bills to expand opportunities for small businesses and help them weather the economic impacts of the COVID-19 pandemic. His EIDL Forgiveness Act, which calls for the exclusion of Economic Injury Disaster Loan (EIDL) Advance grants when determining forgiveness for a Paycheck Protection Program (PPP) loan, was incorporated into the bipartisan, bicameral COVID-19 relief package passed in December. The legislation clarifies that businesses that received both a PPP loan and an EIDL Advance grant can still receive full PPP loan forgiveness, regardless of benefitting from each program. As Co-Chair of the Congressional Caucus on Innovation and Entrepreneurship, Congressman Neguse is also leading bipartisan legislation to expand federal contract opportunities for small businesses, and recently incorporated a measure in the House-passed NDAA to expand diversity in apprenticeships. Following the Cameron Peak and East Troublesome Fires, Congressman Neguse helped secure a disaster declaration to bring in Small Business Administration relief to support businesses impacted by the fires.