February 08, 2022

Neguse-Salazar Bill to Help Small Businesses Access Federal Contracts Overwhelmingly Passes House

Washington D.C.— Last night, Congressman Joe Neguse and Congresswoman Maria Elvira Salazar’s bipartisan, bicameral legislation to expand partnership opportunities between small businesses and the federal government passed the House of Representatives. The Promoting Rigorous and Innovative Cost Efficiencies for Federal Procurement and Acquisitions (PRICE) Act will modernize federal contracting procedures and ensure Colorado’s small businesses have an equal opportunity to participate in federal contracting. 

“Expanding access to federal contracting is good for our District, our local economies, and our small business owners who have faced immense hardship in the wake of the COVID-19 pandemic,” said Congressman Joe Neguse. “Too often, small businesses - especially in traditionally underserved communities, including rural communities - can’t access or are unable to take advantage of federal contracting opportunities, leaving many of them behind. Our bipartisan bill will eliminate this divide by incentivizing more federal contracts with small businesses, which will empower them to hire more workers and continue to give back to their communities. I’m thrilled to see the House pass our bipartisan legislation, and I look forward to continued work to get this bill over the finish line.”

“As the Ranking Member of the Small Business Subcommittee on Contracting and Infrastructure, it is one of my major goals to secure more government contracts for small contractors in Miami and all across America,” said Congresswoman Maria Elvira Salazar. “The passage of this bill will mean increased opportunities and less frustration for small business owners everywhere.” 

The PRICE Act is sponsored by Senators Gary Peters (D-MI) and Joni Ernst (R-IA) in the Senate. Specifically, 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 2020. 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 legislation to expand the research and development tax credit 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.