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New Bill Expected to Improve Job Growth, Small Business Contracts

Published on Jun 30, 2011

Summary

Read 'New Bill Expected to Improve Job Growth, Small Business Contracts' at 'Time to Start Up,' the small business blog by BizFilings.
The American Small Business League is expressing enthusiasm over a new bill which they claim could rescue the national economy. The Fairness and Transparency in Contracting Act will close a loophole, which existed in the Small Business Act of 1953, that allowed big businesses to claim federal contracts meant for small businesses. The bill is expected to create as many as 1.8 million new jobs and will be introduced later this year. "The Fairness and Transparency in Contracting Act is the most efficient, effective solution to job creation that has ever been proposed," said Lloyd Chapman, ASBL president. "It requires no new spending, no new taxes, and it is deficit neutral. Just take existing federal infrastructure spending, and direct it to the nation's chief job creators — its small businesses." This isn't the only good news small businesses have received lately. The U.S. Small Business Administration recently released data showing the federal government awarded almost $100 billion in federal contracts to small businesses in 2010, which is an increase for the second straight year, and was accomplished before the Fairness and Transparency in Contracting Act has even been implemented.