WASHINGTON – The U.S. Senate Committee on Small Business and Entrepreneurship today unanimously passed S.2989, The Small Business Contracting Revitalization Act of 2010. This bill will modernize and strengthen the Small Business Administration’s government contracting programs to help increase small business sales and create American jobs.

“Granting small businesses government contracts is one of the easiest, most inexpensive, and most immediate ways we can help increase sales for small businesses and boost job creation on Main Street,” Sen. Landrieu said. “When large businesses get government contracts they can potentially absorb that new work into their workforce. When small businesses get government work they must staff up to meet the increased demand – and that is exactly what we need to put Americans back to work. By updating vital small business contracting programs, this bill ensures that more contracts will go to small businesses to create jobs.”

“With 2.6 million jobs having disappeared over the past year, Americans are fighting tooth and nail just to keep their businesses alive,” said Senator Snowe. “It is all-the-more paramount that these firms have the opportunity to contract with Federal Agencies, because the Federal government is the largest buyer of goods and services in the world, spending over $500 billion in Fiscal Year 2009 alone. The bill our Committee approved today will help the federal government satisfy – and exceed – its small business contracting goals and enable small firms to fairly compete for Federal contracts, which, in turn, will help stimulate both economic development and job creation.”

The Small Business Contracting Revitalization Act of 2010 will:

  • Require agencies to consider small businesses when placing orders on large contracts;
  • Close many loopholes that give big businesses an unfair advantage;
  • Add protections for small firms and sub-contractors;
  • Reduce bundled contracts by reserving more contracts for small business concerns; and
  • Shine light on which agencies bundle and why.

To read Senator Landrieu’s opening statement, please click here.

To read Senator Snowe’s opening statement, please click here.