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New York Congresswoman Backs Bill to Bring Billions in Contracts to State, According to the American Small Business League

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New York Congresswoman Backs Bill to Bring Billions in Contracts to State, According to the American Small Business League Powered By Docstoc
					New York Congresswoman Backs Bill to Bring
Billions in Contracts to State, According to the
American Small Business League
November 08, 2010 07:53 AM Eastern Time  

PETALUMA, Calif.--(EON: Enhanced Online News)--The following is a statement by the American Small
Business League:

New York Congresswoman Carolyn Maloney (D – 14) has offered her support for legislation that would infuse the
state’s business community with billions of dollars in existing government infrastructure spending, save thousands of
small businesses and create countless jobs.

H.R. 2568, the Fairness and Transparency in Contracting Act would end widespread fraud and abuse in federal
small business contracting programs, while ensuring that the federal government meets its 23 percent small business
contracting goal. The federal government has a congressionally mandated goal of awarding 23 percent of the total
value of all prime contracts to small businesses.

“I admire the American Small Business League’s efforts to make sure that small businesses get their fair share of
federal contracts. Since small firms are the engine of our economy, this mission could not be more timely or more
necessary,” Representative Maloney said. “I look forward to working with the American Small Business League and
my friend and colleague Congressman Johnson to make sure that the Fairness and Transparency in Contracting Act
becomes law.” 

Since 2003, over a dozen federal investigations have shown that billions of dollars in federal small business contracts
have been diverted to corporate giants. In Report 5-15, the Small Business Administration Office of Inspector
General (SBA IG) referred to the problem as, "One of the most important challenges facing the SBA and the entire
Federal government today." (http://www.sba.gov/IG/05-15.pdf)

H.R. 2568 will stop large businesses from taking federal small business contracts by perfecting the Small Business
Act's definition of a small business as "independently owned." The bill would prevent the federal government from
awarding small business contracts to publicly traded firms, because they are publicly owned and would not qualify as
"independently owned."

According to the U.S. Census Bureau, small businesses are responsible for more than 90 percent of all net new jobs,
50.2 percent of the non-farm private sector workforce, 50 percent of the gross domestic product (GDP) and 90
percent of exports and innovations. (http://www.sba.gov/advo/research/rs359.pdf)

The American Small Business League has estimated that if passed H.R. 2568 would redirect more than $100 billion
a year in federal spending to the nation’s 27 million small businesses.

Contacts
American Small Business League
Christopher Gunn, 707-789-9575
Communications Director
cgunn@asbl.com

Permalink: http://eon.businesswire.com/news/eon/20101108005585/en/small-business/american-small-business-
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