Kathy Castor: “the Small Business Contracting Improvements Act and this rule will open up greater opportunities to small business…”

“the Small Business Contracting Improvements Act and this rule will open up greater opportunities to small business owners across this Nation. Small businesses are the backbone of our local communities. In my hometown of Tampa, Florida, more of my neighbors and folks I represent work for small businesses than any other type of business--and we value what they do because it gives our community character and diversity. I want to thank Congresswoman Velazquez for bringing this legislation to the House floor today. In America, small businesses account for 50 percent of our gross domestic product. Last year, the federal government spent over $400 billion on goods and services and only about 20 percent went to small businesses--approximately $80 billion in contracts. Our actions today will assist these talented small businesses obtain a better, fair share of federal government contracts. The Small Business Contracting Improvements Act also strengthens and modernizes contracts for small businesses and sets standards to protect the integrity and consistency. Despite a 50-year-old mandate, small businesses owned by disabled veterans, female entrepreneurs, and minorities have not received a fair share of federal contracts.”