Edolphus Towns: “Mr. Speaker, H.R. 3033, the Contractors and Federal Spending Accountability Act of 2008, will help give Federal…”

“Mr. Speaker, H.R. 3033, the Contractors and Federal Spending Accountability Act of 2008, will help give Federal contracting officials the information they need to award contracts to most deserving companies. The Federal Government must spend taxpayer dollars as efficiently and responsibly as possible, and it is our job to make sure that happens. This bill will help Federal officials to decide whether or not a company bidding for a contract is responsible enough to get it. H.R. 3033 mandates the creation of a database that will record legal proceedings brought by the Federal Government and State governments against contractors. It will also record suspensions and debarments, whether previous contracts have been terminated for cause, and any previous finding by contracting officials that a company does not have a satisfactory record of integrity and business ethics.”