today I join Senator Bond, Senator Kerry, and others in support of a Senate resolution urging the President to adopt a policy to ensure that the 5-percent Federal procurement goal for women-owned small businesses is met. In 1994, Congress enacted the Federal Acquisition Streamlining Act, establishing a Government-wide goal for small businesses owned and controlled by women. This act allows for no less than five percent of the total dollar value of all prime contracts and subcontract awards for each year. Over the past few years, we have witnessed the growth of women-owned businesses, including federal contracts. Over the past ten we've seen thousands of women entrepreneurs start or expand their own businesses. It is important we realize that women-owned businesses are the fastest growing segment of the business community in the United States. In fact, in the next ten years, it is expected that women-owned businesses will make up more than one-half of all businesses in the United States. This week has been designated as Small Business Week, therefore it is only fitting that the Senate should pass this resolution to symbolize the Senate's concern that the Federal departments and agencies have not made adequate effort in meeting the five percent goal established in 1994 as part of the Federal Acquisition Streamlining Act. I fully support this Senate resolution and urge Federal agencies to make a concerted effort to meet this 5-percent goal.
Editor's note · Context
Addressing the Senate on the importance of meeting the Federal procurement goal for women-owned small businesses.
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