Senator Tom Udall (D-NM) teamed with Congresswoman Suzanne Bonamici (D-OR 1st District) to introduce the Assuring Contracting Equity (ACE) Act, which, if passed, would raise the Small Business Administration’s government-wide small business contracting goals. Specifically, the ACE Act would raise the overall small business contracting goal from 23% of federal contract revenue to 25% and double the minimum percentage targets for women-owned small businesses and businesses owned by economically disadvantaged minorities.
According to the authors, the ACE Act would redirect up to $10 billion of federal contract revenue to small businesses. The ACE Act was introduced shortly after the chairman for the House of Representatives’ Small Business Committee chastised the Small Business Administration for overstating the percentages of federal contract revenue awarded to qualifying small businesses in FY 2014. The matching bills were directed to the respective small business committees for consideration.
A copy of the ACE Act is available here.