New Bill Could Rescue National Economy, According to the American Small Business League

A new bill aimed at closing loopholes and ending fraud and abuse in federal small business contracting programs could rescue the economy. The Fairness and Transparency in Contracting Act focuses on ending the diversion of federal small business contracts to large businesses, a problem preventing the creation of upwards of 1.8 million new jobs. Representative Hank Johnson (D-GA-04) is expected to introduce the bill later this year.

The bill targets ambiguous provisions within the Small Business Act of 1953 that have allowed publically traded and foreign-owned firms to qualify as small businesses for the purpose of receiving federal small business contracts.