U.S. SENATE — U.S. Senator Martha McSally (R-AZ) introduced two bills to lift a major financial burden off of small businesses who contract with the federal government.
In 2018, small businesses represented 99.9 percent of all United States firms and more than 99.4 percent of all Arizona firms. Arizona has over 550,000 small businesses and one million small business employees.
“With small businesses comprising over 99 percent of our country’s businesses, our economy depends on their success,” McSally said. “When Arizona small business owners told me they were being forced to shoulder the cost of federal work for up to a month, I knew Congress had to act. Small businesses rely on quick, reliable payments so they can in turn pay their staff and fund new ventures. My bill speeds up payment processing times so that small businesses can continue to serve as the backbone of our economy.”
The Accelerated Payments for Small Business Act would require federal agencies contracting with small businesses to pay those businesses within 15 days, instead of the current 30-day standard.
The Small Business Payment for Performance Act would require federal agencies to make a partial payment of at least 50 percent to contractors when the project requires adjustments that differ from the original scope of work.