Washington, D.C.—Today, Rep. Mike Bost’s Stronger Voice for Small Business Act of 2015 (H.R. 1429) passed in the U.S. House of Representatives by a vote of 270 to 156. The Bost provision saves small businesses from costly and time consuming litigation – allowing them to directly appeal to the Small Business Administration when an inappropriate size standard risks their ability to secure financial assistance and compete for contracts from federal agencies.
“As a small business owner myself, I understand that small businesses are the lifeblood of our economy,” said Rep. Bost. “The SBA’s designation of a business as large or small has a major impact in determining whether they can apply for lending or financial assistance programs or whether they receive preference in the sale of goods and services to the federal government. In order to grow jobs and hire more workers, small businesses must have certainty and a clearer definition of the guidelines used to determine their size and status.”
Rep. Bost’s bill was rolled into the final version of the National Defense Authorization Act negotiated by House and Senate leaders.