Here is the section of the bailout bill we have serious concerns with. Essentially it will give the Secretary of Treasury the ability to suspend the Federal Acquisition Regulations (FAR) which governs federal contracting therefore allowing the potential to push small businesses out of federal contracting programs all together.
Below is section 107 of the Emergency Economic Stabilization Act of 2008
SEC. 107. CONTRACTING PROCEDURES.
(a) STREAMLINED PROCESS.-For purposes of this Act, the Secretary may waive specific provisions of the Federal Acquisition Regulation upon a determination that urgent and compelling circumstances make compliance with such provisions contrary to the public interest. Any such determination, and the justification for such determination, shall be submitted to the Committees on Oversight and Government Reform and Financial Services of the House of Representatives and the Committees on Homeland Security and Governmental Affairs and Banking, Housing, and Urban Affairs of the Senate within 7 - 20 days.
(b) ADDITIONAL CONTRACTING REQUIREMENTS.-In any solicitation or contract where the Secretary has, pursuant to subsection (a), waived any provision of the Federal Acquisition Regulation pertaining to minority contracting, the Secretary shall develop and implement standards and procedures to ensure, to the maximum extent practicable, the inclusion and utilization of minorities (as such term is defined in section 1204(c) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1811 note)) and women, and minority and women-owned businesses (as such terms are defined in section 21A(r) (4) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(r)(4)), in that solicitation or contract, including contracts to asset managers, servicers, property managers, and other service providers or expert consultants.
(c) ELIGIBILITY OF FDIC.-Notwithstanding subsections (a) and (b), the Corporation-(1) shall be eligible for, and shall be considered in, the selection of asset managers for residential mortgage loans and residential mortgage-backed securities; and (2) shall be reimbursed by the Secretary for any services provided.
Contact me to book an interview with our President Lloyd Chapman to discuss this bill and how it will significantly harm our small businesses.
Very Best, Sonia
Sonia Meyer | Public Relations Specialist American Small Business League 707.789.9575w | 707.789.9580f soniam at asbl.com | www.asbl.com