Senate small business committee reports out four bills

The U.S. Senate Committee on Small Business and Entrepreneurship introduced four bills that deal with various issues, including improvements to the State Trade Expansion Program (STEP) and enhanced access to federal contracting opportunities for small businesses.

One of the bill’s reported out of committee include the STEP Modernization Act of 2024, which updates STEP by streamlining the application, reporting and compliance requirements, improving award consistency and transparency. It would also establish a formula that will replace the current competitive process for determining award amounts once appropriations reach a set level.

“Through today’s legislation, we’re helping to make STEP more flexible and easier to administer in order to increase the number of small businesses that access and compete in international markets,” Sen. Jeanne Shaheen, chair of the committee and the bill’s sponsor, said. “When I created STEP in 2010, I sought to help small businesses offset the cost of training, market research, website upgrades and trade missions to begin or expand sales internationally. By modernizing STEP, it will now be simpler for small businesses to access these resources. I look forward to continuing to work together as we consider additional, bipartisan legislation that strengthens the economy and our local communities.”

The other bills reported out include:

The Subcontracting Simplification Act (S. 3772), which would require prime contractors to communicate subcontract opportunities to small businesses in a clear, concise and accessible manner.

The Small Business Contracting Transparency Act (S. 3971), which would require SBA to provide an annual report to the Senate and House Small Business Committees on certification activities and contract awards within the Women-Owned Small Business (WOSB), Historically Underutilized Business Zone (HUBZone) and Service-Disabled Veteran-Owned Small Business (SDVOSB) programs.

The Plain Language in Contracting Act (H.R. 7987), which makes federal contracting opportunities more accessible to small businesses by requiring notices to be written in clear and accessible language.

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