Four House lawmakers have introduced legislation that would shorten the amount of time small business wait to get paid by federal agencies for work done on contract.
Under the proposed “Accelerated Payments for Small Businesses Act,” small businesses working as prime contractors or subcontractors would get paid within 15 days versus the current standard of 30 days.
Reps. Troy Balderson (R-Ohio), Steve Chabot (R-Ohio), Jason Crow (D-Colorado) and Adriano Espaillat (D-NY) introduced the bill in a move that comes nearly three months after the end of a five-week partial government shutdown that shuttered many civilian agencies.
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