Federal Acquisition Improvement and Reform Vets Act; FAIR Vets Act
Summary
The FAIR Vets Act aims to amend the Small Business Act, specifically targeting sole-source thresholds for service-disabled veteran-owned small businesses. It seeks to increase the thresholds for sole-source contracts, potentially making it easier for these businesses to secure government contracts without competitive bidding. The bill also mandates the Federal Acquisition Regulatory Council and the Secretary of Defense to update relevant regulations within 180 days of enactment.
Expected Effects
The likely effect is an increase in the number and value of sole-source contracts awarded to service-disabled veteran-owned small businesses. This could streamline the acquisition process for certain contracts. It may also lead to increased opportunities for veteran-owned businesses to participate in federal contracting.
Potential Benefits
- Increased opportunities for service-disabled veteran-owned small businesses.
- Streamlined acquisition process for certain contracts.
- Potential for faster project completion due to reduced bidding processes.
- Supports the economic well-being of veterans.
- May encourage more veterans to start small businesses.
Potential Disadvantages
- Reduced competition could lead to higher contract costs.
- Potential for less scrutiny and oversight in the contracting process.
- May disadvantage other small businesses that are not veteran-owned.
- Risk of fraud or abuse due to the sole-source nature of the contracts.
- Could create a perception of unfair advantage for veteran-owned businesses.
Constitutional Alignment
The bill aligns with the general welfare clause of the Constitution, as it aims to support veterans who have served the country. Article I, Section 8 grants Congress the power to make laws necessary and proper for carrying out its enumerated powers, which can be interpreted to include supporting veterans through preferential contracting policies. There are no apparent conflicts with specific constitutional provisions.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).