Biden-⁠Harris Administration Advances Equity And Economic Opportunity Through Federal Procurement And State And Local Infrastructure Contracting

Administration Announces Record Contract Spending on Small Disadvantaged Businesses and New Steps to Create Contracting Opportunities for Disadvantaged Businesses through the Bipartisan Infrastructure Law 

The Federal Government is the largest consumer of goods and services in the world, spending roughly $600 billion each year. Thanks to President Biden’s Bipartisan Infrastructure Law , states, territories, Tribes, cities, and local authorities will spend hundreds of billions of dollars to rebuild our communities in the coming years. The Biden-Harris Administration is committed to ensuring that federal investments build wealth and opportunity for underserved entrepreneurs and small business owners. On the centennial of the Tulsa Race Massacre, President Biden announced a number of steps to narrow the racial wealth gap, including setting a goal of increasing the share of federal contracts going to small disadvantaged businesses (SDBs) to 15 percent by 2025 – a 50 percent increase from most recent spending levels.

Just over one year later, new data shows that the Biden-Harris Administration is delivering. The U.S. Small Business Administration’s (SBA) annual Small Business Procurement Scorecard for Fiscal Year 2021 shows a record level of Federal contracting dollars awarded SDBs, a category under federal law for which economically disadvantaged Black-owned, Hispanic-owned, and other minority-owned businesses can compete for federal contracting opportunities.  In addition to advancing more equitable federal procurement, today the Administration is announcing new steps to expand contracting opportunities for historically disadvantaged businesses, including those owned by women and people of color, under Federal grants created through the Bipartisan Infrastructure Law.

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