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May 22, 2013 By AMK

GSA owes more than $3 million to small businesses

The General Services Administration has failed to fully pay 1,334 federal contractors, shorting them by more than $3 million since 2008, according to a House committee report released Thursday.

The amount may not be large, but lawmakers on the Republican-led House Small Business Committee emphasized the importance of such companies.

“Contracting with small businesses is good for the economy and it’s good for the taxpayer because small companies bring cost-savings to the federal government,” Sam Graves (R-Mo.), the committee chairman, said in a statement. “But when federal agencies don’t live up to their end of the bargain, small businesses are discouraged from competing and taxpayers lose the benefits of government efficiency.”

The agency did not fulfill a “guaranteed minimum payment” clause outlined in many of its contracts, the report said.

Keep reading this article at: http://www.washingtonpost.com/business/on-small-business/exclusive-gsa-failed-to-pay-thousands-of-small-government-contractors-since-2008/2013/05/15/305c4422-bd93-11e2-9b09-1638acc3942e_story.html 

Filed Under: Government Contracting News Tagged With: GSA, GSA Schedules, guaranteed minimum, MAS, multiple award, Schedules, small business

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