Mid-tier firms now bidding for set-asides

      Amidst confusion over implementation of the Small Business Runway Extension Act, some mid-tier firms have already taken advantage of the new law to reclassify their size and are now bidding on small business set-asides, according to testimony at a recent House subcommittee hearing on the new law.

      The runway extension act, which became law on Dec. 17, 2018, amended the Small Business Act to allow service-based federal contractors to determine whether they meet size standards as small businesses based on average gross receipts for five years. Previously, the calculation was based on three years.

      However, Congress did not specify an implementation date for the law and as a result contractors have been uncertain whether it went into effect on Dec. 17, the day it was signed by President Trump.

      Small Business Administration officials have asserted that there must be a rulemaking before the law goes into effect...more....