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US debt default could delay or halt payments for contractors
SBA IG warns of ineligible self-cert SDB awardee risk;
Also, FY2020 rule disallowed protests of disadvantaged
Government contracting attorneys and analysts are warning of likely late or canceled payments to federal contractors and possibly other major disruptions to federal programs in the coming months if the U.S. defaults on its debt.
The potentially negative impacts on contractors would be compounded by very harsh effects on the U.S. and global economy, according to many U.S. economists and policy makers.
The US government reached the limit of what it could borrow on Jan. 19, 2023. Since then, it has been funded by “extraordinary” measures that will run dry on or around June 1, US Treasury Secretary Janet Yellen said.
Congress determines government spending, and for many decades lawmakers raised the debt limit to cover funds already spent. Not so this year:...more....
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Inside this edition:
While 8(a) set-asides slump, are riskier SDB awards soaring?
Judge pauses Polaris GWAC
SBA’s six new vet biz centers
CIO-SP3 for 6 more months
Debt default starts June 1
Wide-ranging Govcon rule
FAA awards to small biz’s
GSA’s FAS Web catalog
Column: In-Person GovCon Industry Meetings Are Back!
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DOD’s long-distance construction contractors
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Cardin retiring
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SBA lending update
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