Crow Protects Local and Small Businesses by Introducing Bipartisan Bill for Accelerated Payments to Small Business Contractors

Last week, Representative Jason Crow (CO-06) introduced the Accelerated Payments for Small Businesses Act (H.R. 2322) alongside Representatives Troy Balderson (R-OH), Steve Chabot (R-OH), Chrissy Houlahan (D-PA), and Adriano Espaillat (D-NY). The bill would direct federal government agencies that contract with small businesses to pay those small businesses within 15 days, rather than the current 30-day standard. Crow is a member of the House Small Business Committee and Chairman of the Innovation and Workforce Development Subcommittee.

"Small businesses are the backbone of America's economy and help build strong and vibrant communities," said Congressman Crow. "Many small businesses and their workers rely on a regular bi-weekly paycheck to pay the bills. This commonsense bill will provide the predictability and cash flow that these businesses need to grow and succeed."

Unlike large corporations, small businesses often rely on faster payments in order to engage in new projects, pay their employees, and stay afloat. In 2018, small businesses represented 99.9% of American firms, with 30.2 million small businesses in the United States. In Colorado, small businesses employ 1.1 million people or one-half of the private sector workforce. The state is home to over 610,000 small businesses.