FAIR Vets Act

Key Points

• The FAIR Vets Act helps small businesses owned by veterans with service-related disabilities get more government work. It raises the dollar limits on "sole-source" contracts, which are deals the government can give directly to a business without making them go through a long, open bidding process against many other companies.
• For manufacturing projects, the limit for these direct contracts would increase from $7 million to $10 million. For other types of work, like providing services or supplies, the limit would more than double, jumping from $3 million to $8 million.
• The bill also changes how the government counts the value of a contract. Right now, the limit includes "options" for potential future work. This bill removes those options from the count, which allows veteran-owned businesses to take on larger, multi-year projects without hitting the limit too quickly.
• If this bill becomes law, the government would have 180 days to update its official buying rules. This change is designed to help veteran-owned businesses grow by giving them a better chance to handle bigger federal projects and compete for more significant government spending.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.