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Streamlining Federal Procurement and Supporting Small Businesses

This law aims to improve how the federal government buys goods and services by promoting innovation and efficiency. It focuses on increasing the participation of small businesses in public contracts, which can create more business opportunities and jobs. This means citizens can expect better use of taxpayer money and support for the local economy.
Key points
Supports small businesses: The act encourages federal agencies to use small businesses more often, which can help them grow and create new jobs.
Better spending: It promotes innovative purchasing methods, leading to savings and more efficient use of public funds.
Increased transparency: Requires reports on innovative procurement projects, increasing public oversight of government spending.
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99%
VOTING RESULTS
2022-02-08
For 426
Against 5
Abstain 0
Full voting results open_in_new
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Status:
Became Law
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Additional Information
Print number: 117_S_583
Sponsor: Sen. Peters, Gary C. [D-MI]
Process start date: 2021-03-03
Voting date: 2022-02-08
Meeting no: 2
Voting no: 34
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

PRICE Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_583.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-03.

What are the main provisions?

Key points include:

  • Supports small businesses: The act encourages federal agencies to use small businesses more often, which can help them grow and create new jobs.
  • Better spending: It promotes innovative purchasing methods, leading to savings and more efficient use of public funds.
  • Increased transparency: Requires reports on innovative procurement projects, increasing public oversight of government spending.
What is the specific legal status?

The current status is Became Law.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Sen. Peters, Gary C. [D-MI].

What is the latest detailed status?

The latest detailed status is: Became Public Law No: 117-88.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Public Investments Economy