House Passes Hagedorn Amendment to Help Small Businesses
WASHINGTON – Last night, the U.S. House of Representatives passed Rep. Jim Hagedorn’s (MN-01) amendment, #178 to H.R. 2500, the National Defense Authorization Act. The amendment helps small businesses by directing federal agencies to pay small contractors faster, easing the financial burden and added costs of unpredictable payments.
The amendment codifies a requirement that agencies pay contractors with a goal of 15 days after receiving a proper invoice. Codifying this payment schedule will prevent tampering by future administrations and give small contractors a level playing field with federal contracts.
“Small business owners tell me the success of their business is dependent on access to a steady and stable cash flow,” said Hagedorn. “Without money in the bank, they cannot pay their employees. Assurance of timely payment ensures the vibrancy of small businesses engaged in federal contracts. This stability also encourages new vendors to join the federal marketplace, thereby increasing competition and reducing the burden on taxpayers.
“I thank my colleagues for passing this amendment as part of the National Defense Authorization Act. Today, Speaker Pelosi will bring a politicized version of this bill to the House for a vote, despite knowing the U.S. Senate and the President will not support it. I am against the current version of the NDAA but will gladly vote for a final, bipartisan compromise bill that protects the United States and her interests.
“I hope my small business payment amendment will be included in the final compromise bill that receives President Trump’s signature and funds the defense of our great nation.”
Jim Hagedorn was elected in 2018 to represent Minnesota’s First District in the U.S. House of Representatives. He grew up on his family’s grain and livestock farm near Truman. Jim’s father, former U.S. Congressman Tom Hagedorn (MN-02), grandfather, and great-grandfather were all southern Minnesota farmers. Jim currently resides in the rural farming community of Blue Earth. Hagedorn brings policy experience to Capitol Hill from time spent as a congressional aide to former U.S. Congressman Arlan Stangeland (MN-07) and a congressional relations officer for two non-partisan U.S. Department of the Treasury agencies. Hagedorn serves on the House Committees on Agriculture and Small Business to promote farming, Main Street enterprises and southern Minnesota’s way of life.