Expanding the Surety Bond Program Act of 2025
Summary
The "Expanding the Surety Bond Program Act of 2025" aims to enhance the Small Business Administration's (SBA) surety bond program. It increases the guarantee amount for surety bonds, modifies administrative expense allowances, and introduces reporting requirements. The bill also includes provisions for supplemental funding requests and Government Accountability Office (GAO) oversight.
Expected Effects
The Act will likely increase the availability of surety bonds for small businesses. This could lead to more small businesses being able to compete for larger contracts. The reporting requirements aim to improve transparency and accountability within the program.
Potential Benefits
- Increased access to surety bonds for small businesses.
- Potential for small businesses to secure larger contracts.
- Enhanced transparency through reporting requirements.
- Improved program efficiency through GAO review.
- Streamlined administrative processes.
Most Benefited Areas:
Potential Disadvantages
- Potential for increased administrative burden due to new reporting requirements.
- Possible reduction in guarantee amount if Administrator requests supplemental funds.
- Risk of fund mismanagement if oversight is not effective.
- Potential for increased costs to taxpayers if the program is not managed efficiently.
- Possible delays in program implementation due to administrative changes.
Constitutional Alignment
The Act aligns with the Constitution's Article I, Section 8, which grants Congress the power to regulate commerce and provide for the general welfare. The expansion of the surety bond program falls under the umbrella of supporting small businesses, which can be seen as promoting economic activity and stability. The Act does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).