On June 26, 2014, Senator Cardin of Maryland submitted an amendment to the Senate version of the NDAA to increase the Bond Guarantee Program percentage from 70% to 90%. Senator Cardin’s staff reached out to NASBP for feedback and assistance. Last Congress, NASBP worked with Senator Cardin on this and similar matters.
There is precedence for inclusion of these programs in the NDAA. The 2013 NDAA included several small business contracting reforms, which NASBP had advocated for on Capitol Hill that included, first, increasing the contract size of the Small Business Administration’s (SBA) Surety Bond Guarantee Program (BGP) from $2 million to $6.5 million, and up to $10 million if a federal agency’s contracting officer certifies that the guarantee is necessary, and second, providing the SBA Administrator discretion to determine the Program liabilities to attract more surety company participation in the Program.
NASBP continues to identify a senator(s) who will be willing to offer an amendment to the NDAA addressing individual sureties.