Biden administration, DOT propose improvements to DBE regulations
The Biden administration and the U.S. Department of Transportation (DOT) have proposed changes designed to improve the regulations of the Disadvantaged Business Enterprise (DBE) program and the Airport Concession Disadvantaged Business Enterprise (ACDBE) program. Their plan would help modernize the programs, which are intended to prevent discrimination and remedy the continuing effects of past discrimination against small businesses owned and controlled by disadvantaged individuals.
The proposed updates would increase the personal net worth (PNW) limit from $1.32 million to $1.6 million and exclude retirement assets from PNW calculations; simplify the interstate certification process; empower certified firms to better market themselves to prime contractors; and strengthen prompt payment monitoring and oversight requirements.
“For far too long, small and disadvantaged businesses have faced discrimination that costs them economic opportunities,” said U.S. Transportation Secretary Pete Buttigieg. “These critical updates would help ensure that small and disadvantaged businesses continue to have a fair chance to compete for federally assisted contracts.”
Click here to learn more about these proposed improvements.