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President Joe Biden and Vice President Kamala Harris have announced a set of reforms to the federal procurement process to help meet an ambitious target of increasing the share of federal contracts to small, disadvantaged businesses (SDBs) advance the President's Management Agenda and increase opportunity for all underserved businesses.

The actions announced on Thursday, December 2, include for the first time, asking agencies to increase their goals so that governmentwide spending results in 11 percent of contracting dollars being awarded to small, disadvanaged businesses, up from the curre...