Accelerating Small Business Growth Act

This bill establishes a competitive grant program within the Department of Transportation to help business owners who are socially and economically disadvantaged (as defined by existing law) compete for transportation-related contracts. It provides $5 million annually (2024-2026) to eligible entities like states, local governments, tribes, or port authorities, which can then create programs to train and support these businesses. Grantees must report on program activities and effectiveness annually, with all reports made publicly available online. The program directly affects disadvantaged business owners by creating pathways to secure government transportation contracts, while the funding and reporting requirements ensure accountability.