This bill matters because it changes how federal money is spent on construction projects, especially in communities that are struggling economically. If it becomes law, federal contractors won't be encouraged or required to give special consideration to local construction companies in areas with high unemployment. This could mean fewer opportunities for local businesses and workers to get a piece of federal projects in their own communities.

If it doesn't pass, the Small Business Administration would keep its power to promote local hiring for federal construction subcontracts when unemployment is high, potentially helping to boost local economies during difficult times.