Equitable Contracting and Small Business Advancement Act This bill requires the Office of the Under Secretary of Defense for Acquisition and Sustainment and the Office of Small Business Programs of the Department of Defense to annually provide a joint briefing to Congress on the implementation of the memorandum titled Achieving Small Business Goals through Category Management Practices (January 27, 2023). Among other elements, the briefing must describe the effects of the memorandum on contracting opportunities for small businesses.