This bill seeks to fundamentally alter federal procurement policies by eliminating all government contracting preferences and goals based on race, ethnicity, and sex . Its core purpose is to remove statutory provisions that provide advantages to businesses owned by socially and economically disadvantaged individuals and women-owned businesses in federal contracts and awards. The legislation extensively amends the Small Business Act , systematically repealing or modifying numerous sections that establish or support programs for these groups. For instance, it strikes definitions and references to "socially and economically disadvantaged individuals" and "small business concerns owned and controlled by women" from various loan, assistance, and contracting provisions. While removing these specific preferences, the bill generally retains contracting preferences for qualified HUBZone small business concerns and small business concerns owned and controlled by service-disabled veterans . Beyond the Small Business Act, the bill also targets similar preferences in other federal statutes. It repeals the Minority Business Development Act of 2021 and amends acts like the American Rescue Plan Act of 2021 and the Federal Acquisition Streamlining Act of 1994 to remove race, ethnicity, and gender-based considerations. Furthermore, it reduces participation goals in Department of Transportation financial assistance programs, such as Airport Improvement Project Grants, and eliminates reporting requirements related to women-owned and socially and economically disadvantaged businesses. Crucially, the bill introduces new prohibitions in both civilian and defense contracting. It explicitly states that executive agencies may not consider the race, ethnicity, or sex of individuals owning or managing businesses when granting contracts or awards. Agencies are also forbidden from imposing requirements on contractors or grantees that encourage such considerations. To ensure compliance, the bill mandates that executive agencies submit proposed rulemakings and new guidance within 60 days, completing the removal of all racial, ethnic, and sex-based references in their contracting policies within 180 days.