- within Wealth Management topic(s)
Establishes a policy shift in federal procurement to prioritize fixed-price, performance-based contracts over cost-reimbursement models, aiming to improve cost predictability, strengthen contractor accountability, and reduce government overspending. Requires justification and senior-level approval for non-fixed-price contracts above certain thresholds and directs agencies to review and potentially renegotiate existing high-value contracts to incorporate performance-based pricing.
Within 45 days, the Office of Management and Budget must issue implementation guidance. Within 90 days, agencies must review and begin modifying their largest contracts and submit initial reports. Within 120 days, proposed updates to the Federal Acquisition Regulation and training programs must be developed.
Additional Documentation
- Trump Executive Order - Promoting Efficiency, Accountability, and Performance in Federal Contracting
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