The executive order from President Trump seeks to reform the Federal Acquisition Regulation (FAR), which governs procurement and acquisition activities in the federal government. The FAR is a complex set of regulations that has grown over time, making it difficult for agencies to navigate and often leading to delays in contract awarding processes. President Trump’s order seeks to simplify the FAR by removing unnecessary provisions and focusing on those that are essential to sound procurement practices.
The summary highlights several key points of the executive order, including its policy objective to create an agile, efficient, and effective procurement system and the intent to align agency supplemental regulations with the FAR. The memorandum issued by the Office of Management and Budget is expected to provide guidance on implementing the reforms proposed in the order.
Overall, this executive order represents a significant step towards reforming federal procurement practices and ensuring that taxpayer dollars are spent effectively and efficiently.
Read the full text of the order at the whitehouse.gov website.