Federal Acquisition Savings Act of 2017

Bill 115 hr 3071, also known as the Federal Acquisition Savings Act of 2017, aims to reduce costs and increase efficiency in federal government procurement processes. The bill focuses on streamlining the acquisition process by promoting competition among suppliers, improving transparency, and enhancing oversight.

One key provision of the bill is the establishment of a centralized database for federal agencies to track and monitor their procurement activities. This database will help identify opportunities for cost savings and ensure that contracts are awarded to the most qualified and cost-effective suppliers.

Additionally, the bill includes measures to increase the use of strategic sourcing, which involves leveraging the purchasing power of the federal government to negotiate better prices and terms with suppliers. By consolidating purchases and standardizing requirements, the government can achieve significant cost savings and improve overall efficiency. The Federal Acquisition Savings Act of 2017 also emphasizes the importance of small business participation in federal contracting. The bill includes provisions to simplify the procurement process for small businesses, increase their access to federal contracts, and promote their growth and success. Overall, the goal of Bill 115 hr 3071 is to promote responsible and efficient spending of taxpayer dollars by improving the federal government's procurement practices. By increasing competition, enhancing transparency, and supporting small businesses, the bill aims to achieve cost savings and improve the overall effectiveness of federal acquisitions.