Federal Aquisitions Act Signing Ceremony
President Clinton and Vice President Gore spoke about new legislation designed to streamline government buying practices. The president said… read more
President Clinton and Vice President Gore spoke about new legislation designed to streamline government buying practices. The president said the new law cuts red tape for purchases under $100,000 and allows front-line managers to decide on purchases of less than $2,500. He noted that this alone will save an estimated $50 on purchases of items under $2,500. The Federal Acquisition Streamlining Act of 1994 is designed to simplify the government’s purchasing system. The administration estimates that the current process requires 50 dollars in paperwork for ordered goods, and estimates that the law will save about 12 million dollars over the next five years. close
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