Federal Acquisition Streamlining Act

The Federal Acquisition Streamlining Act, passed in 1994, aimed to make the process the U.S. government uses to buy goods and services more efficient and flexible. It simplified regulations, encouraged competition, and promoted the use of small and disadvantaged businesses. The law reduced unnecessary paperwork, sped up procurement procedures, and supported innovation, ensuring the government can acquire necessary products and services more effectively while maintaining transparency and fair competition. Overall, it sought to improve the government's purchasing process to better serve the public interest.