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A New and Improved FAR coming your way

GSA Hosts Webinar on Transformative Federal Procurement Changes

The General Services Administration (GSA) hosted a live webinar last week to discuss major reforms reshaping the future of federal acquisition. The session focused on two recent Executive Orders EO 14240, which consolidates federal procurement under GSA, and EO 14275, which launches a sweeping overhaul of the Federal Acquisition Regulation (FAR). Together, these changes aim to streamline buying, cut waste, and open government contracting to more innovation and efficiency. (GSA webinar to discuss executive orders) May 28, 2025)

Consolidating Federal Procurement: EO 14240

Jeff Koses, GSA’s Senior Procurement Executive, explained how EO 14240 shifts common goods and services procurement under GSA’s leadership. This move will eliminate redundancy, reduce cost, and enable agencies to concentrate on mission delivery. GSA will now act as the Executive Agent for all Governmentwide Acquisition Contracts (GWACs), aligning those currently managed by NASA and NIH into GSA’s centralized procurement strategy. (ibid)

GSA will collaborate with OMB, NASA, and NIH to assess current GWACs, resources, and commitments, building a cohesive transition plan. The 10 key spending categories, Information Technology, Professional Services, Security & Protection, Facilities & Construction, Industrial Products & Services, Office Management, Transportation & Logistics, Travel, Medical, and
Human Capital will fall under GSA’s streamlined acquisition umbrella. (ibid)

FAR Overhaul: EO 14275

The second half of the webinar focused on EO 14275, which calls for a modernized, intuitive, and mission-focused FAR. Koses highlighted that the current FAR is too complex and deters many businesses, especially small and innovative firms, from entering the federal marketplace. (ibid)

The FAR rewrite dubbed the Revolutionary FAR Overhaul (RFO), is being implemented through a series of deviations and will remove low-value administrative burdens while maintaining key protections against waste and fraud. New resources, including a FAR Companion Guide, Practitioner Albums, and Buying Guides, will support acquisition professionals and contractors as the rewrite rolls out. (ibid)

Parts of the revised FAR are already available on Acquisition.gov, and the public can comment directly on proposed changes. GSA also announced new training efforts in partnership with FAI and DAU to support the acquisition workforce in adopting the changes. (ibid)

What This Means for Industry

These changes signal a major shift for contractors:

  • Greater opportunity for innovative and small businesses to compete.
  • Streamlined acquisition timelines and reduced barriers to entry.
  • Increased emphasis on commercial buying and mission-first contracting. (ibid)

What’s Next

GSA will continue collecting agency implementation plans and begin analyzing them with OMB. The agency stressed the importance of collaboration with stakeholders and the acquisition workforce during this transitional period. (ibid)

To stay informed, stakeholders can sign up for RFO updates, download new FAR parts and guides, and share feedback directly on Acquisition.gov. (ibid)

This marks a new chapter in federal acquisition—one aimed at making government buying faster, smarter, and more accessible.

Questions concerning the FAR and the overhaul? Give us a call.