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Jun 11, 2021 · By Frank Konkel. June 11, 2021. Fiscal 2020 is the fifth straight year of increased government contract spending, according to Bloomberg Government. Procurement. Budget. Industry. The...
Jun 10, 2021 · Bloomberg Government's analysis finds that fiscal 2020 marks the fifth straight year of increased government contract spending, with contracting dollars increasing by $83 billion compared...
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- Defense Drives Record Contract Spending
- It Modernization Boosts GWAC Spending
- Small-Business Spending Share Holds Steady
- Ota Spending Growth Supports Research & Development
- Agencies Adopted Simplified Acquisition Purchasing
Federal spending grew at a rate of about 7.6% annually from fiscal 2015 through 2019, when it rose to $594 billionThe previous peak was fiscal 2010, when federal spending reached $563 billion. The majority of the spending increases were at the Defense Department. DOD spending increased by about 43% in the 5-year period,from about $282 billion in fi...
Federal spending on government-wide acquisition contracts, which are contracts designated exclusively for information technology purchases, has continued to accelerate, reaching $17 billion in fiscal 2019. The trend suggests agencies are relying more on GWACs each year to satisfy IT requirements and modernize legacy systems. .
The amount of dollars disbursed to small businesses has risen in lockstep with overall contract spending, while the share of federal dollars won by small-businesses has remained relatively flat. From fiscal 2015 through 2019, the overall share of federal spending disbursed to small businesses has remained about 22% of the market. The SBA exclusion ...
Acquisitions using the federal government’s Other Transaction Authority, which reduces red tape to allow the government to swiftly acquire research and prototyping services, has increased each year. The trend suggests the federal government is using the contracting mechanism to expedite the award of new contracts, expand its pool of nontraditional ...
Spending through simplified acquisition procedures (SAP), a government process for buying commonly acquired goods and services that fall below a certain price threshold, has increased each yearsince 2015. In fiscal 2019, SAP spending reached the highest amount ever reported. The increase is likely attributable to three factors: the overall growth i...
May 16, 2022 · From $36 billion in 2017, it ballooned to a record-high $50.9 billion in 2021—a staggering 41% growth within five years. The main drivers of BIC’s record-breaking federal spending are the ...
Jun 3, 2022 · There is no specific number of how much the budget for federal contract spending could be. The federal funding may differ every fiscal year depending on the need, scenario, or even executive order. For the fiscal year 2022, Mr. President Joseph Biden released his message about this year’s government spending budget.
Feb 17, 2023 · From FY 2021 to FY 2022, government contract spending rose by about $50 billion, with a few key areas of growth driving the increase. FY 2022 surpassed $700 billion, with boosts from the R&D market, IT, federal infrastructure spending, and support for the war in Ukraine.
Jul 29, 2021 · 7/29/2021. By Jon Harper. iStock illustration. Federal contract obligations reached a record high of $682 billion in fiscal year 2020, the fifth straight year of spending growth, according to Bloomberg Government.
