The Office of Management and Budget (OMB) has proposed wide-ranging changes to the regulatory requirements (currently known as the “Guidance for Federal Financial Assistance”) underlying billions of dollars in grant awards annually. The proposed revisions make (and rebrand) the guidance as binding, contain new anti-diversity, equity, and inclusion (“DEI”) mandates, give the federal government broader powers to terminate grant awards, and prohibit fixed-price awards, among other things.
On April 15, 2025, President Trump issued an executive order, Restoring Common Sense to Federal Procurement, aimed at streamlining federal procurement. The Executive Order called for reforming the Federal Acquisition Regulation (“FAR”), the regulations that form the structure of most of the $1.5 trillion the federal government spends on contracts annually.
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