The first weeks of Biden’s presidency have been marked by rapid regulatory changes in many areas of government work. He has signed an executive order for regulating government procurement that declares “The future will be made in America”
Biden’s Recent Government Procurement Executive Order
Buying American-made and American-sourced goods for government use has received a great deal of bipartisan support recently, especially as the COVID-19 pandemic has threatened the financial stability of smaller businesses and the American economy as a whole.
Biden’s “Buy American” procurement changes aim to do several things:
- Tighten definitions of “American-made” products
- Restrict the abilities of businesses to outsource production overseas (including reducing outsourcing waiver approvals and closing loopholes in the system)
- Incentivize the government procurement industry to look within American borders for their products and services
- Shore up and strengthen the industries and economy of the United States
- Grow the number of quality, union-protected jobs for American workers
- Create a new senior leadership position in the Office of Management and Budget to oversee Biden’s changes
- Give small businesses more contracting opportunities
What GMP Partners Should Know
- GMP already has many government contracts, and this order will encourage the government to continue buying through small businesses and the firms GMP represents.
- Cutting down on outsourcing industry work and fabrication will lead to more jobs, though it may also mean that American businesses that wish to pursue government procurement may find it harder to do so if they themselves outsource their work overseas.
- GMP will continue to represent and endorse its partners to the government with excellence and provide advice and counsel on how best to prepare for the market.