Establishes a policy shift in federal procurement to prioritize fixed-price, performance-based contracts over cost-reimbursement models, aiming to improve cost predictability, strengthen contractor accountability, and reduce government overspending. Requires justification and senior-level approval for non-fixed-price contracts above certain thresholds and directs agencies to review and potentially renegotiate existing high-value contracts to incorporate performance-based pricing. Within 45 days,...
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