H.R. 4250 · 115th Congress
Buy Smarter and Save Act of 2017
- Stage
- In committee
- Sponsor
- Tom Reed
- Introduced
- 2017-11-03
- Latest action
- 2017-11-03 · Introduced in House
Summary
Buy Smarter and Save Act of 2017
This bill requires the President to establish, and federal agencies to implement, annual government-wide goals for agencies to reduce the number of contracts for the procurement of common goods and services, increase spend under management, and use category management to produce savings.
"Category Management" is a business practice for reducing duplication in contracting, more effectively leveraging the buying power of the federal government, and promoting the use of best-in-class solutions and practices throughout the government.
"Spend under management" is the number equal to the quotient obtained by dividing (1) the total spending on preferred government-wide contract vehicles by (2) the total spending on all government-wide contract vehicles.