The Executive Order titled "Restoring Common Sense to Federal Procurement" aims to simplify and streamline the Federal Acquisition Regulation (FAR), the set of rules governing how the Federal Government buys goods and services. The President has directed that within 180 days, agencies should revise the FAR to remove unnecessary rules, making it more effective and efficient. The goal is to create a procurement system that is less bureaucratic and more aligned with the national interest. Any provisions in the FAR that are not required by law and do not enhance the system's functioning may be eliminated or set to expire within four years unless reviewed and renewed.
Simple Explanation
The President has made a new rule that aims to make it easier for the government to buy things it needs, like toys and tools, by removing old and unnecessary rules and making it simpler and quicker. This means they are cleaning up the rulebook to ensure buying things is fair and smart for everyone and double-checking every few years to keep things in good shape.