DoD, GSA, and NASA have issued a final rule to amend the Federal Acquisition Regulation (FAR) in order to implement an Executive Order that promotes the use of American-made goods in government procurement. This rule increases domestic content requirements for products, especially focusing on iron and steel, and raises the price preference for domestic goods from 6% to 20% for large businesses and from 12% to 30% for small businesses. Additionally, certain aspects of the Buy American statute are retained, such as waivers for Commercially Available Off-The-Shelf (COTS) items, although exceptions apply for products predominantly made of iron or steel. The rule is intended to boost economic growth, job creation, and national security by encouraging the use of U.S.-manufactured products.
Simple Explanation
The government wants to buy more things made in the USA, so they made a new rule to give a bigger discount when buying American stuff, especially things made with a lot of iron and steel. This is like giving a high-five to American workers and businesses to help them grow and keep the country safe.