The Department of Defense (DoD) is proposing changes to the Defense Federal Acquisition Regulation Supplement (DFARS) to adjust acquisition-related dollar thresholds for inflation, using the Consumer Price Index. This adjustment is set to occur every five years, but excludes certain statutes like the Davis-Bacon Act and trade agreements thresholds. The proposed rule aims to maintain current regulations by reflecting economic changes, ensuring that thresholds keep pace with inflation, and is not expected to significantly affect the public or small businesses. Comments on these proposed changes are invited until March 18, 2025, and further details are available on the regulations.gov portal.
Simple Explanation
The Department of Defense wants to make sure that the rules about how much money can be spent on certain projects stay fair as prices go up over time, just like how your allowance might be adjusted for inflation. They want people to share their thoughts on this change until March 18, 2025.