Source: EXECGOV The Department of Government Efficiency announced that federal agencies terminated 43 excessive contracts with a total ceiling value of $3.5 billion over the past five days, resulting in approximately $222 million in savings. DOGE said the canceled contracts include a $29 million Department of Commerce consulting contract to provide staff to conduct program management as well as planning, analysis and project management support and a $4.3 million IT contract o

Source: FDN The Trump administration’s plans to shutter four small agencies are indefinitely on hold, following a court’s recent ruling. A federal judge in Rhode Island issued a permanent injunction on Nov. 21, blocking the administration from taking any further action to eliminate the Institute of Museum and Library Services, the Minority Business and Development Agency, the Federal Mediation and Conciliation Service, and the Interagency Council on Homelessness. President D

Source: BDO Key Takeaways: There are three common U.S. government contract types: Firm Fixed-Price, Cost-Plus, and Time and Materials contracts. From a contractor’s perspective: Firm Fixed-Price contracts are high financial risk, low compliance risk, and have a low administrative burden. Cost-Plus contracts are low financial risk, high compliance risk, and have a high administrative burden. Time and Materials contracts are moderate financial risk, moderate compliance risk,