More good news for government contractors was released this past week when the House of Representatives decided in a landslide victory (340 to 73 to be exact) that the Department of Defense’s contract spending would be increased by $4.1 billion in 2015. The Department of Defense’s 2014 contracting budget was originally set at $487 billion and will now increase to $491 billion for the new 2015 fiscal year.
House of Appropriations Committee Chairman Hal Rogers stated in response to the the DoD receiving $200 million more than the original quote, “the bill helps to meet the most pressing needs to address current and arising threats to the safety of our nation, while finding ways to trim excess and reduce lower-priority programs without negatively affecting our troops or the success of our military missions.”
This is an excellent time to become involved in government contracting as the Federal Government comes closer to the last quarter of the 2014 year when spending is at its highest. The 2014 4th Quarter Fiscal Year starts July 1st and ends September 31st. During this time procurement officers must spend their entire budget and meet their 23% small business contract spending goals. If they do not spend their entire budget then they will have a smaller budget for spending in the upcoming year. Most procurement officers have a lot more contract spending to do in the last quarter and that is why you will see a spike in spending on USASpending.gov between the months of July and September.
If interested in learning more about becoming a government contract click here