The Federal Acquisition Regulatory Council, or FAR Council, consisting of the Office of Federal Procurement Policy (OFPP), Office of Management and Budget (OMB), Department of Defense (DoD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA), is issuing a final rule amending the Federal Acquisition Regulation (FAR). The rule further implements a statute that requires an adjustment every five years of statutory acquisition-related thresholds for inflation.
The adjustment uses the Consumer Price Index for all urban consumers and does not apply to the Construction Wage Rate Requirements statute, Service Contract Labor Standards statute, performance and payment bonds, and trade agreements thresholds. OFPP, DoD, GSA, and NASA are also using the same methodology to adjust nonstatutory FAR acquisition-related thresholds in 2025.
The original announcement can be found here.
