The Office of Federal Procurement Policy Launches Landmark Update to FAR, Ushering in a New Era for Commercial Buying

Washington, D.C. – The White House Office of Management and Budget’s Office of Federal Procurement Policy announced the launch of a historic update to the Federal Acquisition Regulation (FAR), marking the most significant reform to federal commercial buying procedures in over four decades. This action is part of the Revolutionary FAR Overhaul (RFO), which is returning the FAR to its statutory roots, rewritten in plain language, while removing non-statutory rules when they are not essential to sound procurement.

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TALLAHASSEE, Fla.— Today, two teams from the Florida Department of Government Efficiency arrived in to Broward County and the City of Gainesville to make good on Governor Ron DeSantis’ promise to ensure transparency and accountability in government. These teams will closely analyze local government spending, with team members from the Department of Financial Services, Department of Revenue, Department of Transportation, Department of Commerce, and Department of Education.

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The North Dakota Department of Commerce announced today that six companies were approved for a total of $2.16 million in loan funds through the North Dakota Development Fund, Inc. (NDDF) during the second quarter of 2025.

"These investments reflect our commitment to economic growth and meeting community needs across North Dakota," said Commerce Economic Development & Finance Deputy Director and Head of Investments and Innovation Shayden Akason. "We’re proud to support businesses that are expanding access to child care – an essential service that enables parents to remain in the workforce and strengthens the state’s economic resilience."

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WASHINGTON -- The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the July – September 2025 and October – December 2025 quarters.

During the July – September 2025 quarter, Treasury expects to borrow $1.007 trillion in privately-held net marketable debt, assuming an end-of-September cash balance of $850 billion.[2] The borrowing estimate is $453 billion higher than announced in April 2025, primarily due to the lower beginning-of-quarter cash balance and projected lower net cash flows. Excluding the lower than assumed beginning-of-quarter cash balance, the current quarter borrowing estimate is $60 billion higher than announced in April.

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CHEYENNE, Wyo.– The Bureau of Land Management Wyoming State Office leased 29 parcels totaling 22,964.88 acres for $7,741,266 in total receipts for its quarterly oil and gas lease sale. The combined bonus bids and rentals from the leases will be distributed between the federal government and the State of Wyoming.

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SALEM, Ore. – The Bureau of Land Management sold 12.9 million board feet of timber across 324 public acres to Freres Engineered Wood of Lyons during the May 21 Green Stone timber sale. The sale generated $5,851,592 in revenue. This project will produce enough timber to build roughly 800 homes, feed local mills, and support jobs in western Oregon communities.

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