Trump Administration to Review Contracts With McKinsey, BCG, EY

The Trump administration is asking consulting firms to justify their federal contracts as part of far-reaching efforts to reduce waste in federal spending, according to a letter obtained by Bloomberg News.

The US General Services Administration said in a letter dated Thursday that it is soliciting information from the firms about their contracts to help “critically evaluate which engagements deliver genuine value and demonstrable returns to the American taxpayer, and therefore merit external support, and which should be internalized to ensure we are responsible stewards of taxpayer dollars and avoid unnecessary spending.”

The agency sent the letters to firms such ...