Trump ‘Cost Efficiency’ Mandate Hits Millions of Vendor Payments

Agency officials must begin writing justifications for millions of contract and grant payments after President Donald Trump issued an executive order requiring new financial tracking systems and payment approval procedures.

The nearly two dozen Chief Financial Officer Act agencies most affected by the new order reported issuing 2.5 million contract and grant transactions totaling a combined $1.425 trillion last year, according to Bloomberg Government’s analysis of federal contract and grant data.

The White House move could significantly slow contract administration and payments to vendors as government buying kicks into high gear in the second half of the fiscal year.

Approximately ...