The Aerospace Industries Association (AIA) recently submitted feedback to the Office of Management and Budget and Department of Defense regarding the fourth tranche of revisions released under the Revolutionary Federal Acquisition Regulation (FAR) Overhaul effort — FAR Part 29 (Taxes) and FAR Part 31 (Contract Cost Principles & Procedures). The comments underscored the importance of a comprehensive review and modernization of the framework governing allowable and unallowable costs, to better align with modern business practices, advance mission objectives, and streamline federal procurement. AIA and our members support the ongoing effort to modernize and streamline the federal procurement system, and look forward to continued engagement on this initiative.
