U.S. Senators James Lankford, Gary Peters and Rand Paul have introduced the Federal Acquisition Savings Act of 2018. It would loosen up rules on how the federal government gets equipment it needs for mining, agricultural production, construction, highway maintenance and medical research.
Currently, federal agencies are only allowed to buy or lease the heavy equipment needed to perform their duties. Lankford, Peters and Paul want to allow for short term rentals of that same equipment, if it makes better financial sense.
“As our nation’s debt continues to rise, Congress and federal agencies should be looking for practical ways to save taxpayer dollars and achieve operational efficiencies,” said Lankford. “This bill will ensure that equipment acquired by the government is done so by the most advantageous method.”
“Short-term rentals can offer an affordable alternative to purchasing industrial equipment that might only be used a handful of times,” said Peters. “Instead of sinking taxpayer money into buying, maintaining and storing heavy equipment, federal agencies should consider other acquisition methods like renting to cut down on wasteful government spending and save taxpayers’ hard-earned dollars.”
“The federal government owes it to the American people to be responsible stewards of their money. When it must spend their funds, it should seek the most cost-effective option. Our bill better empowers federal agencies to keep this obligation to taxpayers, and it increases agencies’ accountability to the people’s representatives,” said Paul.
The trio introducing the bill sit on the Senate Homeland Security and Governmental Affairs Committee.
A summary of the bill can be found here.
