It’s official. The final 2020 government spending status is in, and government funding is going up for nearly every agency. On Tuesday, December 17, the House approved a $1.4 trillion spending deal, finally setting spending levels for fiscal year 2020.
Included in the spending deal is a 3.1% pay raise for civilian federal employees, a $22 billion increase in Pentagon funding, and a $27 billion increase in non-defense agency funding.
What does this mean for federal contractors?
With an increase in government spending comes a likely increase in government spending on federal contractors. According to the Government Accountability Office, more than $550 billion was spent on contracts for goods and services in 2018, an increase of more than $100 billion from 2015. This trend of increased spending on federal contractors is only expected to continue into 2020.
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