What Is In The $1.7 Trillion Federal Spending Law You Should Know as A Government Supplier

After months of talks and negotiations, the federal spending bill finally passed into law in the last week of December. The spending law, which amounts to $1.7 trillion, will fund government agencies’ projects through September 30, 2023. Unlike last fiscal year, the budget was not signed until May, delaying numerous procurement plans. This fiscal year, the budget may be delayed for 3 months but agencies now have more time to continue with their projects with the new funding.

The $1.7 trillion budget includes the 12 annual appropriation bills and also is split into $858 billion for defense spending and $773 billion for non-defense spending. Whether you are a seasoned federal government supplier or new to government bidding, this funding is great news.

In this article, we will discuss some of the interesting projects or programs funded by this spending law. We will also share how you can take advantage of a bidding platform like Bidnet Direct to efficiently find and get notified with bids for these projects.

Federal Spending Budget By Agency or Program

Non-defense Spending

In FY23, Congress has allotted $773 billion in non-defense discretionary spending to fund various programs including boosting infrastructure projects. According to the summary report by the American Society of Civil Engineers in infrastructure spending, here is some of the funding going towards projects that you will likely be seeing upcoming bid opportunities for:

• $4 billion for rural development programs, including expansion of broadband services and water program loans
• $106.3 billion budget for the Department of Transportation that is split between sub-agencies, including:
• $62.9 billion for the Federal Highway Administration that will help improve the highway systems in the country.
  • $19 billion for the Federal Aviation Administration to support airport improvement grants.
  • $16.9 billion for the Federal Transit Administration to help purchase low-emission buses, improve ferry systems, and other local projects.

Other budget funding includes $39 billion for the Interior and Environment to boost disaster funding, $26.9 million for Infrastructure Security, and $54.65 billion for the Energy and Water division.

Defense Spending

The US Department of Defense is getting $816.7 billion to fund various projects, including modernizing military technology, military base construction, and providing housing for servicemembers. The budget also authorizes DoD $163 billion for procurement and $279 billion for operation and maintenance. These budget allocations could mean more bidding opportunities for military procurement are coming in FY23.

Get Notified with Matching Federal Bid Opportunities

With this massive spending law for FY23 that allocates funds through September 30, there is sure to be a lot of opportunities you won’t want to miss for your business. Bidnet Direct can help you with that. Registered vendors on Bidnet Direct can get notified of federal bids in different states with the Federal plan, which also includes bids and RFPs from local and state government agencies.

Our technology uses the NIGP Codes system that is coordinated with the NAICS Classification system, which the federal government uses to classify solicitations. When new solicitations are published on government agencies’ procurement websites, our team of researchers then captures that information and sends out the bid alert to our registered vendors that have matching classification codes.

This technology from Bidnet Direct can provide vendors like you with time and cost savings, bringing you more bid opportunities for your business growth. Register today to start getting notified or search for available federal (or state and local) bids that might interest you.