Give examples of acquisition policy promulgated by the legislative and executive branches.
Federal Acquisition Streamlining Act (FASA) of 1994. Changed the small purchase threshold of $25K with a simplified threshold of $100K and created a micropurchase category for purchases below $2500. Federal Acquisition Reform Act (FARA) of 1996. Intended to enable the federal acq. system to emulate the commercial marketplace by reforming larger cost and IT acquisitions.