On August 13, 2025, the White House issued Executive Order 14335, “Enabling Competition in the Commercial Space Industry” (“EO 14335” or the “EO”).  Framed as a push to “enhance American greatness by enabling a competitive launch marketplace and substantially increasing commercial space launch cadence and novel space activities by 2030,” EO 14335 directs federal agencies to reform regulatory barriers in four key areas:  (1) commercial launch and reentry, (2) spaceport infrastructure, (3) novel space activity authorization, and (4) leadership and accountability.  Sec. 2.  Each of these initiatives aims to streamline bureaucracy, reduce delays, and accelerate U.S. commercial space growth.  Below, we break down the EO’s provisions in each area and examine their significance for industry stakeholders.

As part of the Trump Administration’s Revolutionary FAR Overhaul (“RFO”), the Federal Acquisition Regulation (“FAR”) Council has been releasing streamlined Parts of the FAR on a rolling basis.  We have been closely monitoring the RFO and its effects on the acquisition landscape, and publishing updates on the progress.  To date, 25 streamlined FAR Parts have been released on the RFO page of acquisition.gov, the most recent of which were released earlier today: Part 9 – Contractor Qualifications; Part 33 – Protests, Disputes, and Appeals; Part 46 – Quality Assurance; and Part 49 – Termination of Contracts.  Along with the streamlined Parts, revised definitions and contract clauses have been added to Parts 2 and 52, respectively.  And, a host of non-regulatory resources and commentary, from Practitioner Albums to Smart Accelerators is growing.

Notably, FAR Part 42 – Contract Administration and Audit Services, which includes Subpart 42.12 – Novation and Change-of-Name Agreements, has yet to be overhauled, and we wanted to take this opportunity to renew our call for reform of the existing novation process.

On August 7, 2025, President Trump issued Executive Order 14332, “Improving Oversight of Federal Grantmaking,” (“EO 14332” or “the EO”) to “strengthen oversight and coordination of, and to streamline, agency grantmaking” and “ensure greater accountability for use of public funds.”  Sec. 1.  Among other things, the EO:  (1) directs agencies to review discretionary funding opportunities for consistency with agency priorities; (2) provides principles for agencies to use in assessing discretionary awards; (3) directs the Office of Management and Budget (“OMB”) to revise the Uniform Guidance applicable to federal financial assistance; and (4) requires agencies to include terms and conditions in their discretionary grant agreements allowing for termination for convenience and preventing recipients from drawing down funds without prior written explanation and approval.  Through these methods, EO 14332 focuses on increased political oversight of discretionary funding, ensuring broad termination for convenience rights, and limiting indirect costs.  The EO arrives at the intersection of recent efforts by the Trump Administration both to cancel, terminate, or otherwise pause federal funding viewed as inconsistent with the Administration’s policy priorities and to streamline federal procurement regulations.

The Office of Management and Budget (OMB) has taken the next major step toward implementing the General Services Administration’s (“GSA”) Revolutionary FAR Overhaul (RFO), submitting to Congress 16 legislative proposals aimed at modernizing federal acquisition law and easing statutory burdens on both agencies and contractors on July 16, 2025. The proposals, published here, underscore GSA’s commitment to aligning statutory authorities with the RFO’s ambitious deregulatory vision.

As detailed in our prior blog posts, the FAR modernization process is already well underway, with class deviations issued by FAR part and proposed rules expected in the fall. GSA has emphasized that the RFO is not limited to rewriting the FAR, however — GSA will also actively engage with Congress and the White House to remove unnecessary burdens imposed by statute or Executive Order. This legislative package shows that that effort has begun in earnest.

Below are a few highlights from the proposals.