Author: Naomi Cooper|| Date Published: January 11, 2023
Kevin Plexico, senior vice president of information solutions at Deltek and a three-time Wash100 Award winner, forecasts that inflation and the near-term rollout of fiscal 2023 government funds will drive a favorable contracting landscape in the coming year, FCW reported Monday.
Plexico noted the $1.7 trillion omnibus appropriations package, Infrastructure Investment and Jobs Act and the Inflation Reduction Act offer opportunities for federal contractors to secure work with the government.
He expects that debt challenges will dominate upcoming discussions in the 118th Congress as the national debt is at more than $31 trillion, or 129 percent of the gross domestic product.
Vendors should also expect to see changes in contract agreements, particularly price adjustments, due to the ongoing inflation, according to Plexico.
“So if you’re finding yourself challenged with increasing costs that are putting pressure on your margins, but still a strong need to be competitive in your pricing, you’re certainly not alone. That’s a problem that I think many companies are facing,” he added.
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