As the new academic year gets underway, lawyers, business leaders, and interested parties working with Federal financial assistance programs might need to hit the books themselves. The Office of Management and Budget (OMB) recently assigned some timely homework in the form of implementing the Buy America, Buy American Act (BABA) mandates.
True to the season of fresh starts, on August 23, 2023, OMB published a Final Rule revising its Guidance for Grants and Agreements to implement the BABA mandates.
This development is particularly pertinent for contractors who wish to remain actively involved in Federal financial assistance programs, particularly those concerning infrastructure. Those failing to familiarize themselves with these changes and implications risk being left behind.
So, as school bells ring far and wide, shaking off the dust from legal tomes and comprehending the BABA mandates’ details and its related Final Rule will undoubtedly become expected reading material for professionals in this arena.
Beyond the classroom, however, the real-world implications of these changes and the new diligence required provide a valuable lesson in adaptability and readiness within the field. And as all legal professionals know, ongoing education is a fundamental component of their role, regardless of the season.