"Authorization for the revolving fund set up to financially back government technology projects will expire in just over a week without congressional action. The General Services Administration, which houses the Technology Modernization Fund, has been quiet about the fund since the second Trump administration started in January, opting not to publicly announce either of the two new projects the fund financed this year."
"If the TMF isn't reauthorized, GSA will be able to continue to oversee existing investments, but not make any new ones, the latter said - meaning that nearly $160 million in funding would effectively be frozen."
""Reauthorizing the TMF is essential to ensuring stable, flexible funding that helps agencies deliver secure, modern services for the American people. We look forward to working with Congress on the reauthorization effort," a GSA spokesperson said in a statement, calling the fund "one of the federal government's most effective tools for rapidly strengthening cybersecurity and improving high-impact systems.""
Authorization for the Technology Modernization Fund will expire on Dec. 12 unless Congress reauthorizes it. The General Services Administration has not publicly announced the two projects funded this year. Office of Management and Budget and GSA political leadership are signaling support to Congress for reauthorization. Without reauthorization, GSA can oversee existing investments but cannot award new ones, effectively freezing nearly $160 million in available funding. The fund was created in 2017 to provide flexible, multi-year financing for government IT modernization and to address annual appropriations that leave agencies reliant on decades-old, insecure technology. Bipartisan lawmakers back the fund, but reauthorization remains uncertain.
Read at Nextgov.com
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