Safe and Smart Federal Purchasing Act

This bill requires the Director of the Office of Management and Budget (OMB) to review how federal agencies (including Defense and Civilian agencies like the Pentagon or Social Security Administration) select contractors using the "lowest price technically acceptable" method for purchases. The review specifically examines whether this common procurement practice creates national security risks. The OMB Director must complete the review and submit a report to Congress (specifically the House Oversight Committee and Senate Homeland Security Committee) within 180 days of the bill becoming law. The bill does not change current procurement rules but mandates this review to assess potential security impacts.