Prospectus Modernization Act of 2026

This bill raises spending thresholds for federal agency procurements under the General Services Administration (GSA) for fiscal years 2026-2028. It increases the current $1.5 million threshold for certain procurement actions to $10 million and the $750,000 threshold to $5 million, meaning fewer purchases will require a formal "prospectus" process. These changes directly affect federal agencies that use GSA's procurement system for major purchases. The bill ensures these higher thresholds remain fixed without inflation adjustments during the 2026-2028 period.