Federal Acquisition Security Council Improvement Act of 2026

This bill restructures the Federal Acquisition Security Council (FASC) to operate under the Executive Office of the President and establishes a Federal Acquisition Security Council Program Office within that office. It creates a process for the Council to issue "designated orders" that can exclude foreign entities posing national security risks from government contracts, with mechanisms for agencies to request temporary waivers under certain conditions. The Council must also report annually to Congress on security risks associated with covered sources of concern, directly affecting federal agencies and government contractors involved in procurement.