arrow_back Back to App

Increased Price Transparency in Government Contracts

This act aims to ensure the government pays fair prices for goods and services, potentially leading to better use of taxpayer money. It introduces new rules for companies contracting with the government to disclose cost data, preventing overpricing. This helps ensure citizens' money is spent wisely.
Key points
Companies working with the government will more often need to disclose detailed cost data so the government can verify fair prices.
If a company fails to provide required data, it may become ineligible for government contracts, unless it's in the public interest.
The act introduces regular reviews of prices for products deemed commercial to ensure their pricing remains justified.
The Government Accountability Office (GAO) will investigate if companies use intermediaries to avoid disclosing cost data, aiming to prevent waste and fraud.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_8161
Sponsor: Rep. Maloney, Carolyn B. [D-NY-12]
Process start date: 2022-06-21
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Fair Pricing with Cost Transparency Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8161.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-06-21.

What are the main provisions?

Key points include:

  • Companies working with the government will more often need to disclose detailed cost data so the government can verify fair prices.
  • If a company fails to provide required data, it may become ineligible for government contracts, unless it's in the public interest.
  • The act introduces regular reviews of prices for products deemed commercial to ensure their pricing remains justified.
  • The Government Accountability Office (GAO) will investigate if companies use intermediaries to avoid disclosing cost data, aiming to prevent waste and fraud.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Maloney, Carolyn B. [D-NY-12].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Public Investments