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New rules for US government contractors on national security

This act introduces new rules for companies providing services to the US government in national security and foreign policy. It aims to prevent situations where these companies have business ties with countries or entities considered threats to the US. This ensures government contracts are executed without conflicts of interest, enhancing national security for citizens.
Key points
Companies bidding on national security government contracts must disclose their ties to foreign entities, especially those considered threats.
Failure to disclose such ties can lead to contract denial or other penalties for the company.
The goal is to protect US national and economic security by eliminating conflicts of interest in government contracts.
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Additional Information
Print number: 117_S_4516
Sponsor: Sen. Ernst, Joni [R-IA]
Process start date: 2022-07-13