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Lower Cost Data Threshold for Government Contracts

New rules reduce the amount at which companies must provide detailed cost and pricing data when contracting with the government. This aims to increase transparency in public spending and improve oversight of how taxpayer money is spent, potentially leading to more efficient use of public funds.
Key points
Companies with government contracts exceeding $750,000 (previously $2,000,000) will now need to provide detailed cost and pricing data.
Some existing contracts will also be modified to reflect these new requirements without additional cost.
The goal is to enhance oversight of government spending and ensure taxpayer money is spent fairly and efficiently.
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Expired
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Additional Information
Print number: 118_HR_5271
Sponsor: Rep. Deluzio, Christopher R. [D-PA-17]
Process start date: 2023-08-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend section 3702 of title 10, United States Code, to reduce the dollar threshold for requiring certified cost and pricing data, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5271.

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 2023-08-25.

What are the main provisions?

Key points include:

  • Companies with government contracts exceeding $750,000 (previously $2,000,000) will now need to provide detailed cost and pricing data.
  • Some existing contracts will also be modified to reflect these new requirements without additional cost.
  • The goal is to enhance oversight of government spending and ensure taxpayer money is spent fairly and efficiently.
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. Deluzio, Christopher R. [D-PA-17].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Armed Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Public Investments Economy