Stop Pentagon Price Gouging: Increased Oversight of Defense Contractor Costs.
This Act aims to protect taxpayer money by forcing major defense contractors to disclose detailed cost and margin data. It introduces stricter rules regarding competition and the definition of commercial items to prevent companies from hiding excessive prices. Companies that fail to cooperate will lose privileges related to accelerated payments, increasing transparency in defense spending.
Key points
Requires major defense contractors to disclose detailed costs and gross margins annually, with public reporting and publication of this data.
Tightens the definition of "adequate competition" and "commercial item" to limit exceptions that allow companies to avoid price scrutiny and cost data disclosure.
Establishes a pilot program linking accelerated payments for contractors to their prompt cooperation in providing pricing data, promoting transparency.
Status:
Expired
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